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• Oct 8, 2019

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.

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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.

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IELTS Topic: Money

Posted by David S. Wills | Jul 29, 2018 | IELTS Tips | 4

Can money make you happier ? Does money make the world go round? That’s what some people say. In any case, money is important in our daily lives and so it is also a topic that may come up in the IELTS exam. Therefore, you should be ready to talk about it.

Money in the IELTS Exam

Money could theoretically appear in any part of the IELTS exam. It is probably most common in the listening exam , where it often appears in section 1. In this case, you may hear someone talking about prices, and you should write down the correct answer – for example, £15. It is pretty simple, except sometimes the speaker may talk about things like annual fees, subscriptions, and discounts. These are all common concepts within the topic of money, and you should be aware of them.

Here’s an example transcript:

The new prices for annual membership are five hundred pounds for adults and three hundred pounds for children. There is a one-time set-up fee of fifty pounds, although this month were are running a promotion, so there is a discount of 30%.

You can see that there are many numbers relating to different sorts of prices. Section 1 of the IELTS listening example will not be particularly challenging, but you should be aware of words like the following:

• Subscription

Money could come up in the reading exam in various ways. It could be the topic of a passage, or else it could be simply mentioned. For example, if you are reading a passage about the scale of Hollywood movies these days, they might have information about box office sales or payments to actors and actresses.

Often you will have to scan a text to find the right number, and it will not be straightforward. You may simply be able to scan to find all the numbers in the text and then search for the correct answer, or else you may have to scan for an idea and then look for numbers around it. This is a key reading skill that you should practice often before an exam.

Money often features in IELTS writing task 1 in a line graph , table , bar chart , or pie chart . You might have to describe changes in price over time, or compare the prices of various goods. I have many articles on this website about describing trends and making comparisons, but you should also know how to write about money in general.

For example, you should do the following:

• The average price per kilo rose to $450 in 1997.
• The average price per kilo rose to 450$ in 1997.

In other words, don’t write the dollar or pound symbol after the number. This is not common in English. You may be able to write out the word or three-letter abbreviation after the number, however:

• 4,000 dollars

When using smaller parts of currency , you’d best keep your writing simple:

Instead of writing:

• Two dollars and fifty-two cents
• Seven pounds and sixty-four pence

The reason for this is simply that it’s too easy to make a mistake. If you were to write pounds and cents, it would be incorrect. In the UK, we use pounds and pence.

However, generally, in this part of the exam, you will use larger figures such as thousands, millions, and billions. Take the time to learn about these units as they become increasingly important in the twenty-first century.

Often, the IELTS writing task 1 will show units on a line graph like this:

(in millions of dollars) … 3,400

So what would you write? 3,400 million dollars?

3,400,000,000 is written as $3.4 billion.

This is a common feature and I’ve seen countless students make the above mistake.

In IELTS writing task 2, money is a possible topic. Usually, it’s about whether money is the “most important” factor in happiness or job satisfaction. Here is an example:

The most important thing about a job is how much money you earn. To what extent do you agree or disagree?

In this case, you wouldn’t need much specialist vocabulary. Instead, you could use quite basic money-related words and phrases, which we’ll cover in the next section.

Money could well appear in any of the three parts of the speaking exam . In part one, you may be asked about shopping or spending habits. Then, in part two, you may have to describe a major purchase or something valuable. In part three, the questions will be more difficult and may be similar to those mentioned for the writing task 2 above: money and happiness, etc.

It is unlikely that you would need to be able to talk about prices in depth, but a good grasp of numbers if important whether you’re learning English for travel , work, or study.

You will definitely need to know basic money vocabulary, so we’ll look at that next:

Money Vocabulary for IELTS

Here are some good nouns related to money:

• Credit card
• Cheque (British English)
• Check (American English)
• Bank account

And some very useful verbs:

I’ll use some of the words from above, as well as some others, to form some useful examples:

Q: Are you good at saving money? A: No, I’m hopeless at saving money. As soon as I get my paycheque , I go out and spend it. I hope that in future I can save and invest wisely, but right now I’m more likely to borrow from my friends just to make ends meet .

