Monthly expenses and personal finance management have been recurring themes in IELTS Writing Task 2, appearing in approximately 15% of tests between 2020-2023. This topic’s relevance continues to grow given global economic challenges and increasing cost of living concerns.
Let’s examine a recent IELTS question that exemplifies this theme:
Some people believe that individuals should be responsible for reducing their monthly expenses to save money, while others think governments should implement policies to help people save. Discuss both views and give your opinion.
Analysis of the Question
- Topic: Personal finance management and government intervention
- Task: Discuss both views + opinion
- Key areas to address:
- Individual responsibility
- Government policies
- Personal stance with justification
Band 8.5 Sample Essay
In the contemporary economic landscape, the debate over whether individuals or governments should take primary responsibility for expense reduction has gained significant traction. While both approaches have merit, I believe a balanced combination of personal accountability and governmental support is most effective.
From an individual perspective, people must take ownership of their spending habits as they are ultimately responsible for their financial decisions. By tracking expenses, creating budgets, and making informed choices about purchases, individuals can significantly reduce their monthly outgoings. For instance, comparing prices across retailers, using public transportation instead of private vehicles, and minimizing unnecessary subscriptions are practical steps that can lead to substantial savings. These personal actions demonstrate financial literacy and responsible money management.
However, government intervention also plays a crucial role in helping citizens manage their expenses. Through policy implementation, authorities can create an environment conducive to saving. This might include regulations on banking fees, controls on utility prices, and tax incentives for saving schemes. For example, Singapore’s government has successfully implemented policies such as housing subsidies and mandatory retirement savings schemes, which have helped citizens better manage their expenses while building long-term financial security.
In my opinion, the most effective approach combines both individual responsibility and government support. While individuals must actively manage their spending, governmental frameworks can provide the necessary tools and incentives for successful saving. This synergy creates a sustainable financial environment where personal effort is supported by systematic policy measures.
Band 6.5 Sample Essay
Nowadays, many people discuss about who should be responsible for helping people to save money – themselves or the government. I think both sides have good points and I will discuss them in this essay.
On one side, people should take care of their own money. They can do many things to spend less money every month. For example, they can make a list before shopping, use discount coupons, and cook at home instead of eating at restaurants. Also, they can find cheaper places to live and use less electricity and water. These actions help them save money without waiting for help from others.
But government also has important job to help people save money. They can make rules to control prices and give people ways to save money easier. Like when government makes laws to stop companies from charging too much money for basic things. They can also give tax benefits to people who save money in banks. This helps everyone in the country to manage money better.
I think both people and government need to work together. People should try their best to save money, but government should help make it easier. When both sides do their part, everyone can save more money and have better life.
Analysis of Band Scores
Band 8.5 Essay Features:
- Sophisticated vocabulary and complex structures
- Clear progression of ideas
- Well-developed arguments
- Excellent cohesion and coherence
- Minimal grammatical errors
Band 6.5 Essay Features:
- Simple but clear vocabulary
- Basic argument development
- Some grammatical errors
- Limited use of complex structures
- Adequate cohesion but less sophisticated
Key Vocabulary to Remember
- financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – understanding of financial matters
- expenditure (n) /ɪkˈspendɪtʃər/ – amount of money spent
- monetary (adj) /ˈmʌnɪteri/ – relating to money
- incentive (n) /ɪnˈsentɪv/ – something that encourages a particular action
- synergy (n) /ˈsɪnədʒi/ – combined effect greater than individual parts
In conclusion, addressing monthly expenses remains a crucial IELTS Writing Task 2 topic. For practice, consider writing about related topics such as:
- The role of financial education in schools
- Impact of digital payment systems on spending habits
- Relationship between income levels and saving abilities
Share your practice essays in the comments section for feedback and improvement suggestions.