IELTS vocabulary for economy and money
131 words and phrases taken from Band 8 answers to real economy and money questions in our test bank, each with its meaning and the sentence it was used in. The first list is formal vocabulary for Writing Task 2; the second is everyday vocabulary for Speaking.
Writing Task 2 vocabulary
- contemporary commerce : the way business and trade function in modern times
The transition from physical currency to credit cards for routine purchases has become a defining feature of contemporary commerce.
Credit cards versus cash: advantages and disadvantages analysed- expenditure : the total amount of money spent by someone
Carrying minimal cash reduces the risk of loss or theft, and digital records allow individuals to monitor their expenditure with precision.
Credit cards versus cash: advantages and disadvantages analysed- anonymity : the state of not being identified by name
This transparency encourages more disciplined financial planning compared to the anonymity of using banknotes.
Credit cards versus cash: advantages and disadvantages analysed- impulsive : acting or doing something without considering the consequences
Conversely, the reliance on credit cards often leads to impulsive spending and potential cybersecurity vulnerabilities.
Credit cards versus cash: advantages and disadvantages analysed- vulnerabilities : weaknesses that can be exploited by outside threats
Conversely, the reliance on credit cards often leads to impulsive spending and potential cybersecurity vulnerabilities.
Credit cards versus cash: advantages and disadvantages analysed- propensity : a natural tendency to behave in a certain way
While the ability to track expenses and avoid carrying physical currency is undoubtedly beneficial, the propensity for overspending and the threat of digital fraud remain serious concerns.
Credit cards versus cash: advantages and disadvantages analysed- vigilance : the action of keeping careful watch for potential danger
Users must exercise significant self-control and vigilance to ensure that this modern convenience does not become a long-term financial burden.
Credit cards versus cash: advantages and disadvantages analysed- categorisation : placing items or data into specific distinct groups
For instance, most banking applications now provide real-time categorisation of spending, which assists users in maintaining a monthly budget.
Credit cards versus cash: advantages and disadvantages analysed- catalyst : something that causes an important change to happen
Economic development acts as a catalyst for profound improvements in the quality of life for the general population.
Economic development versus social values: do advantages outweigh disadvantages?- tangible : clear enough to be easily seen or noticed
While some observers argue that this pursuit often compromises traditional social values, I believe that the tangible benefits of economic progress significantly outweigh these cultural costs.
Economic development versus social values: do advantages outweigh disadvantages?- deep-seated : firmly established and difficult to change or remove
For instance, countries that have experienced rapid industrialisation often report significant declines in infant mortality rates and higher literacy levels, demonstrating that material wealth provides the necessary resources to solve deep-seated societal issues.
Economic development versus social values: do advantages outweigh disadvantages?- inadvertently : happening without intention or being done by accident
Conversely, an intense focus on economic gain can inadvertently erode the fabric of traditional communities.
Economic development versus social values: do advantages outweigh disadvantages?- fragmentation : the process of breaking something into small parts
A pertinent example is the phenomenon of urbanisation in developing nations, where the migration of young workers to industrial hubs often leads to the fragmentation of multi-generational households and a subsequent loss of indigenous cultural practices that once provided social stability.
Economic development versus social values: do advantages outweigh disadvantages?- indispensable : absolutely necessary and cannot be done without
Ultimately, although economic development presents challenges regarding the preservation of social heritage, the fundamental improvements it brings to public welfare are indispensable.
Economic development versus social values: do advantages outweigh disadvantages?- judiciously : having or showing good sense and sound judgement
By judiciously managing the pace of growth, governments can harness the benefits of a robust economy while implementing policies that safeguard the cultural identity of their citizens.
Economic development versus social values: do advantages outweigh disadvantages?- safeguard : to protect something from harm or damage
By judiciously managing the pace of growth, governments can harness the benefits of a robust economy while implementing policies that safeguard the cultural identity of their citizens.