Here’s a more general example:

After a cheque is deposited in the bank , it can take several days for the money to clear . Once it has been successfully added to your account , you can then withdraw the cash , if you like.

Money Verbs and Prepositions

Here’s a lesson that I posted on my Facebook page a while ago that explains how we collocate certain verbs and prepositions when talking about money. Note that these can also be used for time and energy!

Example Answer for IELTS Writing Task 1 [Money topic]

I will write a sample answer for an IELTS writing task 1 question that relates to money and spending.

You should spend about 20 minutes on this task. The graph below shows the amount of money spent on books in Germany, France, Italy and Austria between 1995 and 2005. Write a report for a university lecturer describing the information below. Write at least 150 words. The line graph shows how much money is spent on books in four different European countries over a ten year period. In each of the countries, people spent more on books in 2005 than 1995. German people spent the most money on books over the entire period, ranging from $80 million to about $95 million. The total spent increased through the late nineties before declining at the beginning of the new millennium. It finally rose to a new high by the end of the period. France showed a similar trend, although instead of falling, the amount of money stalled between 2001 and 2003, before growing to a final high of about $75 million in 2005. Italy began the documented period as the third highest spender on reading material, but ended up spending the least after Austria overtook them between 2003 and 2005. Italy’s total fluctuated between fifty and sixty million dollars, and then ended the period a little higher. Austria, on the other hand, grew sharply except for a brief period of stagnation from 1999-2001, and finished at a little over $70 million.

Idioms and Expressions about Money

I don’t typically recommend learning idioms for IELTS . Yes, they are somewhat useful in general English; however, they are quite informal, and so at least for IELTS writing there isn’t much place for them. In the speaking exam, you may be able to use some idioms but they often sound unusual and out of place, so I recommend my students to stick to more conventional language. In some cases they are important to know, and when it comes to money I think there are some good idioms and expressions that you may be able to incorporate into an answer:

• Beg, borrow, and steal – meaning to be desperate for money. Not literally doing these things. Example: I really wanted to get those tickets, and I did. I had to beg, borrow, and steal, but I managed it!
• Make ends meet – to be able to pay your bills and cover basic expenses. “I’m really struggling to make ends meet these days with so many new expenses.
• Money doesn’t grow on trees – it is not easy to get money and it shouldn’t be wasted. Example: Don’t leave the lights on all day. I have to pay the bills, you know, and money doesn’t just grow on trees.
• Made of money – to be very rich. Example: I can’t afford to buy you a new dress. I’m not made of money!
• Money to burn – meaning an excess of money or a willingness to spend money that you have. Example: I can’t wait for the weekend. I’m gonna go shopping because I have money to burn.
• Burning a hole in [your] pocket – to have money and feel a need to spend it. Example: My sister always spends her allowance quickly. It just burns a hole in her pocket.
• Throw money at – to give money carelessly or use money wildly to solve a problem. Example: Once he made his first billion, he just threw money at every problem he faced.

Here’s a video I made featuring 25 money idioms:

About The Author

David S. Wills

David S. Wills is the author of Scientologist! William S. Burroughs and the 'Weird Cult' and the founder/editor of Beatdom literary journal. He lives and works in rural Cambodia and loves to travel. He has worked as an IELTS tutor since 2010, has completed both TEFL and CELTA courses, and has a certificate from Cambridge for Teaching Writing. David has worked in many different countries, and for several years designed a writing course for the University of Worcester. In 2018, he wrote the popular IELTS handbook, Grammar for IELTS Writing and he has since written two other books about IELTS. His other IELTS website is called IELTS Teaching.

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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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• There have been many technological developments in the 20th century. For example in transport, telecommunications and health. What technological development do you think has been the most important? How has it changed people’s live? Have all the changes been positive? The 20th century has been the century of inventions and developments in technology in many fields such as transport, educations, telecom, health, etc. The Internet has changed humans’ lives to the next level that we previously thought it is impossible. The computer has transformed into a world where ...
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• The first chart below shows the number of British visitors to the US and American visitors to the UK from 2011 to 2015. The second chart shows the amount spent by those visitors in that period. The first bar chart illustrates the number of UK tourists to the US and US tourists to the UK over the period 2011 until 2015; and the second one gives information about tourists’ spending in two countries at the same time. From the graph it is clear that the number of British visitors to America w ...
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IELTS Essay # Is saving more important than spending ?

