ielts essay on saving money

• AGREE OR DISAGREE ESSAY
• DISCUSS BOTH VIEWS & GIVE YOUR OPINION
• POSITIVE OR NEGATIVE DEVELOPMENT
• IELTS SUCCESS STORIES
• CUE CARDS & PART 3 DISCUSSIONS (𝐌𝐀𝐘-𝐀𝐔𝐆 𝟐𝟎𝟐𝟒)
• PRIVACY POLICY

IELTS SPEAKING PART 1: SAVING MONEY [ANSWERS]

SAVING MONEY

Are you good at saving money?  

Well, I’ve to admit that I’m not. I’m an impulsive buyer ( a person who buys something without planning in advance as a result of a sudden want) so saving money has always been a serious issue for me. Yes, I really do know that I should prepare for the rainy days ( a time of need) but I just can’t help myself ( cannot stop myself) , every time I see something that catches my attention, I buy them at once ( immediately) .

What kinds of things do people save money for?  

I’m not really sure because every person has different needs or wants so I can only assume ( suppose; presume) , perhaps, people save money for material things such as cars, the latest gadgets, or even a house. Some may set aside ( to keep or save something) some amount of money for traveling or for education like pursuing ( continuing) a Master’s degree.    

Why do you think some people cannot save money?  

This is hilarious ( funny; extremely amusing) since I’m one of those people who lack financial discipline ( refers to how well you conform or obey the set rules of spending and saving) . Considering my experience and as I’ve just said earlier, I buy things impulsively, that is one common reason. Another reason would be some people are drowning in debt ( to owe a lot of money) and saving is impossible or perhaps some are just living beyond their means ( spending money more than what one earns) .

Do you think parents should teach their children about saving?  

I have to say yes, in my opinion, it’s actually every parent’s responsibility to educate their children about saving. Children need to learn how to spend money wisely, financial education should start at an early age so that when they become adults they will achieve financial freedom, and regretfully that’s something I didn’t learn.      

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IELTS WRITING TASK 2 ESSAY - OPINION - MONEY SAVE OR SPEND

Updated: Jun 17, 2020

You should spend about 40 minutes on this task.

Some people think saving money is good, but others think that spending

money is a better way to enjoy life.

Discuss both views and give your own opinion.

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Write at least 250 words.

SAMPLE ANSWER: Number of words: Student: Paola from Peru Band Score: 7.5

We are currently living in an experience economy. Moreover, we are leaning towards consumerism believing that material things will bring happiness. However, we are not paying attention to the future nor having a retirement plan. Although I believe that we should enjoy the present to the fullest spending on experiences, in my opinion, it is also crucial to have a savings or investment plan in place.

There is no doubt that money plays an important role in our lives. The more income you have, the more comfortable life can be. For instance, I have been lucky enough to travel the world and create experiences that will last forever. Moreover, we cannot predict the future and cannot ensure we will live a long life. Therefore, some may argue that we should enjoy every minute while we are alive, going out with friends, dining at the best restaurants, and pampering yourself every now and then.

Are we expecting to become a burden for our families and or the government? This is the main reason why I believe it is extremely important to have investments or a source of income when we retire. Additionally, it will reduce the stress of unforeseen situations such as dealing with an expensive treatment for a health issue or having to help a family member who may need economic support. For instance, five years ago, I used to focus on the present instead of saving for the future. Nowadays, it makes me really worried about the fact I have not invested in property yet which makes me feel quite anxious.

In conclusion, we as individuals must live a more balanced life enjoying the present but also contemplating and planning for the future.

BACK TO MONEY TOPIC

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IELTS Speaking Part 1:Saving Money 

IELTS Speaking Part 1:Saving Money

Did you save money when you were young? 

Money is essential for everyone; if they save, they can easily use it in difficult situations. I also like to save money, and I kept some part of my earnings when I was young,

Have you ever given money to other children?  

Yes, I am altruistic ; whenever I watch a poor child, I give him money. 

Should parents teach children to save money?  

Yes, it is beneficial for every person if parents teach their children how to save money, then they can handle difficult situations quickly. 

Do parents give children pocket money in your culture?

 In my culture, parents mostly give pocket money to their offspring, but it is not beneficial for children because sometimes they use money for useless things.

Are you good at saving money?

 I am perfect at saving money; I keep some of them whenever I have extra funds to earn interest. 

What kind of things do people save money for?  

 Well, there are lots of things people save money, like if they want to purchase a car or house and fulfill their dreams. They start to save their money. 

Why do you think some people cannot save money?  

Some people cannot save money because, according to them, life is for enjoyment, so they spend their money on parties, new clothes, and expensive gadgets.

