Financial education in schools has become an increasingly important topic in recent years, reflecting the growing complexity of personal finance and the need for early financial literacy. This subject has appeared in various forms in IELTS Writing Task 2 questions, with a frequency that suggests it may continue to be a relevant theme in future exams. Based on past exam trends and current educational priorities, here are two actual IELTS questions that have been asked:
Some people say that schools should teach children how to manage money. Others believe that this is not the role of schools. Discuss both views and give your own opinion.
Many young people get into debt by taking out loans or using credit cards. Why do you think this is happening? What can be done to encourage young people to stay out of debt?
For this article, we will focus on the first question, as it directly addresses the role of financial education in schools.
Some people say that schools should teach children how to manage money. Others believe that this is not the role of schools. Discuss both views and give your own opinion.
Analysis of the Question
This question requires a balanced discussion of two opposing views on financial education in schools, followed by your personal opinion. The key aspects to address are:
- Arguments for teaching financial management in schools
- Arguments against teaching financial management in schools
- Your own perspective on the issue
It’s important to provide a well-structured response that covers both viewpoints equally before presenting your own opinion with supporting reasons.
Sample Essay 1 (Band 8-9)
In today’s complex financial landscape, the debate over whether schools should include money management in their curriculum has gained significant traction. While some argue that financial education is crucial for students’ future success, others contend that it falls outside the purview of traditional schooling. This essay will examine both perspectives before offering my own viewpoint on this contentious issue.
Those in favor of teaching financial management in schools argue that it equips students with essential life skills. In an era where personal debt and financial instability are rampant, early education on budgeting, saving, and investing could potentially safeguard future generations from financial pitfalls. Moreover, understanding financial concepts from a young age can foster responsible consumer behavior and promote importance of financial planning for millennials. This knowledge becomes increasingly vital as students transition into adulthood, facing decisions about student loans, credit cards, and long-term financial planning.
On the other hand, opponents of this view assert that schools should focus on core academic subjects rather than life skills that traditionally fall under parental responsibility. They contend that the already crowded curriculum leaves little room for additional subjects, and that financial education might detract from more fundamental areas of study such as mathematics, sciences, and languages. Furthermore, they argue that financial landscapes vary significantly across regions and socioeconomic backgrounds, making it challenging to design a universally relevant financial curriculum.
In my opinion, while both arguments have merit, the benefits of incorporating financial education into school curricula outweigh the potential drawbacks. The rapidly evolving financial world demands a populace equipped with the knowledge to make informed decisions, and schools are uniquely positioned to provide this foundation uniformly. However, I believe that financial education should be integrated into existing subjects rather than introduced as a standalone course. For instance, practical applications of mathematics could include budgeting exercises, while economics classes could incorporate personal finance components.
Financial education integration in school curriculum
In conclusion, while concerns about curriculum overload are valid, the long-term benefits of financial literacy for individuals and society at large make a compelling case for its inclusion in school education. By adopting an integrated approach, schools can equip students with crucial financial skills without compromising on core academic subjects, thereby preparing them more comprehensively for the challenges of adult life.
(Word count: 420)
Sample Essay 2 (Band 6-7)
The question of whether schools should teach children about money management is a topic of much debate. Some people think it’s important for schools to do this, while others believe it’s not the school’s job. This essay will look at both sides and give my opinion.
Those who support teaching money management in schools say it’s a very important life skill. They argue that many young people struggle with debt and financial problems because they never learned how to handle money properly. By teaching these skills in school, we can help students make better financial decisions in the future. Also, learning about money can help students understand more about the world around them and how the economy works.
On the other hand, people who are against this idea say that schools already have too much to teach. They think that schools should focus on traditional subjects like math, science, and languages. These people believe that it’s the parents’ job to teach their children about money, not the school’s. They also say that financial education might not be relevant to all students, especially those from different economic backgrounds.
In my opinion, I think schools should teach children how to manage money, but in a balanced way. While it’s true that schools have a lot to cover, I believe financial education is too important to ignore. However, it doesn’t need to be a separate subject. Instead, schools could include money management lessons in other subjects. For example, math classes could use real-life money problems, and social studies could talk about how personal finance affects society.
Students learning about financial literacy in a classroom
To conclude, while both sides have good points, I think the benefits of teaching financial skills in school are greater than the drawbacks. By giving students this knowledge, we can help them be more prepared for their future financial lives. This could lead to a society with fewer money problems and more financial stability.
(Word count: 345)
Explanation of Band Scores
Band 8-9 Essay:
This essay demonstrates the characteristics of a high-scoring response:
- Task Achievement: The essay fully addresses all parts of the task, presenting a well-developed response with relevant, extended, and supported ideas.
- Coherence and Cohesion: Ideas are logically organized with clear progression throughout. Paragraphs are well-linked, and cohesive devices are used effectively.
- Lexical Resource: A wide range of vocabulary is used with very natural and sophisticated control of lexical features. Rare minor errors occur only as ‘slips’.
- Grammatical Range and Accuracy: A wide range of structures is used with full flexibility and accuracy. The majority of sentences are error-free with only very occasional minor ‘slips’.
Band 6-7 Essay:
This essay shows the features of a mid-range response:
- Task Achievement: The essay addresses all parts of the task, though some parts may be more fully covered than others. The format is appropriate, and the conclusion reflects the position.
- Coherence and Cohesion: Information and ideas are arranged coherently, and there is a clear overall progression. Cohesive devices are used effectively, though there may be some under/over-use.
- Lexical Resource: An adequate range of vocabulary is used for the task. There may be some errors in word choice, but these do not impede communication.
- Grammatical Range and Accuracy: A mix of simple and complex sentence forms is used. There are some errors, but these do not impede communication.
The main differences between the two essays lie in the depth of analysis, sophistication of language use, and overall coherence of arguments presented.
Key Vocabulary to Remember
Financial literacy (noun) /faɪˈnænʃəl ˈlɪtərəsi/: The ability to understand and effectively use various financial skills.
Curriculum (noun) /kəˈrɪkjələm/: The subjects comprising a course of study in a school or college.
Budgeting (noun) /ˈbʌdʒɪtɪŋ/: The process of creating a plan to spend your money.
Socioeconomic (adjective) /ˌsoʊsioʊˌekəˈnɑːmɪk/: Relating to or concerned with the interaction of social and economic factors.
Pitfall (noun) /ˈpɪtfɔːl/: A hidden or unsuspected danger or difficulty.
Integration (noun) /ˌɪntɪˈɡreɪʃn/: The action or process of combining one thing with another.
Rampant (adjective) /ˈræmpənt/: (of something bad) Flourishing or spreading unchecked.
Contentious (adjective) /kənˈtenʃəs/: Causing or likely to cause an argument; controversial.
Overload (noun) /ˈoʊvərloʊd/: An excessive amount of something.
Drawback (noun) /ˈdrɔːbæk/: A feature that renders something less acceptable; a disadvantage or problem.
In conclusion, the topic of financial education in schools is likely to remain relevant in IELTS Writing Task 2. Future questions might explore aspects such as the age at which financial education should begin, the role of technology in financial literacy, or the impact of financial education on national economic stability. To prepare effectively, practice writing essays on various angles of this topic, considering both personal and societal impacts of financial education.
We encourage readers to practice writing their own essays on this topic and share them in the comments section below. This active engagement can significantly improve your writing skills and prepare you better for the IELTS exam. Remember to analyze the question carefully, plan your response, and use a range of vocabulary and grammatical structures in your essay.