Cue Cards Samples with band 8 answers
Interesting discussion you had about how you spend your money - Cue Card # 584
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IELTS Speaking Part 2: IELTS Cue Card/ Candidate Task Card.
Describe an interesting discussion you had about how you spend your money.
You should say:
- who you had the discussion with
- why you discussed this topic
- what the result of the discussion was
and explain why this discussion was interesting for you.
[You will have to talk about the topic for one to two minutes. You have one minute to think about what you’re going to say. You can make some notes to help you if you wish.]
Model Answer 1:
I don’t normally like to discuss my private matters with anybody unless, of course, I have a very valid reason to do so. But, the other day, I was casually doing exactly that with one of my senior cousins, who made the discussion rather interesting.
Of course, I didn’t exactly want to get drawn into this sort of discussion, but when my cousin asked me about my future plans or how I was spending and managing my money, I thought that there was no harm in discussing the subject. In fact, I decided to have that discussion, mainly because I wasn’t really doing that well financially even though I was earning a reasonably good amount of money from my job. When I told that to my cousin, he told me that earning enough money wasn’t just enough to have a secured financial future unless we were using the money in creating tangible assets.
In fact, he gave me an account of how he successfully turned around his failing business about a few years ago by wisely investing his little savings. So, again, according to him, earning enough money wasn’t just enough as one would also need to find a way to invest it properly with a long-term plan by factoring out future inflation. Anyway, the discussion was not only getting more and more interesting but also getting more complicated. Finally, the discussion ended with a piece of advice from my cousin that we should have never spent more money than we would earn.
Anyway, the discussion was really fascinating for me because it taught me a few effective tricks not only to save money but also to invest it wisely at the right time. Besides, the conversation also taught me how to create and maintain a link with financially successful people who could always teach us a thing or two about how to become a successful entrepreneur even when one doesn’t have any money at all. Finally, the discussion was also interesting because it taught me how to diversify my skills and money-earning abilities.
Sample Answer 2:
I've always wanted to spend my money the way I please, but a recent discussion about spending money has changed my concept. I had a fruitful discussion with Mr Robert, a senior professor at my college in Florida a few months ago. Here, I will tell you about this interesting discussion. And this discussion was about how I spend money and how I should spend money.
I went to see him one morning a few months ago to discuss an assignment that I had recently completed and submitted to him. During this meeting, he told me his opinion on money management. He told me that we should never spend money that we have not earned. Since I was an avid user of credit cards, I disagreed with him. He then took the time and patience to discuss this issue with me in detail. In the discussion, he also talked about a few other aspects of money. For instance, it was clear that he believes that money is important for life but people should have money in the head, not in the heart. Finally, he also opined that our spending habits grow from our family and it is often hard to change that later in life.
This insightful and impactful discussion convinced me to always cut my coat according to my cloth. As a result of this discussion, I realised some of the money management aspects that I was always doing wrong. For instance, I stopped using three credit cards that I had and took a debit card instead. After a few months, I realised that it was helping me tremendously and I was not struggling with my money as much as I did earlier.
The discussion was interesting because it was something that I disagreed with, but also knew that Mr Robert was highly talented and experienced in economics and everything related to money management. It was the first time when I realised that my way of spending money was totally wrong. It was interesting also because I realised that it was an eye-opening and thought-provoking discussion that could affect my money management style and overall financial condition as a student. I must say, this was one of the best discussions I ever had with anyone about money.
Idea generation for this Candidate task card / Cue card topic:
Discussing money and personal spending habits can reveal a lot about people's values and priorities. These conversations often lead to insightful exchanges that provide perspective on financial choices. Below are five ideas based on discussions that people usually have about money:
1. Discussion with a close friend about saving strategies:
During a casual coffee meetup with a close friend, we discussed our saving habits. She shared how she allocates part of her salary to a savings account every month, which led me to think about my own spending. We also talked about the benefits of having an emergency fund, which helped me realize that I could be more disciplined with my savings. This discussion made me consider my financial future more seriously and inspired me to set up a better savings strategy.
2. Chat with a colleague about investing money:
At work, I had a conversation with a colleague who is very into stocks and mutual funds. We discussed various investment options and how to create a diversified portfolio. He explained how he allocates money into different assets to reduce risk, which was enlightening because I had never thought about investing my savings in such a structured way. The result was that I decided to explore investing in mutual funds, and I’ve since started researching the topic more thoroughly.