IELTS Speaking Part 1: Money

01/08/2024 10:22 AM

General Rules:

Here are some general rules about Part 1 that you may find useful. The point of Task 1 is for you to answer shortly to many questions. Think of it like an interview where you need to answer questions about yourself. You should:

Keep it short. When you practice, in general try to answer in 15 to 20 seconds per question. 

Give at least 1 reason and 1 real-life example. again very general but try to have at least 1 real example in your answer., talk about yourself. this part is all related to you (if the question doesn't say another person)..

So, lets take a look at some questions:

Vocabulary related to the topic

Sentence starters and linking words, idioms and phrases, business phrases, do you prefer to save money or spend money.

Answer as a student:

I don't have so much money as I don't work. My parents give me some pocket change for school and occasionally I'd receive money as gifts during holidays. What usually happens Is I buy some things that I want with the little money I have, and then I run out of cash really quickly ! 

My Personal Answer:

I avoid spending as much as possible. I believe I'm a goal-oriented person and I like to save for a rainy day as well as for my own personal goals like buying an apartment, electronics , and traveling. I believe saving money is the responsible , mature , and reasonable thing to do for a person who wants to achieve more in life .

How do you save money?

What do you think about payment apps or mobile payments, do you use a credit card to buy things.

For a student or a teenager:

I'm not old enough to own my personal credit card , but I do use my mom's card from time to time , with her permission of course . These days there are so many things - purchases but also services like for education  we have to pay online , and a credit card is essential , even if we don't want to use one.

Do you think cash will still be popular in the future?

Is money important for a person's happiness.

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Business & Money Essay Titles

IELTS Essay Questions for the Topic of Business and Money. All essay questions below are reported by IELTS candidates and seem to have been repeated over the years. Regardless of the years the questions were reported, you could get any question below in your test. You should, therefore, prepare ideas for all questions given below. The topics below could appear in both GT and Academic IELTS Writing Task 2.

Business & Money Essay Questions for IELTS Writing Task 2

In some countries, a few people earn extremely high salaries. Some people think that this is good for a country, while others believe that the government should control salaries and limit the amount people can earn. Discuss both views and give your opinion. (Reported 2017, 2019, 2020, 2022 Academic Test)

More and more business meetings are taking place online. What are the advantages and disadvantages of this trend? (reported 2021, 2022, 2023)

Due to the development and rapid expansion of supermarkets in some countries, many small, local business are unable to compete. Some people think that the closure of local business will bring about the death of local communities. To what extent do you agree or disagree? (repeated most years)

Companies should provide sports and social facilities for local communities. To what extent do you agree? (Reported 2017, 2021)

If the product is good and meets consumer needs than advertising is unnecessary. To what extent do you agree? (2023)

Large businesses have big budgets for marketing and promotion and as a result, people gravitate towards buying their products. What problems does this cause? What could be done to encourage people to buy local products? (2016, 2020, 2022)

Some countries encourage foreign companies to open in their country. Many people think that the government should focus on encouraging local business rather than foreign businesses. To what extent do you agree?  (reported 2021, 2023)

An increasing number of people are buying what they need online. What are the advantages and disadvantages for both individuals and companies to shopping online? (repeated most years)

Marketing and promotion is the key to a successful business. To what extent do you agree? (repeated frequently)

The performance of staff can have a significant impact on the success of a company. What can companies do to increase staff productivity? (this question is repeated but often with a different focus, for example “Marketing has the most significant impact on the success of a company”. This question offers marketing rather than staff productivity as the most important aspect of success.

Some companies have uniforms for their staff which must be worn at all times. What are the advantages for a company of having a uniform? Are there any benefits of having a uniform for the staff? (repeated most years)

In many countries, it is common for families to own and run their own business. Some people think this is the best way to run a business, while others consider this a potential source of problems. What is your opinion? (2018, 2020, 2022)

Some people think that when recruiting, companies should aim to take on people who are innovative and able to work independently while others considered they should recruit people who are able to work in a team and follow instructions. Discuss both views and give your opinion.

Some people think that the only way to have success in business is to have a unique product. What factors, do you think, influence the success of a company? (reasons for success in business is a frequent question)

Small businesses should avoid recruiting young women who do not have their own family in order to avoid paying maternity leave later on. To what extent do you agree or disagree? (2021)

Sales companies should recruit people who are hungry for money as they will make the most dedicated workers. Do you think money is the driving force behind hard work? What factors should be taken into consideration when recruiting staff for sales positions? (2020)

The reason that most individuals are in debit is due to the overuse as well as irresponsible use of credit cards. Banks should not issue credit cards unless they are completely sure of an individual’s ability to pay back their debits. To what extent do you agree with this? (this question is quite common)

Some people believe that the higher a product is priced, the more likely it is that people will want to buy it. To what extent does price influence potential buyers? What other factors influence people to buy a product? (2015, 2018, 2021)

