Money is always a hot topic in both everyday life and the IELTS Speaking test. However, relying on overly simplistic phrases like “I like money because I can buy everything” will make your answers lack depth and intellectual maturity.
To conquer Band 8.0+, you need to equip yourself with vocabulary that demonstrates financial literacy (financially savvy), spending habits (cost-conscious), and multidimensional perspectives on wealth. Join Ms. Can Thu Ha as we explore the complete set of vocabulary and sample answers for this topic!
Useful Vocabulary and Structures for the Money Topic
To easily incorporate these into your answers, we have categorized the vocabulary into three core themes:
Income & Spending Vocabulary
| Collocations | Meaning |
| Make ends meet | To earn just enough money to cover living expenses |
| Live from paycheck to paycheck | To live solely on one’s monthly salary with no savings |
| Disposable income | Income remaining after deduction of taxes and mandatory expenses |
| Splurge on sth | To spend money freely or extravagantly on something |
| Cut back on spending | To reduce expenditure |
| Tight budget | Limited financial resources |
| Financial cushion | A reserve of money for emergencies |
| Financially independent | Not needing financial support from others |
Saving & Investing Vocabulary
| Collocations | Meaning |
| Set money aside | To save money for a specific purpose |
| Build up savings | To gradually accumulate savings |
| Invest in | To put money into something for future profit |
| Long-term financial security | Stable financial status over a long period |
| Diversify investments | To spread investments across different assets |
| Emergency fund | Money set aside for unexpected expenses |
Attitudes Towards Money
| Collocations | Meaning |
| Money isn’t everything | Money is not the most important thing in life |
| Materialistic mindset | A focus on material possessions over other values |
| Place too much emphasis on wealth | To prioritize money excessively |
| Measure success in monetary terms | To define success by how much money one has |
| Financially savvy | Knowledgeable and wise about financial matters |
| Cost-conscious | Careful and prudent with spending |
IELTS Speaking Part 1 Sample: Money
In Part 1, aim to portray yourself as someone who is responsible with their personal finances.
Q1: Do you think money is important?
“I’d say money is important to a certain extent. It provides financial security and allows people to meet their basic needs. However, I don’t think it should be the sole measure of success, because happiness and personal fulfilment matter just as much.”
Q2: Are you good at saving money?
“Yes, I’d say I’m fairly cost-conscious. I usually set money aside every month and try to avoid impulse purchases. That said, I occasionally splurge on experiences like travelling.”
IELTS Speaking Part 2 Sample: Saving Money
Topic:
Describe a time when you saved money for something special.
You should say:
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What you saved money for
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How long you saved
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How you managed to save
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And explain how you felt when you finally bought it.
Sample Answer (Band 8.0):
A memorable time when I saved money for something special was when I decided to fund a solo trip to Da Nang as a reward for finishing my university thesis.
At that time, I didn’t have much disposable income, so I had to carefully plan my spending. I set a specific savings goal and started to cut back on unnecessary expenses, such as eating out and online shopping. I also took on some freelance work to build up my savings more quickly.
It took me about four months to reach my target. Although it required a lot of discipline, the process taught me how to be more financially responsible. When I finally booked the trip, I felt incredibly proud of myself. It wasn’t just about the holiday itself, but about achieving a personal goal through patience and planning. In hindsight, the experience was far more rewarding because I had worked hard for it.
IELTS Speaking Part 3 Sample: Money & Society
This is the section where you can showcase your sociological insight and use more academic vocabulary.
Q1: Why do some people think money equals success?
“In many societies, wealth is closely associated with social status. People often measure success in monetary terms because financial prosperity is visible and easily quantifiable. However, this view can be somewhat narrow-minded, since success also includes personal growth and meaningful relationships.”
Q2: Should children learn about money at school?
“Definitely. Financial literacy is an essential life skill. If children learn how to manage a budget and understand basic financial concepts, they are more likely to become financially responsible adults.”
Q3: Is it better to save or spend money?
“It really depends. Saving provides long-term security and peace of mind, while spending can improve one’s quality of life and even stimulate the economy. Ideally, people should strike a balance between the two.”
The secret to achieving a high score on the Money topic is maturity in your expression. Instead of just talking about liking to earn or spend money, incorporate practical concepts like managing a budget, disposable income, or long-term security.
Transform your answers into the reflections of a financially savvy individual. Don’t forget to practice using these terms daily to build natural reflexes for the exam room. Good luck with your studies and achieving your IELTS goals with ECE!
Khai giảng Khóa học Hè cực HOT.
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