The Amount Of Money That You Would Need To Invest Today To Yield A Given Future Amount Is Called Th
CONTENTS
Sample answers
Sample questions and answers from speaking part 1, 2 and 3
Key vocabulary
Words and terms frequently used when talking about money
Word formation
Learn how to use wide variety of parts of speech, such as nouns, verbs, adjectives
Collocations
Find out groups of words that usually used together by native speakers
Useful resources
References to teaching and authentic materials related to this topic: IELTS blogs, podcasts, videos and articles
Downloads
Download this article in PDF. Download ANKI flashcards and take advantage of spaced repetition method
Money: Sample questions and answers for IELTS speaking exam
Part 1
- Do you like shopping?
– No, I don't. I am not a hoarder and only prefer to buy high-quality things that I know I definitely need. And this, of course, happens not that often.
- Have you bought anything interesting recently?
-Yes, I did. I desperately needed new sneakers and found a beaufitul pair of white ones.
- How important is money to you?
-I consider money just a tool to achieve goals. Without it, it would be quite hard to get anything significant in life when it comes to tangible things that can be bought.
- Do you think you will have lots of money in future?
-Yes, definitely. I am working hard right now to get a nice well-paid job. In the future, I will for sure be able to maintain a good lifestyle.
5. Would you like to become rich some day?
– Of course, I do. But this is not an end goal for me. I need money to serve the humanity better, because I want to build a chain of waste recycling plants in the future.
6. Do you think it is ok to lend money to friends or family members?
-I do not support those who rely on borrowing. However, sometimes it is okay to lend money as long as it serves a good cause.
7. Are you good at saving money?
-Yes, I consider myself very conscious when it comes to my spending habits.
8. Do you invest your spare money?
-Unfortunately, not yet, however, I have been thinking about investing it for quite some time. The thing is – I can't find enough time to properly break this down for myself.
9. Do you think financial literacy is at the high level aross generations?
-In my opinion, young people generally think less about money management than adults. I expect this to change because of better education at schools and universities.
Part 2
Describe something you want to buy but can't afford. You should say:
- What you would like to buy
- How much it costs
- Why you can't afford it
- and explain if there is any other way you could acquire it.
I would like to buy myself a car. This will be my first vehicle, because I have just got my driver's licence. I like travelling with comfort to work and around the city, but the heavy traffic during rush hours makes public transportation really inconvenient for me. However, I am very conscious about the environment and wouldn't like to spend money on a conventional automobile that will only contaminate the air we breath. Therefore, the perfect car for me would be an electric one – ideally, a Tesla.
Teslas cost substancially more than usual petrol cars. Their price fluctuates around 80,000 – 100,000 USD. What I especially love about it is that it's possible to design my own one – some parts of it can be customized.
Unfortunately, I can't afford this car right now – I have just graduated and entered the job market with not the highest ever salary. Also, I haven't taken up a single loan, and I am of a strong belief that credit must finance only investments that generate future returns. And such a consumeristic purchase as a car definitely won't earn me any money. In fact, I will only spend even more on planned maintenance. Thankfully, Tesla is not a vehicle that needs petrol, so I will majorly save on gasoline. Thus, I will wait for a couple of years, until my pay improves. I will also have a better range of car models to choose from.
Part 3
- How much money is enough?
The question of a sufficient amount of money is absolutely subjective – everyone has their own pay-rate expectations (idea). This highly depends on the lifestyle one leads – on the quality of life one is accustomed to. In my opinion, one can surely say they have enough money when they are able to afford spontaneous purchases thoughout the month without worrying about their next month financial stability (explain). There are many modern online banking apps that allow to track monthly spendings and plan future budgets – they are a great helping hand indeed (example).
- What problems does money cause in your society?
Money is the tool that solves many problems – from very small daily ones to huge infrastructural issues (idea). However, there are certain people whose individuality and character force them to make poor decisions when given too much money or power (explain). One of the most evident examples is politicians who are frequently corrupted, which makes them incompetent and inefficient public servants. Globalisation only exacerbates the gap between haves and have-nots. Many people lack money to sustain day-to-day living, while the rich become richer every day(example).
- Do young people nowadays believe in saving money? What conflicts can arise between a person's family and a person's friends?
The willingness and ability to save greatly depends on a person's character (idea). Since many young people are still not mature enough and prone to sudden mood swings, it is easier for them to fall prey to compelling ads, ending up with a bag of spontaneous purchases. In addition, many companies offer easy payment terms, so youngsters get tempted to spend more on things they do not really need (explain). A great example would be the rapid advancement in technologies that give access to instant credit from the biggest and most reliable banks (example).
Key vocabulary: Definitions and examples
charge
a price asked for goods or services
You no longer need to worry for future charges from Audible and your membership was completely cancelled now.
loan
an amount of money borrowed from a bank
If you're looking for a loan, approach our local banks.
credit
money available for a client to borrow.
Redland Bank will not normally give credit to applicants under 18 years of age .
wealth
a large amount of valuable things or money
Wealth is not the same thing as money.
savings
the money that you have saved
I don't have a strong view as to how you should diversify your savings.
to earn
to get money for the work that you do
Indeed up until recently the average English farmer earned £ 77 per week.
profit
a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something
Typically the higher the profit margin, the more the value.
finances
the money that an organization or person has
He refused to answer questions about his personal finances.
cost
an amount that has to be paid or spent to buy or obtain something.