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 You should spend about 40 minutes on this task. Write at least 250 words.

Sample Answer

With the world in such economic chaos, many of us face difficult choices in managing our money. Personally, I prefer savings to high spending and I will give my reasons in the following paragraphs. Firstly, saving money is a sensible precaution in a world where the future is uncertain. It is possible that a person might meet unemployment, serious health issues or other financial crises at some point in life. Therefore, it is essential to have some money put aside for these situations. Certainly, saving is the only way most people can achieve this. Furthermore, I believe that saving is itself a useful discipline for one to develop, as it builds the skills of planning and reaching targets. We can see that in this way disciplined people build up quite large sums through small monthly contributions. In many cases this money meets important objectives in their lives, including large purchases such as cars or property. Finally, when there is an imbalance between savings and spending of the people, the whole world is indirectly affected. The economic downturn of 2008 was a result of this negligence. The crisis was caused by over spending and not enough savings. Individuals, Multi National corporations and even governments too are to be blamed for this financial turmoil. I feel that an emphasis on sensible saving should be a universal strategy to avoid the recurrence of such events in the near future. I do appreciate the fact that some people think differently, saying that it is better to live for the moment and spend accordingly. While some daily spending is essential, of course, I feel this is a potentially unwise viewpoint, especially considering recent global events. To conclude, I believe that saving is the wiser choice, not just for financial but also for personal and political reasons. Sensible saving is an invaluable skill and a help against uncertainty.(311)

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Cue Card Sample

Ielts cue card sample 522 - describe a method that helps you to save money, describe a method that helps you to save money., you should say:.

• how long have you been following it
• whether it is a common method to save money

More Ideas to talk about this Cue Card/ Candidate Task Card topic:

Topic: describe a method that helps you to save money..

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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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IELTS Vocabulary – Money and Finance

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In order to achieve a high score on the IELTS examination, a wide range of vocabulary is essential. You do not have to use complicated words, but being able to use more specific professional terms accurately when discussing finance and money will stand you in good stead when it comes to the IELTS speaking and writing sections. The money and finance vocabulary has been split into different sections and there are some exercises for you to practice using the words in context.

Table of Contents

• Vocabulary for Giving, Receiving and Using Money
• Activity 1 – Financial Vocabulary Exercise
• General Vocabulary for Money and Finance
• Activity 2 – General Vocabulary Exercise
• Money and Finance Collocations
• Activity 3 – Financial Collocations Vocabulary Exercise

1. Vocabulary for Giving, Receiving and Using Money

• Bill – An amount of money owed for goods or services. For example, a hotel bill or a gas bill
• Expenditure – The action of spending money
• Expense – The cost required for something
• Fee – A payment made for something. Usually services rather than products. For example, legal fees, and hospital fees.
• Income – Money received either from work or investments
• Making a payment – The process of paying for something
• Mortgage – A legal agreement where a creditor lends money to help people buy property. The money is paid back in instalments and with interest.
• Passive income – Money received from investments. Typical work is not required for passive income
• Make a profit – The financial gain remaining after the cost of producing or selling something is subtracted from income/revenue
• Make a loss – When the cost of producing/selling something is more than the cost received for selling it
• Revenue – The money/income received by a business or company for the sale of goods or provision or a service
• Salary – A regular payment made from an employer to an employee
• To allocate / allocation – To assign or distribute money for a specific purpose
• To borrow – To take money from a person or company with the intention of paying it back later.
• To earn – To engage in a work-related activity that leads to obtaining money.
• To invest – Spend money with the expectation of making a profit. For example, investing in the stock market
• To lend – To give someone money on the condition it will be returned
• To pay back – To repay a loan
• To pay off – To pay a debt
• To spend – To pay money for goods or services
• To save up / set aside – To accumulate money over time to be used for a specific purpose
• To waste – To use money carelessly, inefficiently, or extravagantly
• To withdraw – To remove money from a bank account
• Wages – A regular payment from an employer to an employee

2. Financial Vocabulary Activity 1

3. general vocabulary for money and finance.