3. Family discussion on budgeting and family expenses:
In a family gathering, we discussed how we should manage our household finances, particularly how to budget for monthly expenses. My parents and I talked about setting aside money for utilities, groceries, and fun activities. We even created a budget template to track all our expenses. This was a very productive discussion because it not only helped us understand the importance of budgeting but also brought us closer together in managing our finances as a team.
4. Conversation with a mentor on spending habits:
During a mentoring session with my business mentor, we discussed the difference between necessary and discretionary spending. I was surprised to learn that many successful people focus on spending money on things that truly add value to their lives, like health and education. The result of this conversation was that I reconsidered my impulse buying habits and now make more conscious decisions before spending on non-essential items.
5. Discussion with a sibling on prioritizing experiences over material goods:
I had an interesting talk with my older sibling about how we choose to spend money. While I tend to spend on things like gadgets and clothes, my sibling focuses on traveling and experiences. We discussed how spending money on memories, like vacations, can sometimes bring more satisfaction than buying new products. This conversation inspired me to think more about spending money on experiences that create lasting memories, rather than accumulating more material possessions.
Model Answer 3:
I remember having an interesting discussion about how I spend my money with one of my close friends, John. John is an accountant and has always been interested in finance-related topics. We discussed this topic because I wanted to learn more about how to manage my finances effectively. I'd like to say thank you for the chance you have given me here to talk about this interesting discussion.
During the discussion, John shared some valuable insights about budgeting and the importance of saving money for emergencies. He also gave me some practical tips on how to cut down on unnecessary expenses and invest in assets that can appreciate in value over time. We had a very productive conversation and I learned a lot from John's expertise.
As a result of our discussion, I decided to create a monthly budget plan and set aside a portion of my income for savings and investments. I also started tracking my expenses more closely to identify areas where I can cut down on spending. Over time, I have seen significant improvements in my financial situation, and I am grateful to John for sharing his knowledge with me. Within a couple of years of the discussion, I could see that I had a significant amount of savings!
To be honest, I found this discussion to be very interesting because it helped me to become more financially responsible and secure. It was also inspiring to learn from someone who is passionate about finance and has valuable expertise to share. It was perhaps one of the best discussions that I have had in recent years that has affected me rather positively.
Vocabulary for this Candidate task card / Cue card topic:
When discussing personal spending habits, a range of vocabulary related to finance, budgeting, and decision-making comes into play. Here are some key terms that will help you express your ideas more clearly and effectively:
Discretionary spending – Money spent on non-essential items or luxuries.
Essential expenses – Necessary costs, such as rent, groceries, and utilities.
Impulse buying – The act of purchasing something without planning or consideration.
Financial discipline – The ability to manage money effectively and avoid overspending.
Budgeting – The process of planning how to allocate your income for various expenses.
Emergency fund – Money set aside to cover unexpected financial emergencies.
Investment portfolio – A collection of financial assets, such as stocks and bonds, owned by an individual or institution.
Value for money – The idea that the quality or usefulness of a product or service justifies its price.
Frugality – The quality of being economical with resources, especially money.
Cash flow – The total amount of money being transferred into and out of a business or individual’s accounts.
Debt management – The process of handling and reducing personal or business debt.
Financial goals – Objectives set to manage and grow one’s finances, such as saving for a home or retirement.
Part 3 - Details Discussion/ Two-way Discussion:
Discussion topics: Money and young people
Q. Why do some parents give their children money to spend each week?
Q. Do you agree that schools should teach children how to manage money?
Q. Do you think it is a good idea for students to earn money while studying?
Discussion topics: Money and society
Q. Do you think it is true that in today’s society, money cannot buy happiness?
Q. What disadvantages are there in a society where the gap between rich and poor is very large?
Q. Do you think richer countries have a responsibility to help poorer countries?
The answer to these part-3 questions - Speaking sample 73- Speaking Part 3
Similar other cue card topics that you should be able to answer with your preparation for this cue card topic:
1. Describe an interesting conversation with someone you did not know before.
2. Describe an interesting discussion you had with one of your friends.
3. Describe something you learnt from a conversation you had with someone.
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