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IELTS Free Online Writing Practice - Should schools teach financial literacy?

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IELTS Writing Task 2 Topic: "Should schools teach financial literacy?"

Model Answer:
Financial literacy is an essential skill for individuals to navigate the complex world of personal finance. In recent years, there has been a growing debate regarding whether schools should incorporate financial literacy into their curricula. Some argue that it is crucial for students to learn financial management skills from a young age, while others believe this responsibility lies with parents and families. This essay will discuss both perspectives and conclude that schools should indeed teach financial literacy as part of their core curriculum.

Firstly, incorporating financial literacy into the school curriculum has several advantages. For one, it equips students with knowledge and skills necessary to make informed decisions about money matters. This includes understanding basic concepts such as budgeting, saving, investing, and borrowing responsibly. By learning these skills at an early age, students can develop healthy financial habits that will serve them well in later life. Additionally, financial literacy education has been shown to improve students' overall academic performance, as it fosters critical thinking and problem-solving abilities.

Secondly, teaching financial literacy in schools allows for greater social equity. Many families lack the resources or time to teach their children about personal finance effectively. As a result, these children may enter adulthood unprepared to manage money, leading to financial hardship and increased reliance on public assistance. By ensuring that all students receive financial education, schools can help to close this gap and promote social mobility.

In contrast, some argue that the responsibility of teaching financial literacy should fall on parents and families. It is undeniable that families play a significant role in shaping their children's financial behaviors. However, relying solely on parental guidance overlooks the fact that not all students have access to adequate financial education at home. Moreover, parents may lack the expertise required to teach complex financial topics effectively.

In conclusion, it is clear that schools should teach financial literacy as part of their core curriculum. By doing so, they can equip students with essential life skills and promote social equity. While parental involvement in a child's financial education is important, it is not always sufficient to ensure all students receive the knowledge and skills needed for financial success.

Band Score: 9.0 (The model answer demonstrates a clear understanding of the question, presents well-structured arguments, uses appropriate language and vocabulary, and maintains a formal tone throughout.)

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