• Afford – Have enough money to pay for something
• Bargain – Something that costs less than its normal market value
• Broke/ Penniless – To have little or no money
• Cost of living – The amount of money it costs to pay life’s expenditures. For example, food, rent, transport etc…
• Credit – The ability to obtain goods or services without paying for them immediately.
• Deflation – A general reduction in prices within the economy
• Discount – A reduction from the usual cost of something
• Extravagant – lacking restraint in spending money or something that costs too much money
• Frugal – To use money in a simple, economical, or efficient way
• Funds/ Funding – The amount of money available for a specific purpose
• Inflation – A general increase in prices and drop in the purchasing power of money
• Overpriced – Something being sold for more than it should cost
• Poor – Lacking the money to live comfortably
• Priceless – Something that is so special or unique it is difficult to assign a price
• Refund – Money returned for returned goods or unsatisfactory service
• Tight/Stingy – To dislike spending money, especially on other people
• Wealth distribution – How money is spread between the different parts of society
• Wealthy – Having plenty of resources or money
• Worthless – Having no real value or use

4. Money and Financial Vocabulary Activity 2

5. financial/money collocations.

Collocations – Here are some important collocations that will help you discuss money and finance on the IELTS writing and speaking sections.

• Buy in bulk – To buy something in a large quantity in order to get a discount
• Cash injection – An investment into a business, usually made in cash
• Clear a debt – Finish paying off a debt
• Financial aid – Money borrowed often to pay for school/university / Money sent by one country to another country
• Financially dependent – To rely on someone else for money/survival
• Financially independent – To not rely on anyone else money/survival
• Government funding – Money from the government for a specific purpose. For example, government funding for sports facilities
• Increase/Decrease funding – Raise or lower the amount of money available
• Manage one’s finances – How a person controls their money
• Private funding – Money that comes from individuals rather than banks or financial institutions
• Put down a deposit – Make an initial payment to secure the future purchase of something
• Run up a debt – To accumulate debt
• Tight budget/Shoestring budget – A small amount of money to use for a specific purpose
• To increase/boost funding – To make more money available for something
• To reduce/cut funding – To make less money available for something

6. Collocations Vocabulary Activity 3

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Money – IELTS Speaking Part 1, 2 & 3 Sample Answers

Updated On Nov 23, 2023

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Money is a topic that sparks different opinions and debates among various people. Yet, everyone is aware that money is important in today’s world. So, given below are different Part 1 & 3 questions and a Part 2 cue card with sample answer along with related vocabulary for you to achieve good scores by regular practice on similar topics.

Speaking Part 1

1 how much money is enough.

Well, it’s hard to answer this question as there is no exact measurement to say whether money is enough or not. It’s up to the perspectives and goals of different people. Some people want to earn more money so they can save up but some just need a certain amount of money to sustain their lives.

2 Why do people care too much about money?

I think the reason is simply that money equals power. The more money you have, the more things you can do, the more influence you have over people. No one refuses power so that’s why they give priority to money. Also, people just want to keep up with the Joneses.

3 Is money important to you?

Absolutely. I can buy things with money and give presents for my family on my own money. It makes my life more meaningful. It’s motivation to push me forward and make me work harder to enhance my life. For me, money is just never enough and if I’m satisfied with what I earn, I’ll fall behind with my fellows.

4 What do people in your country save money for?

I suppose it’s up to different purposes. While the young save money for travelling or paying tuition fees, the elderly tend to keep the money for health service and their kids. However, young people have more desire than the seniors so they often spend more than their savings.

Speaking Part 2

Describe a method to save money.

