The topic of financial education in schools has become increasingly prevalent in IELTS Writing Task 2 exams. Based on recent trends and the growing importance of financial literacy, it’s highly likely that questions related to teaching financial management as a core subject will continue to appear in future tests. Let’s examine a relevant question that has appeared in past IELTS exams:
Some people think that schools should teach children how to manage money. Others believe that this is not the role of schools. Discuss both these views and give your own opinion.
This question aligns closely with our main keyword “should schools teach financial management as a core subject” and provides an excellent opportunity to explore different perspectives on financial education in schools.
Analyzing the Question
The question presents two contrasting views:
- Schools should teach children how to manage money
- Financial education is not the responsibility of schools
To effectively answer this question, we need to:
- Discuss arguments for and against teaching financial management in schools
- Provide our own opinion on the matter
- Support our points with relevant examples and explanations
Now, let’s examine sample essays for different band scores, starting with a Band 8 essay.
Band 8 Essay Sample
Financial literacy is increasingly recognized as a crucial life skill, leading to debates about whether schools should incorporate money management into their curriculum. While some argue that this responsibility lies outside the educational system, I believe that schools play a vital role in equipping students with essential financial knowledge.
Proponents of financial education in schools argue that it prepares students for real-world challenges. By learning budgeting, saving, and investing principles early on, young people can make informed decisions about their finances in adulthood. For example, understanding compound interest could motivate students to start saving earlier, potentially reducing personal debt and fostering long-term financial stability. Moreover, financial education can contribute significantly to reducing inequality by providing all students, regardless of their background, with the tools to manage their finances effectively.
On the other hand, opponents contend that financial education should be the responsibility of parents or specialized institutions. They argue that school curricula are already overburdened, and adding financial management would detract from core academic subjects. Additionally, some believe that financial practices evolve rapidly, making it challenging for schools to provide up-to-date, relevant information.
In my opinion, while parents and other institutions can contribute to financial education, schools are uniquely positioned to provide comprehensive and equitable financial literacy training. By integrating financial management into existing subjects like mathematics or economics, schools can teach these skills without significantly altering the curriculum. Furthermore, schools can collaborate with financial experts to ensure that the content remains current and practical.
The importance of financial literacy in reducing personal debt cannot be overstated. By empowering students with financial knowledge, schools can help prevent future economic hardships and contribute to a more financially stable society. Therefore, I strongly believe that financial management should be incorporated as a core subject in schools, equipping the next generation with the skills necessary to navigate an increasingly complex financial landscape.
(Word count: 309)
Students learning financial management in school
Explanation of Band 8 Score
This essay demonstrates the characteristics of a Band 8 response:
Task Achievement: The essay fully addresses all parts of the task, discussing both views and clearly presenting a personal opinion.
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 accurately and appropriately. For example, “financial literacy,” “compound interest,” and “economic hardships.”
Grammatical Range and Accuracy: The essay displays a variety of complex structures used accurately. There are no noticeable errors, and sentence structures are diverse.
Development of Ideas: Each main point is well-developed with relevant examples and explanations, such as the example of compound interest motivating early saving.
Now, let’s examine a Band 7 essay on the same topic.
Band 7 Essay Sample
The question of whether schools should teach financial management to children has become a topic of debate in recent years. While some believe it is essential for schools to include this in their curriculum, others argue that it falls outside the scope of traditional education. This essay will discuss both viewpoints and provide my personal opinion on the matter.
Those in favor of teaching financial management in schools argue that it prepares students for real-life challenges. They believe that equipping children with knowledge about budgeting, saving, and investing from an early age can help them make better financial decisions as adults. This importance of financial education in reducing poverty is well-documented, as financially literate individuals are more likely to manage their resources effectively and avoid debt traps.
On the contrary, opponents of this idea contend that financial education should be the responsibility of parents or specialized institutions. They argue that school curricula are already overloaded, and adding another subject would put unnecessary pressure on students and teachers alike. Moreover, they believe that financial practices change rapidly, making it difficult for schools to provide up-to-date information.
In my opinion, while parents certainly play a crucial role in teaching their children about money, schools are in a unique position to provide structured and comprehensive financial education. By integrating financial management into existing subjects like mathematics or social studies, schools can teach these vital skills without significantly altering their curriculum. Additionally, schools can ensure that all children, regardless of their family background, have access to this important knowledge.
