IELTS Writing Task 2 Sample Essays: Teaching Financial Literacy – Analysis and Examples for Band 6-9

Financial literacy has become an increasingly popular topic in IELTS Writing Task 2, appearing in various forms over the past few years. The importance of teaching financial literacy in schools has been featured in approximately 15% of education-related questions since 2019. Let’s examine a recent task and analyze sample responses across different band scores.

Task Analysis

Some people believe that schools should teach children about money management and investment. To what extent do you agree or disagree with this opinion?

This question requires candidates to express their views on incorporating financial education into school curricula. The task is an agree/disagree essay that demands a clear position and well-supported arguments.

Students learning about financial literacy in a modern classroom setting

Sample Essay 1 (Band 8.5)

Financial education is increasingly recognized as a crucial life skill, and I strongly agree that schools should integrate money management and investment into their curriculum. This essay will explore the significant benefits of teaching financial literacy to students.

Firstly, early exposure to financial concepts helps develop responsible money habits. When students learn about the importance of teaching financial management, they are better equipped to make informed decisions about spending, saving, and investing in their future. For instance, understanding compound interest can motivate young people to start saving early, potentially leading to greater financial security in adulthood.

Moreover, financial education can prevent future economic hardships. Students who understand the role of financial education in reducing personal debt are less likely to fall into credit card traps or make poor financial choices. This knowledge becomes particularly valuable when they need to understand complex financial products like mortgages or investment vehicles.

In conclusion, incorporating financial education into school curricula is essential for preparing students for real-world challenges. This investment in financial literacy will yield long-term benefits for both individuals and society.

Sample Essay 2 (Band 6.5)

I agree that schools should teach children about money management because it is important for their future. There are several reasons why this is a good idea.

First, knowing about money helps students in their adult life. When they learn about saving and spending, they can make better choices with their money. For example, they will know how to save money for important things instead of wasting it.

Second, understanding money matters stops people from having money problems later. If students learn about importance of credit card management for financial success, they won’t get into debt easily. This is very important because many young people have problems with credit cards.

In conclusion, I think schools should definitely teach about money management because it helps students have a better future.

Scoring Analysis

Band 8.5 Essay Features:

• Sophisticated vocabulary: “integrate,” “compound interest,” “economic hardships”
• Complex sentence structures
• Clear progression of ideas
• Strong cohesion and coherence
• Well-developed arguments

Band 6.5 Essay Features:

• Simple but clear vocabulary
• Basic sentence structures
• Adequate development of ideas
• Some repetition
• Limited use of complex language

Key Vocabulary

1. Financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – ability to understand and manage money
2. Compound interest (n) /ˈkɒmpaʊnd ˈɪntrəst/ – interest calculated on initial principal and accumulated interest
3. Economic hardship (n) /ˌekəˈnɒmɪk ˈhɑːdʃɪp/ – financial difficulty
4. Investment vehicles (n) /ɪnˈvestmənt ˈviːɪkəlz/ – different types of investment options
5. Financial security (n) /faɪˈnænʃəl sɪˈkjʊərəti/ – state of having stable finances

Advanced Sentence Patterns

1. Complex with relative clause:
   “Students who understand financial concepts are better prepared for adult life.”

2. Conditional structure:
   “If financial education were mandatory in schools, future generations would be better equipped to handle money.”

3. Cause and effect:
   “By teaching financial literacy early, schools can prevent students from making costly mistakes later in life.”

Consider practicing by writing your own essay on this topic and sharing it in the comments section for feedback and discussion.