You should say :

• What the method is
• When you started to use it
• How you knew it
• and explain why it is helpful

Sample Answer

Well, I’m not good at saving money, and I tend to buy things without considering carefully. It’s hard to save if you don’t know exactly what you are saving for so what I do is to set savings goals to motivate myself in every financial decision that I make. Going to Japan has always been my biggest dream, but I’ve postponed it so many times due to lack of money. I tried to keep money myself but I still overspent and was out of money at the end of every month. I asked my mom to keep the money for me as she is better at controlling expenses. She is like my accountant and helps me to balance the expense. She also gives me advice whenever I go shopping to make sure it doesn’t set me back. We have an agreement that whenever I withdraw a sum of money, I have to save double that amount. This works wonders with me as my savings go up every month. Now I always ask myself whether it’s necessary to buy things or I can save for a rainy day. After a while, I realize I’ve set aside more money every day. I buy things within my budget and don’t waste money for unnecessary things. This method of saving money makes me feel financially secure and good about myself.

Vocabulary For Cue Card

• Overspend: spend more than the expected or allotted amount Eg: She has overspent on luxury items. 
• Set someone back: (of a purchase) cost someone a particular amount of money. Eg: The renovation of the building will set the owners back by about 2 lakhs. 
• Withdraw:   to take money from a bank account .   Eg: The old man went to the bank to withdraw the money. 
• Works wonders with : to have a very good effect on someone or something Eg: The Apple cider vinegar did wonders to my skin 
• Save for a rainy day : to reserve something, especially money, for use in a time or period of unforeseen difficulty, trouble, or need Eg: John had saved some money for a rainy day   
• Set aside : to keep or save something from a larger amount or supply in order to use it later for a particular purpose   Eg: They’ve set aside a small area for the construction of a pool. 
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Speaking Part 3

People vs money, 1 what do you think about money.

Money can do many things, both good and bad. It allows us to have freedom and a wide variety of choices. Money gives us confidence and desire to work harder so we can have a better life. You can decide where and how you want to live when you have a good income. When you do not have much money, your choices are limited. However, everything comes with a price. Having much money doesn’t mean people won’t run into problems. Most people fail to strike a balance between earning money and enjoying it, so they work day and night. They believe they’ll be happier if they have lots of money. However, for most people, such time never comes and they die unhappy and dissatisfied

2 Can human beings live without money?

It’s true that money isn’t the most important thing in this world but it’s irreplaceable in our lives. If the world were a completely free place with no expenses and people could own anything they want without money, they would no longer go to work. There would be nothing as motivation and people would work unproductively. Money stimulates people to overcome obstacles so they can enjoy their achievements to the fullest. Besides, people who have money have their own voice in society and it’s a strong encouragement for anyone

3 In your opinion, why do many people derive pleasure from spending money?

Spending money is definitely the most satisfying feeling ever. People can buy things they’ve long waited for to please themselves. Buying something new will make their day and stimulate them to work harder. The money spent isn’t necessarily on oneself but also loved ones. It makes us feel good so we will spend more money the next time.

4 Who do you think saves more money, men or women?

Well, it’s hard to say. Men’s biggest risk is their egos. They need to brag about their possessions and how much money they’ve earned, so they end up spending more money. Women tend to save money and spend it when they really need it. However, there are still exceptions when women manage money worse than men. That’s why there is no strong proof to show men or women save more money.

5 Which do you think is better for the economy of a country or area, people saving money or people spending money?

It’s such a tricky question. I guess for any economy, saving is entwined with spending. When people buy things, they will contribute a sum of money to the stores so they can pay salaries. The government also benefit from that as it’ll gain tax. If people save money, only the banks have an advantage so they can invest or set up new businesses. An ideal economy is when saving and spending balanced. It’s a rule for any economy in the world

6 Do you think the government should let people know how it spends money?

Well, actually, I don’t really care about this issue. I think the government has its own reason to not publicize everything. It can be state secrets so the authority wants to keep it private. However, If the government could go public with the amount of money it spends, it would gain trust from the public and assure them that their money is invested properly.

Young People vs Money

1 how can (or, how do) young people learn to manage their financial affairs.