Since 2004 the building has been boarded up so that the cost of refurbishing it hasincreased hugely.
discount
A reduction of the selling price of something or of the total cost of an invoice
I frequently ask for discounts.
refund
a repayment of a sum of money, typically to a dissatisfied customer
I have issued a refund in the amount of $14.95 back to your credit card.
budget
the amount of money a person or company has for something or a plan describing expenditure
Robert Rodriguez first film, El Mariachi, was famously produced for abudget of $7,000
offer
an amount of money that someone is ready to pay for something
The creditors declined theoffer, preferring to realize the estate themselves.
deposit
a sum of money that you pay immediately to prove that you will buy something
Nodeposit is necessary and no payments need be made during the first year of the agreement .
Word Formation
WORD
PART OF SPEECH
EXAMPLE
charge
noun
Price for delivery is included in the charge for each sandwich
to charge
verb
You can charge any rent you agree with the tenant
free of charge
phrase
What's the best free-of-charge software for making an org chart?
pay
noun
Their average basic pay is approximately 300 pounds per month.
to pay
verb
People do pay for quality.
well-paid
adjective
Are astronauts well paid?
investments
noun
My firm, GMD Partners, has 25% of our total investments in the financial services sector
to invest
verb
When you can't keep savings in the form of money, you invest them in something that will produce value in the future.
wealth
noun
Walth is not the same thing as money.
wealthy
verb
Not all Chinese Indonesians are wealthy, only a fraction of them are.
to earn
verb
Indeed up until recently the average English farmerearned £ 77 per week.
earnings
noun
House prices are rising faster than earnings.
save money
verb
Indeed up until recently the average English farmerearned £ 77 per week.
savings
noun
The majority of older people in Bulgaria are economically inactive, so they are dependent for economic survival on either family or on their ownsavings or pensions.
money saving
phrase
Not having a car is a huge money saving tip
profit
noun
Typically the higher the profit margin, the more the value.
to profit
verb
An exposure wouldprofit me indirectly to a considerable extent.
profitable
adjective
Udemy is a profitable business model
finances
noun
He refused to answer questions about his personal finances
finansial
verb
If you are looking for financial advice , start off by talking to close friends or family members.
cost
noun
Since 2004 the building has been boarded up so that the cost of refurbishing it hasincreased hugely.
to cost
verb
A home computer will cost you anywhere between $500 – $1000
cost-effective
adjective +
The most cost effective way to ship books is actually by using a Print on Demand (POD) printer
it will cost you nothing
phrase
It will cost you nothing but it may bring positivity to someone else
budget
noun
El Mariachi, was famously produced for a budge t of $7,000.
to budget
verb
Do You need advice on dealing with debt and how to budget ?
offer
noun
The creditors declined theoffer , preferring to realize the estate themselves.
to offer
verb
We can offer help and advice in the search for other posts
Collocations
reasonable
small
fixed
standard
total
annual
daily,
adjective +
charge
adjective +preposition+
charge
be willing to
look to
plan to
seek to
verb+
invest
big
good
greater
high
huge
record
substantial
low
modest
small
adjective+
profit
bring (in)
earn
generate
make
realize
reap
verb+
profit
big
easy
government
public
taxpayers'
adjective+
money
/*end of template */
get out, take out
withdraw
lose
run out of
spend
waste
invest
verb+
money
/*end of template */
tuition
membership
school
entry
entrance
admission
cancellation
booking
+fee
fee
high
low
additional
extra
estimated
real
annual
monthly
fixed
adjective+
cost
bear
cover
meet
pay
increase
push up
bring down
cut
lower
reduce
keep down
estimate
calculate
verb+
cost
an increase in cost
a reduction in cost
at no extra cost
cost of living
at a cost of $10
phrase
cost
acceptable
attractive
fair
favourable
reasonable
tempting
adjective+
offer
acceptable
attractive
fair
favourable
reasonable
tempting
adjective+
offer
high
steep
low
bargain
attractive
fair
reasonable
right
adjective+
price
good
average
asking
purchase
retail
sale
selling
market
adjective+
price
consumer
commodity
food
house
land
property
share
electricity
energy
fuel
oil
adjective+
price
go for
quote sb
charge
increase,
raise
cut
lower
verb+
price
increase in
rise in
a drop in price
a fall in price
a reduction in price
pay a heavy price (for something)
phrase
price
go up
rise
skyrocket
drop
fall
go down
price+verb
price
go from … to …
range from … to …
start at
price+verb
price
above-average
high
large
sufficient
average
adjective+
income
future
permanent
secure
regular
steady
annual
monthly
weekly
national
per capita
adjective+
income
family
household
gross
net
adjective+
income
have
receive
arn
generate,
boost
increase
verb+
income
monthly
weekly
high
low
poor
full
noun +
pay
holiday
maternity
overtime
sick
noun +
pay
cheque
packet
slip
increase
rise
cut
pay+noun
pay
negotiations
agreement
award
deal
offer
pay+noun
pay
a cut in pay
an increase in pay
a reduction in pay
noun+ in pay
pay
Useful resources
This topic on IELTS blogs
- ELTS Speaking Practice: Money [ielts-academic.com]
- IELTS Cue Card Sample: Describe something special that you saved money to buy [ielts-mentor.com]
Podcasts
- The money paradox [npr.org]
- Paul Piff: Does money make you mean? [npr.org]
Articles
- What is the best way to make money? [quora.com]
- What is the bihhest surprise about getting rich? [quora.com]
Videos
- Saving for tomorrow [TED TALKS]
- How to buy happiness [TED TALKS]
Downloads
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The Amount Of Money That You Would Need To Invest Today To Yield A Given Future Amount Is Called Th
Source: https://thetesttaker.com/portfolio/p-item-money/
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