IELTS Speaking Part 3: Money, Saving and Spending

We've been talking about something you saved up for.

Now I'd like to ask you some broader questions.

Of course, I'm ready.

Do young people today find it harder to save money?

In many ways, yes, and it's not entirely their fault.

Rents have soared, while starting salaries have barely moved!

On top of that, spending has never been so effortless.

One tap on your phone, and the money's gone.

So is your phone the real enemy here?

Ha, my bank statement would certainly say so!

To be fair, phones can also help us budget.

My app rounds up every purchase and saves the change.

Should schools teach children how to manage money?

Absolutely! I'd say it's long overdue.

Most of us leave school knowing algebra,

but not how interest on a loan works.

I learned about credit card interest the hard way.

A single practical course could prevent years of debt.

Do people today buy more than they really need?

Without a doubt, and advertising plays a huge part.

Fast fashion is so cheap that we treat clothes as disposable.

Some items are worn once, then simply thrown away!

Is that changing at all, in your experience?

Yes, and it's really encouraging!

Second-hand shopping is booming among people my age.

That said, it's partly about saving money, not the planet.

Finally, can money really make people happy?

Up to a point, certainly, because it buys security.

But beyond that, experiences matter far more than possessions.

Thank you. That's the end of the speaking test.

Oh, already? That went so quickly!

Thank you very much. Goodbye!