IN THIS UNIT YOU WILL LEARN HOW TO

• produce a balanced 'agree/disagree' essay
• write an introduction and conclusion for this type of essay
• use a range of discourse markers to help sequence your ideas logically
• understand exactly what the essay question is asking you to write.

01. With a partner, discuss what you understand by the term 'financial responsibility'.

Sample answer

There is no clear definition of this term. Some would argue that meeting your minimum credit card repayment every month is being financially responsible, while others would disagree, saying that being in any kind of debt, however small, is irresponsible.

Broadly speaking, being financially responsible might include:

• not spending more than you earn
• knowing the difference between luxuries and essentials, and adjusting your spending on each according to your earnings
• saving for old age
• paying for things upfront, rather than on a credit card.

02. Discuss the following statements with a partner. Make a list of points that support or oppose the ideas given. Think about the following: examples, reasons/explanations, causes/effects.

1. People today are more concerned with owning material possessions than with developing friendships and family relationships.

2. Levels of consumer debt are increasing across the world. To address this, a new subject should be introduced in secondary schools: how to manage personal finances.

Sample answers - these issues and arguments wilf form the basis of essay questions in later exercises

1

Today's world places a high value on consumer spending and having the most up-to-date versions of technology.
Human nature is competitive, and people want to possess more and have better products.
Technological developments, such as social media and new electronic devices, mean that people spend less time communicating face to face and more time online.

However, it can be argued that social media make it easier for people to communicate with friends and family wherever they are in the world.
It is a generalisation to say that everybody puts possessions before relationships.

2

The consumer nature of society encourages people to spend money on things that they cannot necessarily afford, and young adults are less experienced when it comes to making financial decisions.

Most teenagers leave school without a basic understanding of personal finance, such as how credit cards work or what is involved when getting a mortgage, so they don't necessarily realise how to make sure they avoid getting into serious debt.

Banks and moneylenders encourage debt because this is how they make their money.

On the other hand, people are free to choose what they want to buy and everybody has to take responsibility for how they manage their own personal finances.