Financial planning is a crucial topic that frequently appears in IELTS Writing Task 2 essays. Based on recent trends and historical data from various IELTS preparation websites, we can expect this theme to continue being a popular choice for examiners. Let’s explore a relevant question that has been seen in past IELTS exams and is likely to appear again in future tests.
Some people believe that teaching children how to manage money is the parents’ responsibility. Others think that schools should teach children about financial management. Discuss both views and give your own opinion.
Analyzing the Question
This question focuses on the importance of financial education for children and asks us to consider two perspectives:
- Parents should be responsible for teaching children about money management.
- Schools should take on the role of teaching financial management to children.
The task requires us to discuss both viewpoints and provide our own opinion. This is a classic example of an IELTS Writing Task 2 question that tests your ability to present a balanced argument and express your personal stance.
Sample Essay 1 (Band 8-9)
Financial literacy is a crucial life skill, and there is ongoing debate about whether parents or schools should bear the primary responsibility for teaching children about money management. While both parties play important roles, I believe that parents should take the lead in this area, supported by formal education in schools.
Parents are uniquely positioned to teach their children about financial management through real-life experiences and daily interactions. They can involve children in household budgeting, explain the concept of saving during shopping trips, and demonstrate responsible credit card use. This hands-on approach allows children to witness financial decision-making in action and understand its practical implications. Moreover, parents can tailor their teachings to their family’s specific financial situation and values, making the lessons more relevant and impactful.
On the other hand, schools can provide a structured and comprehensive approach to financial education. They can offer dedicated classes on personal finance, covering topics such as budgeting, investing, and understanding financial products. This formal education ensures that all children, regardless of their parents’ financial literacy levels, have access to essential financial knowledge. Additionally, schools can bring in financial experts as guest speakers, providing students with diverse perspectives on money management.
While both approaches have merit, I believe that parents should take primary responsibility for their children’s financial education. The home environment offers countless opportunities for practical learning that cannot be replicated in a classroom setting. Parents can start teaching basic concepts from an early age and gradually introduce more complex ideas as children grow older. This ongoing, real-world education is invaluable in developing healthy financial habits.
However, this does not mean that schools should be excluded from the process. Ideally, financial education should be a collaborative effort between parents and schools. Schools can reinforce and expand upon the foundational knowledge provided at home, offering a more theoretical understanding of financial systems and economics. This dual approach ensures that children receive a well-rounded financial education, combining practical experience with academic knowledge.
In conclusion, while schools have an important role to play in financial education, parents should take the lead in teaching their children about money management. This approach, supported by formal education in schools, will best equip children with the financial skills they need to navigate the complexities of modern economic life.
(Word count: 377)
Family discussing finances
Sample Essay 2 (Band 6-7)
In today’s world, knowing how to manage money is very important. Some people think parents should teach children about this, while others believe it’s the job of schools. I think both parents and schools have a role to play in teaching kids about money.
Parents can teach their children a lot about money at home. They can show kids how to save money, how to spend wisely, and how to make a budget. For example, parents can give their children pocket money and teach them how to use it responsibly. This kind of learning is practical and can help children understand real-life situations.
On the other hand, schools can also teach about money management. They can have special classes about personal finance, where students learn about things like banking, taxes, and investing. Schools can make sure that all children get the same basic knowledge about money, which is important because not all parents might know enough about finance to teach their kids.
In my opinion, both parents and schools should work together to teach children about money. Parents can provide real-life examples and practical experiences, while schools can offer more formal education on financial topics. This way, children can learn both the everyday aspects of money management and the more complex ideas about finance.
For example, parents can teach their children how to save money for something they want to buy, while schools can explain how interest rates work. By combining these two types of learning, children can get a complete understanding of how to manage money.
To conclude, I believe that financial education for children should be a shared responsibility between parents and schools. This approach will give children the best chance to become financially responsible adults 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 each viewpoint, the writer’s opinion, and a conclusion. This organization is crucial for achieving a high band score.
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Language: The Band 8-9 essay uses more sophisticated vocabulary and complex sentence structures, while the Band 6-7 essay uses simpler language but still maintains clarity.
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Coherence and Cohesion: Both essays use linking words and phrases to connect ideas smoothly. The Band 8-9 essay demonstrates more advanced cohesion techniques.
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Task Response: Both essays address all parts of the question, but the Band 8-9 essay provides more detailed examples and a more nuanced argument.
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Development of Ideas: The Band 8-9 essay explores ideas in greater depth and provides more specific examples to support arguments.
Vocabulary to Remember
- Financial literacy (noun) /faɪˈnænʃəl ˈlɪtərəsi/ – the ability to understand and effectively use various financial skills
- Budget (noun, verb) /ˈbʌdʒɪt/ – a plan for spending money; to plan how to spend money
- Invest (verb) /ɪnˈvest/ – to put money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit
- Financial management (noun) /faɪˈnænʃəl ˈmænɪdʒmənt/ – the planning, directing, monitoring, organizing, and controlling of monetary resources
- Economic life (noun) /ˌiːkəˈnɒmɪk laɪf/ – the aspects of life related to finance and the economy
- Pocket money (noun) /ˈpɒkɪt ˌmʌni/ – money given to children by their parents, typically on a regular basis
- Personal finance (noun) /ˈpɜːsənl faɪˈnæns/ – the management of an individual’s or family’s financial situation
- Financial products (noun) /faɪˈnænʃəl ˈprɒdʌkts/ – goods and services offered by banks and other financial institutions
- Financial literacy levels (noun) /faɪˈnænʃəl ˈlɪtərəsi ˈlevlz/ – the degree to which individuals understand and can use financial concepts
- Financially responsible (adjective) /faɪˈnænʃəli rɪˈspɒnsəbl/ – capable of managing money and making sound financial decisions
In conclusion, the topic of financial planning for families is likely to remain relevant in IELTS Writing Task 2 essays. To prepare effectively, practice writing essays on related themes such as:
- The importance of teaching financial literacy in schools
- The role of government in promoting financial education
- The impact of technology on personal finance management
- The relationship between financial planning and quality of life
Remember to structure your essays clearly, use appropriate vocabulary, and provide specific examples to support your arguments. Feel free to practice writing an essay on this topic and share it in the comments section for feedback and discussion. This active approach to learning can significantly improve your IELTS writing skills.
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