Some people think that the only way to judge someone’s success in business is by the amount of money they make. Is money a true indicator of the success of a business? In what other ways could success in a business be measured? (frequent question regarding indicators of success)

It is common practice for some students to take a gap year between high school and university in order to do charitable work abroad in underdeveloped countries. What are the advantages and disadvantages for young people of doing volunteer work? (common question)

Rich countries are getting richer while poor countries are getting poorer. What is the cause of this? What could be done to solve this problem? (common question)

Some people think that it is better for a country’s economy for people to spend money, while others believe that it would be better for people to save money. Discuss both sides and give your opinion. (2015, 2018, 2020)  

Reported essay questions are from students who have taken their IELTS test. That means questions may have appeared more frequently than have been reported. These questions may vary slightly in wording and focus from the original question. Also note that these questions could also appear in IELTS speaking part 3 which is another good reason to prepare all topics thoroughly.

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It is better to save money than to spend it. How far do you agree with this statement? Is saving more important than spending in today’s world? Give reasons for your answer, and provide ideas and examples from your own experience. You should write at least 250 words.

IELTS essay It is better to save money than to spend it. How far Is saving more important than spending in today’s world?

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Ielts essay # 1408 - some say that having more money and less free time is better, ielts writing task 2/ ielts essay:, some people say that having more money and less free time is better than earning less money and having more free time., do you agree or disagree.

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People Think That it is Better for a Country’s Economy for People to Spend Money- IELTS Writing Task 2

Updated On Jun 22, 2022

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Some people think that it is better for a country’s economy for people to spend money while others believe that it would be better for people to save money. Discuss both sides and give your opinion.

Discussion Essay

Introduction

Sentences 1&2 – Paraphrase the topic using synonyms to create an understanding of it.

Sentence 3 – Mention that this topic has both sides to discuss, and both are equally important to create a balance.

Body Paragraphs

Paragraph 1 – Elucidate your views on how spending money will stimulate the country’s economy.

Paragraph 2 – Implore how saving money will protect an individual’s future and the coming generations.

Restate your views.

Sample Essay

Several people think that spending is necessary for improving a country’s economy, whereas some argue that saving money is more beneficial. In my opinion, both factors are vital in boosting the economy. However, people should practice a sense of equality or balance per their needs and the nation.

On the one hand, people need to spend money to stimulate the economy because one person’s spending is the earnings of others. Economists believe that governments should encourage consumer spending to end the recession and that people’s expenditure on things is the single most imperative driving force of any country’s economy. Additionally, several businesses can flourish if people spend money on entertainment and luxury. To illustrate, the tourism and hotel industry are based on the people’s expenditures on amusement. In general, money spending is a crucial factor in boosting any economy.

On the other hand, some argue that saving money will protect an individual’s future and the coming generations. They think that investment would generate more money, reinforcing the economy in the longer run. For example, savings in a bank would be reinvested in some businesses, eventually creating a sustainable economy. People supporting this theory believe in mindful spending based on the need for the product. They are opposed to the idea of frivolous spending.

To conclude, although there are some benefits of saving income, people’s expenditure is a must for the overall economic growth of a country. I reckon that for the smooth running of the economy, people should spend money to provide income to various businesses and their employees.

• Beneficial-

Meaning – resulting in good; favourable or advantageous. Example – It is often quite beneficial to decide on a school first and then look for housing after.

Meaning – encourage or arouse interest or enthusiasm in. Example – The up and down movement of the body during running may stimulate bowel activity.

• Expenditure- 

Meaning – the action of spending funds. Example – There had been high expenditure on repairs to the clock and the outside light.

• Imperative- 

Meaning – of vital importance; crucial. Example – It has become imperative for those in the business of rejuvenating the people to create this awareness.

Meaning – (of a living organism) grow or develop in a healthy or vigorous way, especially as the result of a particularly congenial environment. Example – The business will flourish only if you work hard and pay attention to the market trends.

• Reinforcing- 

Meaning – strengthen or support (an object or substance), especially with additional material. Example – Your current routine includes strengthening garage doors, reinforcing your pre-designated safe room, or even elevating coastal homes.

• Sustainable- 

Meaning – able to be maintained at a certain rate or level. Example – While luxury gives us comfort, we should realize that this is not sustainable.

Meaning – not having any serious purpose or value. Example – In such a situation, a handshake is unthinkable and a mere waving of one hand is somehow too frivolous.

Meaning – consider or regard in a specified way. Example – As Jon might expect, I reckon the logical progression is indeed open to argument.

Meaning – taking everything into account. Example – Both legs and abstract shapes contribute to an almost painterly overall compositional effect.

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Money: spending vs. saving.

Do you agree or disagree with the following statement?

It is better to spend money on traveling and vacations than to save money for some time in the future.

Use specific reasons and examples to support your answer.

