Financial education and personal debt management have become increasingly prevalent topics in IELTS Writing Task 2, appearing in approximately 15% of recent examination questions. Understanding how to approach these subjects is crucial for achieving a high band score. Let’s examine one common question type that has appeared in recent tests.
Financial education concepts including budgeting charts and debt reduction strategies
Task Analysis & Sample Question
Some people believe that schools and universities should teach students about managing money and avoiding debt. Others think financial education should be the responsibility of families. Discuss both views and give your opinion.
This question requires candidates to:
- Discuss two contrasting viewpoints about financial education
- Present and support their own opinion
- Provide relevant examples and explanations
Band 9 Sample Essay
As personal debt continues to rise globally, there is ongoing debate about whether importance of financial literacy in reducing debt should be taught in educational institutions or left to families. While both approaches have merit, I believe a combination of school-based and family-based financial education is most effective.
Those who support institutional financial education argue that schools and universities can provide structured, comprehensive learning about money management. Professional educators can teach students about budgeting, investment strategies, and debt avoidance using proven pedagogical methods. Moreover, institutional teaching ensures all students receive equal access to financial knowledge, regardless of their family background.
Conversely, proponents of family-based financial education contend that parents are better positioned to teach children about money management through real-world experiences. They can demonstrate best ways to track monthly expenses and provide practical guidance on saving and spending decisions. Additionally, families can tailor financial lessons to their specific circumstances and cultural values.
In my opinion, the most effective approach combines both institutional and family-based education. Schools can provide the theoretical framework and fundamental concepts, while families can reinforce these lessons through practical application. This complementary approach ensures students develop both academic understanding and real-world financial skills.
Students in classroom studying financial management concepts
Band 7 Sample Essay
The question of who should be responsible for teaching financial management to young people has become increasingly important in today’s society. Both educational institutions and families have potential roles to play in this area.
On one side, schools and universities can provide systematic financial education. Teachers can explain important concepts like strategies for paying off credit card debt and budgeting methods. This approach ensures that all students receive basic financial knowledge, which is particularly important for those whose families may lack financial expertise.
However, families also play a crucial role in financial education. Parents can teach children about money through everyday situations and share personal experiences about importance of planning for financial emergencies. This hands-on approach helps children develop practical money management skills.
I believe that both schools and families should share responsibility for financial education. While schools can provide structured learning, families can offer practical experience and reinforce these lessons at home. This combined approach would be most beneficial for young people’s financial future.
Key Vocabulary
- Financial literacy (n) /faɪˈnænʃəl ˈlɪtərəsi/ – Understanding of financial concepts
- Pedagogical (adj) /ˌpedəˈɡɒdʒɪkəl/ – Related to teaching methods
- Budgeting (n) /ˈbʌdʒɪtɪŋ/ – Planning how to spend money
- Debt avoidance (n) /det əˈvɔɪdəns/ – Strategies to prevent owing money
- Real-world experience (n) /rɪəl wɜːld ɪkˈspɪəriəns/ – Practical knowledge from actual situations
Writing Task Tips
- Always analyze both perspectives thoroughly
- Use specific examples to support your arguments
- Maintain a clear structure throughout your essay
- Include relevant topic vocabulary
- Express your opinion clearly in discussion essays
Consider practicing with similar topics such as:
- The role of technology in personal finance management
- Government responsibility in preventing citizen debt
- Financial education for different age groups
Share your practice essays in the comments section for feedback and improvement suggestions.