From my point of view, young people should learn from their parents who have lots of experience with spending money. They will give the youngsters sound advice to keep an eye on personal expenses. The young should plan short terms and long term  financial goals and review them from time to time to manage personal finance well. They need to make sure their budgets cover their savings as well in case of any unforeseen emergency

2 Do you think it’s easy for (young) people to save money?

I think it’s all about motivation. When people have specific goals, they’ll find saving money easier. For instance, lots of youngsters are working their way through university by doing some part-time jobs. They don’t feel like depending on their parents and wanting to have less burden on the family. They can save a small sum of money every month. Once young people keep that habit, they can have considerable savings for their future

3 Do young people nowadays believe in saving money?

Well, I don’t really know. It depends on their outlook, I guess. Saving money up is a good idea in case undesirable problems happen. Developing the discipline to do it over a long period of time is what most people find difficult to do. That’s why not many young people keep track with their monthly expense.

Kids and Money

1 do you think parents should give pocket money to the kids.

I do agree with that. Giving pocket money to children helps them start learning about money management. When children get pocket money, they have to make choices about spending or saving it. If they save up, they have to learn about waiting for things they want. Otherwise, kids who choose to spend are likely to use up all the money. After a few months, they’ll know how to spend within their budget. Paying the children to do chores also makes them more hard-working. Money doesn’t grow on trees so giving pocket money will teach the kids to appreciate it.

2 Do parents in your country think it’s important for their children to save money?

Yes, they do. They always encourage the kids to live within their means. They believe if the children save money, they will be more appreciate and use it wisely. When they set aside money, they will prepare better for the future. They may think saving isn’t necessary now since they are still young and lack of experience. Once they grow up, they ‘ll understand that it makes good sense.

Vocabulary For Speaking Part 3

• Dissatisfied: not content or happy with something. Eg: As she was dissatisfied with results, she applied for revaluation. 
• Irreplaceable: too special, unusual, or valuable to replace with something or someone else Eg: Mother’s love is irreplaceable. 
• Brag: say something in a boastful manner. Eg: The old man always brags about his wealth. 
• Exceptions: something that is not included, or the action of not including something Eg: There’s an exception to every rule. 
• Entwine: wind or twist together; interweave. Eg: The creepers entwine themselves into the wall. 
• Point of view: a person’s opinion or particular way of thinking about something  Eg: In my point of view, those students must be punished.
• Considerable: notably large in size, amount, or extent. Eg: The accident led to considerable damage to the car. 
• Chores: a routine task, especially a household one. Eg: My mother is an early riser. So she completes all her chores in the morning. 
• Appreciate: recognize the full worth of. Eg: The Principal appreciated the students for their bravery

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Nafia Zuhana is an experienced content writer and IELTS Trainer. Currently, she is guiding students who are appearing for IELTS General and Academic exams through ieltsmaterial.com. With an 8.5 score herself, she trains and provides test takers with strategies, tips, and nuances on how to crack the IELTS Exam. She holds a degree in Master of Arts – Creative Writing, Oxford Brookes University, UK. She has worked with The Hindu for over a year as an English language trainer.

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• IELTS SPEAKING PART 1: MONEY [ANSWERS]

Why do people save money?  

(Answer 1)  

Obviously, so they have something to use when there’s an emergency. It’ll be very stressful when one has to admit to a hospital but he has neither health insurance nor emergency funds. Therefore, saving money is incredibly important because we never know what’s going to happen to us or anyone in the family. Everyone must learn the importance of saving money.   

(Answer 2)  

We all should save money because life is always unpredictable. Emergencies that need a huge amount of money may occur when we least expect it (it comes as a surprise) . I think the COVID-19 pandemic taught people the importance of having emergency funds because those were the times when a lot of people got laid off (dismissed; let go) from work. So many people struggled to live day by day during those times.     

How can you save money?  

As for me, I do side hustles (jobs that you get paid for in addition to your main job) to save money because the money that I make from my main job is enough for my monthly expenses. I earn a decent (fair) amount from my two part-time jobs and I keep them and a portion of it is invested. Life is hard because I have three jobs but I always remind myself that it is harder if one has no savings.   