SAMPLE ESSAY

Some people save all of their money and never spend it. To me, they are just people who do not know how to enjoy their lives. In fact, it is much better for people to spend their money by taking trips or vacations than to save it for the future.

Taking vacations lets people see and learn about new places. Thus, traveling is educational as well as fun. I come from a middle-class family, so we do not have that much money. But my parents manage to take us on a couple of trips every year. Not only do we travel around Korea, but we have also occasionally taken trips abroad. These vacations have been great learning experiences for me. I have gotten to see how other people live and to learn about other cultures. The money was well spent and did much more good than it would have just sitting in some bank account.

Also, people need to enjoy life more. They can do this by spending their hard-earned money on themselves. What is the point of earning money if a person is not going to spend it? Some people just work all of the time and never enjoy their lives. They would be much happier—and become more productive workers—if they spent their money on a trip somewhere. My friend’s parents work all the time yet never travel. Finally, they took a trip recently. When they returned, they looked better and were much happier and more relaxed. Many people could use a trip to make them happier.

People should spend their money on trips or vacations and not bother saving all of it. Trips can introduce new places and cultures to people. In addition, they can help people become happier. I am so grateful that my parents take us on trips instead of putting all of their money in the bank.

(314 Words)

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Toefl writing topic: spend money on a vacation or a car, leave a reply cancel reply.

People should plan for their retirement by saving money. Do you agree or disagree with this statement?

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Your opinion

Don’t put your opinion unless you are asked to give it.

If the question asks what you think, you MUST give your opinion to get a good score.

Don’t leave your opinion until the conclusion.

Here are examples of instructions that require you to give your opinion:

...do you agree or disagree? ...do you think...? ...your opinion...?

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• financial security
• peace of mind
• comfortable living standard
• compound interest
• unexpected expenses
• financial stress
• well-funded retirement
• government pensions
• retirement benefits
• cost of living
• economic uncertainties
• financial discipline
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It is neither possible nor useful to provide university places for a high proportion of young people. To what extent do you agree or disagree?

The crime rates now-a-days is decreasing compared to the past due to advance technology which can prevent and solve crime. do you agree or disagree, some people think that children should learn how to compete, but other think that children should be taught to cooperatevto become more useful adults. express some reasons for both views and give your opinion., the position of women in society has changed markedly in the last twenty years. many of the problems young people now experience, such as juvenile delinquency, arise from the fact that many married women now work and are not at home to care for their children. to what extent do you agree or disagree with this opinion, many people work long hours, leaving very little time for leisure activities. does this situation have more advantages or more disadvantages give reasons for your answer and include any relevant examples from your own knowledge or experience..

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• IELTS Sample Essay 7 – Children Spending Saving Money

In   the past children were taught how to save money, but today they only learn how to spend it.  Do you agree?

It is often heard that nowadays children know only how to spend money, but not to save it.  Mostly, elderly people have this opinion ,  whereas the young generation argues that children are taught to save as well as spend.

Those who believe that there has been no change that children are taught to save money nowadays also have a number of examples to point out.   For instance, in many countries, especially in the West, children are encouraged to save money in the form of depositing whatever they earn in bank accounts opened exclusively for children by their parents.  In addition, at present children are more aware of what they want to become in their life, what dreams to be fulfilled and the financial needs of those goals.

On the contrary, it is quite obvious that compared to previous generations, there has been a new stress on spending, primarily due to changes in the lifestyle of people. As part of this new lifestyle, children get umpteen number of clues on how to spend enough and live in the present rather than save money for the future needs.  Furthermore, consumerism combined with the widespread availability of credit plays a big role in ensuring that whatever earned is spent.  Most importantly, the consumer market purely dedicated to the needs of children is ever growing so that even if children are taught to save money, they wouldn’t be able to do so.

To sum up, I would argue that children nowadays are not taught enough to save money and control their spending and instead they are actually encouraged to spend more.

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• IELTS Writing Task 2 Sample Essay 1 – Short Water Supply
• IELTS Sample Essay 2 – Meeting Someone For the First Time
• IELTS Sample Essay 3 – Marry For Love or Money
• IELTS Sample Essay 4 – Children’s Behaviour
• IELTS Sample Essay 5 – Worsening Children’s Behavior
• IELTS Sample Essay 6 – Older People Working
• IELTS Sample Essay 8 – Consumerism
• IELTS Sample Essay 9 – Natural Resources and Economic Growth
• IELTS Sample Essay 10 – No Restrictions on Immigration
• IELTS Sample Essay 11 – Fewer Female Leaders
• IELTS Sample Essay 12 – Future Developments
• IELTS Sample Essay 13 – Shopping is Dangerous
• IELTS Sample Essay 14 – Work to Live or Live to Work
• IELTS Sample Essay 15 – International Travel

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