The importance of financial literacy for reducing poverty cannot be overstated. By providing students with a solid foundation in financial management, schools can contribute to creating a more financially stable and prosperous society. Therefore, I believe that financial education should be incorporated into school curricula, albeit in a balanced manner that does not overwhelm students or detract from other important subjects.
(Word count: 309)
Students participating in a financial literacy workshop
Explanation of Band 7 Score
This essay demonstrates the characteristics of a Band 7 response:
Task Achievement: The essay addresses all parts of the task, presenting both views and offering a personal opinion. However, the ideas could be developed more fully.
Coherence and Cohesion: The essay is generally well-organized with clear progression. Paragraphing is logical, and cohesive devices are used, though not always with complete flexibility.
Lexical Resource: A sufficient range of vocabulary is used with some flexibility and precision. There are attempts at less common vocabulary, though not always with full accuracy.
Grammatical Range and Accuracy: A variety of complex structures are used, generally with good control. There may be occasional errors, but they do not impede communication.
Development of Ideas: Main ideas are extended and supported, though some points could be elaborated further or supported with more specific examples.
Now, let’s examine a Band 6 essay on the same topic.
Band 6 Essay Sample
Nowadays, some people think schools should teach children about managing money, while others believe this is not the school’s job. This essay will discuss both sides and give my opinion.
Firstly, those who support teaching money management in schools say it’s important for children’s future. They think if kids learn about saving and spending wisely early, they will make better choices when they grow up. For example, if students learn about how credit cards work, they might avoid getting into debt later. Also, some people argue that financial education should be mandatory in schools because not all parents can teach their children about money.
On the other hand, some people think schools shouldn’t teach about money. They say schools already have too many subjects to teach, and adding more will make it hard for students. They believe parents should teach their children about money at home. Also, they think money matters change quickly, so what schools teach might become old information soon.
In my opinion, I think schools should teach some basic things about money, but not as a full subject. They could include lessons about saving and budgeting in math classes. This way, all students can learn important money skills without adding too much to their studies. I think this is good because many young people struggle with money problems when they start working, and learning about it in school could help them.
To conclude, while there are arguments for and against teaching financial management in schools, I believe a balanced approach of including some financial education within existing subjects would be beneficial for students’ future financial well-being.
(Word count: 276)
Student creating a personal budget plan
Explanation of Band 6 Score
This essay demonstrates the characteristics of a Band 6 response:
Task Achievement: The essay addresses the task, presenting both views and offering a personal opinion. However, the ideas are not fully developed, and some aspects of the task may be dealt with more fully than others.
Coherence and Cohesion: There is a clear overall progression, but some paragraphs may not be well-linked. Cohesive devices are used but may be overused or underused.
Lexical Resource: An adequate range of vocabulary is used for the task. There may be some inaccuracies in word choice or collocation, but they do not impede communication.
Grammatical Range and Accuracy: A mix of simple and complex sentence forms is used. There are some grammatical errors, but they rarely impede communication.
Development of Ideas: Some main ideas are extended and supported, but the development may be uneven. Examples are given, but they may not always be clearly relevant or well-explained.
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
- Compound interest (noun) – /ˌkɒmpaʊnd ˈɪntrəst/ – Interest calculated on the initial principal and accumulated interest of previous periods
- Financial stability (noun) – /faɪˈnænʃəl stəˈbɪləti/ – The condition in which the financial system is capable of withstanding shocks
- Empowering (adjective) – /ɪmˈpaʊərɪŋ/ – Giving someone the authority or power to do something
- Equitable (adjective) – /ˈekwɪtəbl/ – Fair and impartial
- Collaboration (noun) – /kəˌlæbəˈreɪʃn/ – The action of working with someone to produce something
- Overburden (verb) – /ˌəʊvəˈbɜːdn/ – Load with too great a burden
- Prosperity (noun) – /prɒˈsperəti/ – The state of being prosperous, especially in financial respects
In conclusion, the topic of teaching financial management in schools is likely to remain relevant in IELTS Writing Task 2 exams. To prepare effectively, practice writing essays on similar topics, such as:
- The role of schools in teaching life skills beyond academic subjects
- The importance of financial education for young adults
- Balancing traditional subjects with practical life skills in education
We encourage you to try writing your own essay on this topic and share it in the comments section for feedback and discussion. This active practice is an excellent way to improve your IELTS Writing skills and prepare for the exam.