Financial literacy is a topic that has gained significant attention in recent years, particularly in the context of education. The question of Why Financial Literacy Should Be Taught In Schools has become increasingly relevant in IELTS Writing Task 2 essays. Based on an analysis of past IELTS exams and current educational trends, it’s highly likely that this topic will continue to appear in future tests. Let’s explore a sample question and provide model answers to help you prepare for this important subject.
Analyzing the Task 2 Question
Some people believe that schools should teach children how to manage money. Others think that this is not the responsibility of schools. Discuss both these views and give your own opinion.
This question falls under the “discuss both views and give your opinion” category, which is a common format in IELTS Writing Task 2. It requires you to:
- Discuss the view that schools should teach financial literacy
- Discuss the opposing view that it’s not the school’s responsibility
- Provide your own opinion on the matter
Let’s break down the question and provide two sample essays – one for a Band 7-8 score and another for a Band 6-7 score.
Sample Essay 1 (Band 7-8)
In today’s complex financial world, the debate over whether schools should include money management in their curriculum has gained significant traction. While some argue that financial literacy is a crucial life skill that should be taught in educational institutions, others believe this responsibility lies elsewhere. This essay will examine both perspectives and offer my personal viewpoint on this contentious issue.
Proponents of teaching financial literacy in schools argue that it equips students with essential life skills. In an increasingly complex economic landscape, understanding concepts such as budgeting, saving, and investing from an early age can lead to better financial decision-making in adulthood. Moreover, schools provide a structured environment where children from all backgrounds can gain equal access to this vital knowledge, potentially breaking cycles of financial illiteracy that may exist in some families.
On the other hand, those who oppose this idea contend that schools already have a full curriculum and adding financial education would overburden both teachers and students. They argue that parents should be responsible for teaching their children about money management, as it is a personal matter that varies greatly depending on individual circumstances. Additionally, some believe that financial institutions or community organizations are better equipped to provide this specialized knowledge.
In my opinion, while parents certainly play a crucial role in shaping their children’s financial habits, schools should indeed incorporate financial literacy into their curriculum. The universal nature of schooling ensures that all children, regardless of their background, have the opportunity to learn these critical skills. Furthermore, integrating financial concepts into existing subjects like mathematics or social studies can provide practical context to theoretical knowledge, enhancing overall learning outcomes.
In conclusion, despite valid concerns about curriculum overload, the benefits of teaching financial literacy in schools far outweigh the drawbacks. By equipping students with the tools to navigate the complex financial world, we can foster a more financially savvy and responsible generation, better prepared for the economic challenges of the future.
(Word count: 309)
Financial literacy education in schools
Sample Essay 2 (Band 6-7)
In recent years, there has been a growing debate about whether schools should teach children how to manage money. Some people think this is a good idea, while others believe it’s not the school’s job. This essay will look at both sides of this argument and give my opinion.
Those who support teaching financial literacy in schools say it’s an important life skill. They argue that understanding how to manage money can help students make better decisions about their finances when they grow up. For example, learning about budgeting and saving in school could help prevent debt problems later in life. Also, not all parents know enough about finance to teach their children, so schools can make sure all students have this knowledge.
On the other hand, some people think schools shouldn’t teach financial literacy. They believe that schools already have too many subjects to teach, and adding money management would take time away from other important subjects like math and science. These people often say that parents should teach their children about money at home, as it’s a personal matter.
In my view, I think schools should teach financial literacy. While it’s true that parents can teach their children about money, not all parents have the knowledge or time to do this well. Schools can provide a structured way to learn about finance that ensures all children have the same opportunity to gain this important knowledge. However, I believe it should be done in a way that doesn’t overburden the existing curriculum, perhaps by integrating it into math lessons or offering it as an optional course.
To conclude, although there are arguments against teaching financial literacy in schools, I believe the benefits outweigh the drawbacks. By giving students the tools to manage their money effectively, we can help create a more financially responsible society in the future.
(Word count: 295)
Key Points to Remember When Writing
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Structure: Both essays follow a clear structure with an introduction, body paragraphs discussing both views, the writer’s opinion, and a conclusion. This structure is crucial for achieving a high band score.
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Language: The Band 7-8 essay uses more sophisticated vocabulary and complex sentence structures, while the Band 6-7 essay uses simpler language. Both are correct, but the higher band essay demonstrates a greater range of language skills.
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Coherence and Cohesion: Both essays use linking words and phrases to connect ideas smoothly. The Band 7-8 essay does this more effectively, creating a more cohesive argument.
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Task Response: Both essays fully address all parts of the question, but the Band 7-8 essay provides more developed ideas and a clearer, more nuanced opinion.
Important Vocabulary to Remember
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Financial literacy (noun) /faɪˈnænʃəl ˈlɪtərəsi/: The ability to understand and effectively use various financial skills.
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Curriculum (noun) /kəˈrɪkjələm/: The subjects comprising a course of study in a school or college.
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Budgeting (noun) /ˈbʌdʒɪtɪŋ/: The process of creating a plan to spend your money.
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Economic landscape (noun phrase) /ˌiːkəˈnɒmɪk ˈlændskeɪp/: The overall economic environment or situation.
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Financial institutions (noun) /faɪˈnænʃəl ˌɪnstɪˈtjuːʃənz/: Organizations that deal with financial and monetary transactions.
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Overburden (verb) /ˌəʊvəˈbɜːdn/: To give someone more work or responsibility than they can deal with.
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Integrate (verb) /ˈɪntɪɡreɪt/: To combine one thing with another so that they become a whole.
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Financial savvy (adjective) /faɪˈnænʃəl ˈsævi/: Having practical knowledge and understanding of finance.
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Debt problems (noun phrase) /det ˈprɒbləmz/: Issues related to owing money.
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Optional course (noun phrase) /ˈɒpʃənl kɔːs/: A class that students can choose to take but is not required.
Conclusion
The topic of financial literacy in schools is likely to remain relevant in IELTS Writing Task 2 essays. To prepare, practice writing essays on related topics such as:
- The role of education in preparing students for real-world challenges
- The balance between academic subjects and life skills in school curricula
- The responsibility of schools versus parents in teaching practical life skills
By mastering this topic and understanding how to structure your essay effectively, you’ll be well-prepared for similar questions in your IELTS exam. Remember to practice regularly and focus on developing your vocabulary and grammar to achieve a higher band score.
For more practice on IELTS Speaking topics related to finance, you might find these resources helpful:
- How to Describe a Time You Had to Make a Financial Decision in IELTS Speaking
- Describe a Time When You Learned Something Valuable
These topics can help you build relevant vocabulary and ideas that you can also apply to your Writing Task 2 essays on financial literacy.
