(2024) IELTS Speaking Part 1 Topic Money

Honestly, I prefer the former. I have a habit of saving, like put several hundreds aside every month for emergencies. I used to be an impulse buyer, but then I understood the importance of saving, so l began to save up and only spend when I have to.

When I started working, I have opened a saving account and each month, as long as I get my paycheck, I set aside a couple of hundred to a few thousand yuan and save them in the account. On top of that, I never spend on things I can’t afford or don’t need.

Payment apps and mobile payment are helpful, efficient and convenient to use.
Digital payment makes cashless transactions possible and it speeds up the paying process. What’s more, payment apps give me instant access to things I need to buy even though I go out without my wallet.

I hardly use credit card except in special cases: It is easy to develop bad habits like
overspending or impulse consumption. As l get used to using credit cards, as long as I get paid, the first thing I have to do is to pay bills. You know stress and I don’t want to be those people that can’t save money.

I don’t think so. As online payment is growing in popularity, effective and easy, people are so used to living with this type of payment. With technology, there might be. more convenient means for people to pay for things in the future. Cash may not fade away, but I don’t think it’s gonna be popular as before.

Haha, very good question. Of course, I would love to spend money because money is earned to be spent. Life is so short, and money is just a piece of paper if you don’t utilize it. However, I do believe I need to be responsible with my finances, so I always put some money aside for rainy days.

Saving money is not an easy task, and I have to say that this is something that I’m still learning. For now, since I’m still young and not making much money, I transfer 1000RMB each month to a fixed income investment account. My main focus now is to improve my income-earning potential rather than figuring out how to save a bit more money.

Don’t even get me started on that! I think payment apps are super convenient, but the major issue is that you don’t feel any pain when you pay for anything. This psychological difference really makes impulse purchases so easy, and I can tell you that I have made some bad purchase decisions over the years because of that.

Yes, I try to use a credit card more often nowadays than payment apps, mainly for two reasons. First, credit cards often offer cashback programs, allowing me to save some money on purchases. Second, taking out a credit card is still more work than using my phone to pay; this effectively allows me to reconsider my purchase decision.

Not really. I think many governments around the world are trying to phase out cash, including China, because people are simply not using that much cash anymore. However, I do still keep some change on me just in case I run into situations where I can only pay by cash.

I tend to lean towards spending money, but not in a frivolous way. For me, spending is like adding fuel to my financial motivation. It stimulates me to earn more and, paradoxically, to save more.

Each expenditure acts as a reminder of the value of money and the effort it takes to earn it. It’s akin to running a race; the more ground you cover, the more motivated you are to push towards the finish line.

By spending wisely, I feel encouraged to replenish my funds, which in turn leads to a cycle of earning and saving.

In essence, thoughtful spending sparks a drive in me to maintain a healthy financial balance.

To save money, I employ a strategy akin to steering a ship through choppy financial waters – I use a financial management project. This involves meticulously planning and tracking my income and expenses.

It’s like having a financial GPS; I know exactly where my money is going and how to navigate towards my savings goals. This project allows me to allocate funds wisely, ensuring that each penny is spent with purpose and intent. It’s not just about stashing away cash; it’s about cultivating a mindful approach to spending and saving. This methodical approach is my compass in the sea of financial decisions, guiding me towards fiscal responsibility and stability.