IELTS Speaking
money
Practice questions
- 1.How do people's spending habits change as they get older?
- 2.What are the advantages and disadvantages of using mobile payment apps?
- 3.Do you think it's important to teach children about saving money? Why or why not?
- 4.Some people believe that money can buy happiness. What is your opinion?
- 5.How has the rise of online shopping changed the way people manage their finances?
Model answer
People's spending habits tend to evolve significantly as they age. In their youth, individuals often prioritize immediate gratification, spending on entertainment, fashion, and social activities. As they enter their late twenties and thirties, responsibilities such as renting or buying a home, starting a family, or pursuing further education shift their focus toward saving for long-term goals. Consequently, budgeting becomes more deliberate, and expenditure on essentials like housing, healthcare, and children's education increases. In middle age, many become more risk-averse, channeling funds into retirement accounts and investments, while also splurging occasionally on travel or hobbies that they deferred earlier. Finally, in retirement, spending patterns often become more conservative, with a heavy emphasis on healthcare and maintaining a comfortable lifestyle within a fixed income. Overall, the transition from impulsive to strategic spending reflects a response to evolving life priorities.
Target vocabulary
immediate gratification
The desire to experience pleasure or fulfillment without delay.
risk-averse
Unwilling to take risks, especially in financial decisions.
budgeting
The process of creating a plan to spend and save money.
retirement accounts
Financial accounts that help individuals save for retirement, e.g., 401(k) or IRA.
fixed income
A regular, stable amount of income, often from a pension or social security.
impulsive
Acting without forethought, often leading to unplanned purchases.
deferred
Postponed or delayed to a later time.