IELTS Speaking Part 3: Spending and saving money
6 Part 3 discussion questions on spending and saving money, with developed sample answers of the kind Part 3 expects.
What do young people spend money on?
In my country, young people’s spending is heavily skewed towards experiences and digital goods, rather than physical possessions. A large portion goes to dining out, coffee shops, concerts, and travel – things that can be photographed and shared on social media. Subscription services like streaming platforms, gym memberships, and cloud storage are also common recurring expenses. Technology is another major category: the latest smartphone, wireless earbuds, or a gaming console often takes priority over saving. Interestingly, many young people also spend significantly on self-care and wellness – skincare products, yoga classes, or therapy apps. Of course, rent and basic necessities consume a big chunk for those living independently, but discretionary spending tends to prioritise social visibility and instant gratification over long-term investments.
Is it good and necessary to teach children to save money?
Yes, it is both good and necessary, but the way it is taught matters enormously. Teaching children to save instills delayed gratification, a skill that predicts better life outcomes across health, wealth, and happiness. It also gives them a sense of agency – knowing they can set a goal (a toy, a game) and work toward it over weeks or months builds confidence. However, a purely “save everything” message can backfire, making children anxious about spending or guilty when they do. The better approach is to teach budgeting: allocate some money for saving, some for spending, and perhaps some for sharing (charity). Let children make small mistakes, like wasting money on a cheap toy that breaks, because those lessons stick far better than lectures. Ultimately, saving is a habit, and childhood is the easiest time to form habits that will serve them for a lifetime.
Do you think it is important to save money?
Absolutely – saving money is the foundation of financial security and freedom. Without savings, an unexpected car repair or medical bill can become a crisis, pushing you into debt. Savings also allow you to take advantage of opportunities, like further education, starting a business, or moving to a better job without a safety net. Beyond emergencies, saving enables long-term goals like buying a home or retiring with dignity, which are nearly impossible on a paycheck-to-paycheck basis. That said, saving should not become an obsession that prevents you from enjoying the present; balance is key. The rule of thumb I follow is to save at least 20% of any income, but also to spend guilt-free within a planned budget. In a world of economic uncertainty, savings are not just money – they are peace of mind.
Do you think that people buy a lot of things that they don't need?
Undeniably yes – consumer culture actively encourages overconsumption through advertising, social comparison, and the dopamine hit of a new purchase. Many people buy clothes they never wear, kitchen gadgets they use once, or the latest phone when their old one works perfectly. Part of the problem is that we confuse “want” with “need,” and marketers blur that line deliberately. Another factor is emotional shopping: buying things to relieve boredom, stress, or sadness, which rarely works in the long term. The rise of fast fashion and flash sales exploits our fear of missing out, leading to impulse buys that often end up in charity shops or landfills. That said, the definition of “need” varies – someone might genuinely need a reliable car for work, while another person’s “need” for a luxury watch is purely status. A good check is to ask: would I buy this if no one else would ever see it?
*What is the biggest mistake young people make with money? (added)
The biggest mistake is probably not starting to save and invest early, because they underestimate the power of compound interest. A person who saves $100 a month from age 20 to 30 will have more at retirement than someone who saves $500 a month from 30 to 60, thanks to decades of growth. Another common mistake is lifestyle inflation – as soon as their income rises, they immediately upgrade their apartment, car, and restaurant habits, leaving nothing extra for savings. Many also carry credit card debt, paying 20% interest on purchases while their savings accounts earn 1%, which is mathematically insane. Finally, young people often neglect an emergency fund, leaving one accident or job loss away from financial disaster. The solution is boring but effective: automate savings, avoid high-interest debt, and live like a student for a few years after starting work.
*Why is it harder for some people to save than others? (added)
It is harder for structural reasons, not just personal weakness – low income, high rent, medical bills, or supporting family members can leave nothing left to save. Even for middle-income people, the psychological pull of instant gratification is powerful, reinforced by algorithms designed to make you spend. Some people never learned budgeting because their parents also struggled financially, or they grew up in scarcity and now spend impulsively whenever they have money. There is also the “what’s the point?” feeling: when your savings goal (a house down payment) seems impossibly far away, saving $50 a month can feel futile. Finally, financial systems are not equally accessible; bank fees, minimum balances, and lack of financial literacy resources disproportionately hurt the poor. So while personal discipline matters, we should be careful not to moralise about saving without acknowledging these real barriers.
Reading a model answer is not the same as saying one. The sample above shows what a strong Part 3 answer sounds like. What it cannot tell you is how yours sounds — whether you hesitate, repeat the question back, or run out of things to say at forty seconds.
You can record an answer to this exact question and get it marked on fluency and coherence, lexical resource, grammatical range and pronunciation — the same four criteria the examiner uses.
Common questions
How is Part 3 different from Part 1?
Part 1 is about you; Part 3 is about people in general. The questions move to society, causes and consequences, and the answers are expected to be longer and more developed — an opinion plus a reason plus an example.
What if I have no opinion on the question?
You are not marked on the opinion, so pick one and support it. Saying you have never thought about it and stopping there leaves the examiner nothing to assess.
How long does Part 3 last?
Four to five minutes. The topics develop out of your Part 2 card, so the discussion is usually connected to what you just described.
Model answers written and reviewed by The English All-in-One IELTS team. They are teaching models showing what each band looks like, not real candidate scripts.