Financial literacy in schools has become an increasingly common topic in IELTS Writing Task 2 examinations, appearing roughly 3-4 times annually since 2019. Based on analysis of past papers, this theme typically emerges in Agree/Disagree or Discussion type questions, reflecting growing global concerns about youth financial education.
Recent IELTS Question Analysis
Some people believe that schools should make financial education a mandatory subject for all students. To what extent do you agree or disagree with this opinion?
This question requires candidates to present their stance on incorporating financial literacy into mandatory school curriculum, supported by relevant examples and logical reasoning.
Sample Essay 1 (Band 8.5)
In my firm opinion, financial education should absolutely be made compulsory in schools, as it provides crucial life skills that every student needs for their future success and economic well-being.
Firstly, mandatory financial education would help create a more financially responsible generation. Students who understand concepts like budgeting, saving, and investment from an early age are better equipped to make sound financial decisions in adulthood. For instance, in countries like Singapore where financial literacy is emphasized in schools, young adults demonstrate higher rates of saving and lower levels of problematic debt compared to their peers in countries without such education.
Furthermore, financial education can help reduce economic inequality. Many students from disadvantaged backgrounds lack access to financial knowledge at home, making school-based education their only opportunity to learn these crucial skills. For example, in South Korea, the integration of financial education into the curriculum has helped students from lower-income families develop better money management skills, enabling them to break intergenerational cycles of poverty.
Additionally, in our increasingly complex financial world, understanding money matters is becoming as fundamental as reading and writing. With the rise of digital banking, cryptocurrency, and various investment platforms, young people need to understand these modern financial tools to navigate their future effectively. Research shows that individuals with strong financial literacy are less likely to fall victim to scams and make better decisions about loans and investments.
In conclusion, making financial education mandatory in schools is essential for preparing students for real-world challenges. The benefits of such education extend far beyond individual prosperity to contribute to broader societal economic stability.
Sample Essay 2 (Band 6.5)
I agree that financial education should be a mandatory subject in schools because it helps students prepare for their future life.
One important reason is that students need to know how to manage money. Many young people don’t know basic things like how to save money or make a budget. If schools teach these skills, students can avoid money problems when they grow up. For example, my friend who never learned about money management in school got into credit card debt because she didn’t understand interest rates.
Also, financial education can help students make better choices about their future. They can learn about different jobs and how much money they can earn. This helps them choose good careers. In my country, many students choose expensive universities without thinking about student loans, which causes problems later.
The third reason is that financial knowledge helps people avoid scams. There are many fake investment schemes and online scams today. If students learn about these things in school, they can protect themselves better.
In conclusion, I think schools must teach financial education because it helps students in many ways. However, teachers should be trained properly to teach this subject well.
Scoring Analysis
Band 8.5 Essay Analysis:
- Task Response (9): Clear position with fully developed ideas
- Coherence and Cohesion (8): Logical organization with effective paragraphing
- Lexical Resource (8.5): Wide vocabulary range used naturally
- Grammar (9): Various complex structures used accurately
Band 6.5 Essay Analysis:
- Task Response (7): Clear position but less sophisticated development
- Coherence and Cohesion (6): Basic organization with some progression
- Lexical Resource (6): Adequate vocabulary with some repetition
- Grammar (7): Mix of simple and complex sentences with some errors
Key Vocabulary
- financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – understanding of financial concepts
- mandatory (adj) /ˈmændətɔːri/ – required by law or rules
- intergenerational (adj) /ˌɪntəˌdʒenəˈreɪʃənəl/ – existing between generations
- economic inequality (n) /ˌiːkəˈnɒmɪk ˌɪnɪˈkwɒləti/ – differences in economic well-being
- cryptocurrency (n) /ˈkrɪptəʊˌkʌrənsi/ – digital or virtual currency
For practice, try writing your own essay about making arts education mandatory in schools, or whether financial education should start in primary or secondary school. Share your essays in the comments for feedback and discussion.