Live entertainment and spending on experiences: IELTS Speaking Part 3 questions and answers

I think it's because experiences create memories that often become more valuable over time, whereas the excitement of a new possession fades quickly. A holiday or a concert also tends to be shared with friends or family, so it strengthens relationships. Social media plays a part too, since people enjoy sharing photos of special moments. For example, many of my friends would rather spend their savings on a trip abroad than on a new phone.

In many cases, yes. Ticket prices for major artists have risen sharply, and extra booking fees often make the final cost much higher than advertised. This means that many young fans, who are often the most passionate, simply can't afford to go. On the other hand, organising large events is genuinely costly, with security, staff and equipment to pay for. Still, I think offering a share of cheaper tickets would make these events much fairer.

To some extent, I believe they do, because activities such as golf, sailing or skiing are hard to take up without considerable money. As a result, people from wealthier backgrounds gain not only enjoyment but also social connections that can help their careers. That said, many enjoyable hobbies cost very little, like running, chess or football in the park. Public facilities and community clubs can also help make more expensive pursuits available to people on lower incomes.

I'd say young people are heavily influenced by their friends and by what they see online. If everyone in their social circle is going to a festival or buying a particular brand, they feel pressure to join in. Many also prioritise experiences, such as eating out or travelling, over saving for things like a house, which can feel impossibly distant. However, plenty of young people are quite careful, using budgeting apps to keep track of their spending.

I think the sensible approach is a balance between the two. Saving regularly from an early age builds financial security and makes it easier to cope with emergencies later on. At the same time, some experiences, like travelling with friends, are much easier when you're young and have fewer responsibilities. Personally, I try to save a fixed portion of my income each month and then spend some of the rest on things I'll genuinely remember.