Financial education in schools has become an increasingly common topic in IELTS Writing Task 2, appearing in various forms across test centers worldwide. Based on recent examination trends, questions about integrating financial management into school curricula have appeared approximately 3-4 times annually since 2019, suggesting its continued relevance for future tests.
Why financial education should be mandatory in schools has become a crucial discussion point in educational reform, making it essential for IELTS candidates to be well-prepared for this topic.
Analysis of Recent IELTS Question
Some people believe that schools should teach students about money management as a required subject. To what extent do you agree or disagree with this opinion?
Question Analysis
- Topic: Financial education in schools
- Task: Agree/Disagree
- Key points to consider:
- Current financial literacy levels
- Benefits and drawbacks
- Implementation challenges
- Long-term impact
Students learning financial management concepts in modern classroom setting
Sample Essay 1 (Band 8)
In today’s complex financial world, I strongly believe that financial management should be a mandatory subject in schools. This approach would equip students with essential life skills and promote better economic decisions in their future.
Firstly, teaching financial literacy in schools would help create a more financially responsible generation. When students learn about budgeting, saving, and investing early, they develop crucial money management habits that will benefit them throughout their lives. For instance, understanding importance of building credit score early can significantly impact their future financial opportunities.
Moreover, financial education can help reduce economic inequality. Many students, especially those from disadvantaged backgrounds, may not receive financial guidance at home. By incorporating financial management into the curriculum, schools can ensure that all students have equal access to this vital knowledge, regardless of their socioeconomic status.
However, implementing such programs requires careful consideration. Schools would need properly trained teachers and updated curricula that reflect current financial trends and technologies. Additionally, the importance of personal financial discipline should be emphasized alongside technical knowledge.
In conclusion, integrating financial management into school curricula is crucial for preparing students for their future financial responsibilities. While implementation may present challenges, the long-term benefits for individuals and society far outweigh these initial obstacles.
High school students working on practical budgeting exercises
Sample Essay 2 (Band 6.5)
I agree that schools should teach money management to students because it is important for their future life.
These days, many young people don’t know how to manage their money well. When they start working, they often spend too much and save too little. If schools teach them about money management, they can learn how to make better choices with their money.
Also, learning about money in school can help students understand important things like bank accounts, loans, and credit cards. This knowledge will help them avoid financial problems in the future. When students learn about importance of dividend stocks for retirement funds, they can plan better for their future.
However, some people think schools already have too many subjects to teach. But I think financial education is very important and should be included in the school program.
In conclusion, I strongly support teaching financial management in schools because it helps students prepare for their adult life. Schools should make this subject compulsory for all students.
Scoring Analysis
Band 8 Essay Analysis
- Task Response: Clear position with fully developed arguments
- Coherence and Cohesion: Logical organization with clear progression
- Lexical Resource: Sophisticated vocabulary with natural usage
- Grammatical Range: Complex structures used accurately
Band 6.5 Essay Analysis
- Task Response: Clear position but less developed ideas
- Coherence and Cohesion: Basic organization with some progression
- Lexical Resource: Adequate vocabulary with some repetition
- Grammatical Range: Mix of simple and complex structures
Key Vocabulary
- Financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – ability to understand and manage financial matters
- Curriculum (n) /kəˈrɪkjʊləm/ – subjects included in a course of study
- Socioeconomic (adj) /ˌsoʊsioʊˌekəˈnɒmɪk/ – relating to social and economic factors
- Implementation (n) /ˌɪmpləmenˈteɪʃən/ – the process of putting a plan into action
- Budgeting (n) /ˈbʌdʒətɪŋ/ – planning how to spend money
For further practice, try writing your own essay about how to promote financial literacy in schools. Share your essays in the comments for feedback and discussion.
