This post contains some common questions and answers about money in English. The Duolingo Speaking Test Questions can be asked in Duolingo English Test as well as IELTS Speaking Test.
I have created some sample Duolingo Speaking Test questions and answers under the popular topic of money and finances. It is important to read the information and follow the style in the answers so that you are able to speak about similar topics in your real exam.Let’s explore some sample questions about money with their model answers.
- Importance of financial education for kids
- How to manage your finances as a student
- How to save money as a student
- Why good spending habits are important
- How to deal with inflation in recent times
- How tourism can affect a country’s economy
- Financial aid for seniors in your country
- Should students work as they study
Do you think you can discuss these topics? Some questions can be answered from your own experience, for others you need to surf the internet and gather information. For your convenience, I have covered some information about the topic on money under these questions. Let’s read them and try to retain the information and style.
Duolingo Speaking about Money or finances
Here are some example questions and answers about money and finances. Notice how connecting or transitional words and phrases are used in the answers. They are highlighted in bold.
Q.1.What is the importance of financial education for young students? Give your opinion.
In my opinion, financial education is highly important for the students. Managing money and using money wisely is like other habits that should be taught from an early age. In most cultures, parents are responsible for the financial needs of their kids but it is imperative that they teach them how to earn and use money independently and responsibly.
If the parent do not guide their children about using money, they might learn it the hard way. Even with the pocket money that students get, they should be taught not to spend everything hanging out with friends or shopping. Instead they should put something aside regularly to achieve a bigger dream such as buying a car or paying for their education. I think this habit will benefit them greatly in future.
I would also suggest that, the students should be encouraged to to do part time jobs or online jobs in their free time. This is because working as a student teaches them how money is earned and how they should manage their money. Moreover, they can invest their money in saving plans for students for their future education.
So definitely, financial education is very important for the young students and it will make them more responsible with money in their later lives.
Q2.How would you save money as a foreign student? Do you think it is important to keep money aside?
Well, for a foreign student, money has great importance. Usually, foreign students have to pay large amount of fee to study at a foreign college or university. Most of them also have to rent a place. That is why, they cannot afford to be very lavish in their expenditure.
So, this circumstances would apply to me as well if I went to study abroad. So as a foreign student, I would certainly make a strategy to save money from my parent’s allowance and my student loan. I would make a budget on how much to spend on my food and clothing and how much to save in the bank. I believe it is a better idea to avoid dining out and cook food at home weekly.
That way one can save unnecessary expense on food. It is also necessary, in my view, to keep your social life at a minimum level as a student. Many students waste their time and money hanging out with other students. That only makes them lose focus on their studies and lose their money even before the next allowance is due. I would definitely avoid this situation.
To answer the second part of the question about the importance of keeping money aside; I would say it is quite important to save money since if you spend everything you have, you can get into trouble.
Many students are sucked in by the latest fashion trends and social activities. Consequently, they are left without money which is crucial to have when you are responsible to pay for your food, rent and fees. For these reasons I would say that saving money or keeping something aside for future needs in highly important.
Q3.Should students work as they study? Give your opinion.
This might be a controversial topic since many parents or students might not agree to it.They think that a students’ primary responsibility is to study and sometimes students start earning money at the cost of their studies.
In my point of view, there are opportunities when the students can work without doing harm to their studies. In foreign countries, the students are only allowed to work part time or certain number of hours. I think that students should avail this opportunity.
An excellent opportunity are the seasonal jobs available in summer vacation, that most students can easily do. They can even make money by working even one or two days a week.Above all, working will also lower the burden of their financial liabilities. Also, they will learn discipline and time management that you learn only when you work.
In certain circumstances, it also becomes necessary for students to work, like paid internships or volunteer work in order to get a job.
For the above reasons, I would strongly recommend that the students should be encouraged to participate in work opportunities whenever they can do it.
Q4.Discuss how tourism can affect the economy of country? Give some details.
Well, as most people know, Tourism affects a country’s economy mainly by creating jobs for the local community. Tourism can be of many kinds including cultural tourism or sports tourism etc. If certain areas of a country are tourist attractions, they get local or foreign visitors and thus can grow businesses in that area.For example, there is an opportunity to sell local products at profitable prices and promote local businesses and culture.
It is interesting to note that the countries with a lot of historical attractions, museums and parks mostly gain a lot of visitors all year long. That is why the countries like Singapore, England, Turkey or Spain make a lot of money from tourism. In some countries or places, tourism is only seasonal and economic development only occurs during the months when tourists visit the place.
After the season is over, they locals lose jobs and the businesses get slow. That is the downside of tourism industry when it only allows businesses to flourish at a certain time of the year.
In a nutshell, tourism greatly affects a country’s economy but countries and places with more tourist attractions benefit more from tourism.
Q5.How to deal with inflation in recent times? Give some ideas
In the recent few months, everybody is talking about prices of commodities going up which is true around the world. The prices have generally increased specially after COVID 19 and no one is happy about it. In these circumstances, I always think of saving money on things and avoiding unnecessary expenses. Budgeting has always been important and it is more important than ever in current times.
Besides budgeting, it is useful to find cheaper deals of things in the market. For example, wholesale stores can offer good deals on grocery and other stuff. But it is important that you stick to your actual list and not buy anything impulsively.
Another way to fight with inflation is to stop unnecessary visits outside. We should keep an eye on the fuel prices and if they seem unaffordable, try using public transit which is much cheaper.
One more thing that I would like to mention is eating preferences. In my observation, many people regularly dine out or at least visit the coffee shop daily. This sort of routine can easily rip you off of your money. Eating out once in a while is fine but doing so frequently is one cause of losing money fast. That is why it is better to cook food at home which is healthier and economical.
So these are some of the ideas I can think of for dealing with inflation and saving money.