To be honest with you, it’s never easy to save money these days because everything is so expensive. I have been trying so hard to save money by eating twice a day instead of three times a day and canceling some entertainment subscriptions. Although I’ve been saving money, still it’s not much. But what can I do? The effects of inflation (the rate of increase in prices) are greatly felt by a lot of poor people like me.      

Do you use a credit card to buy things?  

Yes, I do. I prefer using my credit card to buy almost everything because it’s more convenient to use plus I can get some rewards from using it. Not to mention (in addition to) , I can avail some great offers from different companies.   

No, I don’t. I admit that I’m not well-educated about using credit cards so I decided not to get one. I’m scared that because of my illiteracy (ignorance) on credit cards, I might use them wrongly. I don’t want to drown in debt (to owe a lot of money) like some of my friends. That must be scary.       

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

I don’t think so because people these days are reliant (dependent) on cards and digital payments because they’re convenient and safe. I think there’ll be some people who will still pay in cash in the future but for sure the number will not be as many as today.   

If we’re talking about this country, I think it will still be popular because based on my observation, the number of people using credit cards, debit cards, or digital payments is not high. However, in other countries, I think it won’t be popular anymore since the revolution (change) of a cashless society has been ongoing already.    

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IELTS Speaking Part 1 – Money

• IELTS Speaking

• Do you prefer to save money or spend money?
• How do you save money?
• What do you think about payment apps or mobile payments?
• Do you use a credit card to buy things?
• Do you think cash will still be popular in the future?

1. Do you prefer to save money or spend money?

I prefer to prioritize saving money initially, accumulating a certain amount before considering expenditures. After all, what’s the point of money if you don’t spend it? I conscientiously focus on saving when it comes to my salary. While I aim to stick to the saving plan, there are instances when expenditures surpass expectations, leading to tapping into savings. I’m working to ensure that any increased spending aligns with additional projects, allowing me to both save and enjoy what I want.

2. How do you save money?

There are two basic approaches. One is allocating a certain percentage of your income for savings upon receipt, with the remainder dedicated to expenditures. This method typically involves around 25% of your income. However, during challenging times like the pandemic or economic downturns, I’ve had moments where expenditures took precedence, leaving what’s left as savings. This can be demotivating, as it feels like your salary is untouched, yet it’s gone due to bill payments.

3. What do you think about payment apps or mobile payments?

Payment apps offer great convenience, but they also have downsides. The ease of spending without tangible notes can lead to reduced remorse and increased expenditures. Physical money tends to discourage spending, as we can visibly see and feel it. On the other hand, with digital transactions, it’s just a number on the screen. While digital payments are beneficial, improving financial literacy is crucial to maintaining responsible spending habits.

4. Do you use a credit card to buy things?

Growing up, my dad discouraged the concept of credit cards, and I never acquired one due to concerns about potential poor financial decisions. I’ve witnessed instances where individuals become addicted to credit card spending, accumulating debts. Documentaries often highlight this issue – having access to a credit card may lead to excessive buying. To avoid such pitfalls, I’ve chosen not to get a credit card and nip any potential financial challenges in the bud.

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

I recall a tv show where Stallone said, “Cash is king,” and I couldn’t agree more. While it may not be as popular as before, physical wealth is still significant. People tend to consider physical fiat notes important for showcasing wealth. Despite the rise of digital transactions, physical cash will likely remain relevant not only in my lifetime but also in my family’s and my daughter’s lifetime.

Check Placement Test for Speaking

Please visit the website Educatorian to find suggested answers for IELTS speaking questions. Additionally, I recommend checking out Ian’s personal website f or further information. 请访问 Educatorian 网站，找到雅思口语问题的建议答案。此外，我建议查看伊恩的个人网站以了解更多信息。

Ian Tanpiuco – Virtual Assistant, Educatorian, and IELTS Rizz Tutor. Ian’s goal is to enhance his students’ IELTS scores through a comprehensive curriculum that focuses on understanding rather than mere memorization.

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• IELTS Rizz – Vocabulary Day 03
• IELTS Rizz – Vocabulary Day 02