Economic development versus social values: do advantages outweigh disadvantages?- affluent : having a great deal of money and wealth
The debate regarding the responsibility of affluent nations to provide financial assistance to developing countries is a significant topic in international relations.
Financial aid for developing nations: to what extent- underpin : to support or form the basis of something
Financial aid is essential for establishing critical infrastructure and public services that underpin human development.
Financial aid for developing nations: to what extent- catalyse : to cause or accelerate a significant change
For instance, international funding directed toward vaccination programmes in sub-Saharan Africa has significantly reduced child mortality rates, demonstrating how external support can catalyse essential social progress that local resources alone cannot achieve.
Financial aid for developing nations: to what extent- mitigating : making something less severe, serious, or painful
Furthermore, assisting poorer nations fosters global stability by mitigating the root causes of conflict and mass migration.
Financial aid for developing nations: to what extent- volatility : the tendency of a situation to change unpredictably
A pertinent example is the Marshall Plan, which helped reconstruct Europe after World War II, thereby preventing further geopolitical volatility and establishing a foundation for long-term peace and economic prosperity in the region.
Financial aid for developing nations: to what extent- incumbent : necessary for someone as a duty or responsibility
It is incumbent upon prosperous states to utilise their resources to ensure a more equitable future for all.
Financial aid for developing nations: to what extent- systemic : relating to an entire system rather than parts
By investing in the infrastructure of developing nations and promoting stability, wealthy countries can effectively address the systemic imbalances that hinder worldwide progress.
Financial aid for developing nations: to what extent- equitable : fair and impartial treatment for all people
It is incumbent upon prosperous states to utilise their resources to ensure a more equitable future for all.
Financial aid for developing nations: to what extent- remuneration : money paid for work or a service performed
The compensation of professional athletes is a subject of frequent debate, with some arguing that their earnings are excessive, while others maintain that their remuneration is justified.
High salaries for professional athletes: discuss both views- lucrative : producing a great deal of profit or wealth
Professional sports are multi-billion-pound industries, driven by broadcasting rights, lucrative sponsorship deals, and ticket sales.
High salaries for professional athletes: discuss both views- capitalise : taking the chance to gain an advantage from
Because the career longevity of an athlete is often limited by physical decline, they must capitalise on their brief prime years.
High salaries for professional athletes: discuss both views- astronomical : an extremely large or high amount of money
Conversely, critics argue that such astronomical pay scales represent a distorted value system.
High salaries for professional athletes: discuss both views- incentivise : providing a motive for someone to do something
This perspective suggests that society should incentivise essential public service roles more effectively rather than prioritising the salaries of those in the entertainment sector.
High salaries for professional athletes: discuss both views- reconcile : making two different ideas or facts agree together
In my view, while it is inevitable that market-driven industries will reward elite talent handsomely, the current gulf in pay is difficult to reconcile with social utility.
High salaries for professional athletes: discuss both views- social utility : the degree of usefulness to the wider community
In my view, while it is inevitable that market-driven industries will reward elite talent handsomely, the current gulf in pay is difficult to reconcile with social utility.
High salaries for professional athletes: discuss both views- distorted : pulled or twisted out of a natural shape
Conversely, critics argue that such astronomical pay scales represent a distorted value system.
High salaries for professional athletes: discuss both views- capital injections : the act of providing money to an organization
While capital injections are undeniably necessary for immediate stability, I contend that transferring technical knowledge and practical skills yields more sustainable progress.
International aid to developing nations: discuss both views- socio-economic : relating to the interaction of social and economic
Proponents of financial aid argue that monetary support is the most effective way to address urgent socio-economic challenges.
International aid to developing nations: discuss both views- bridge these budgetary gaps : to cover the difference between income and expenses
By providing direct funding, international organizations can help governments bridge these budgetary gaps and prevent humanitarian catastrophes.
International aid to developing nations: discuss both views- humanitarian catastrophes : events causing widespread human suffering and death
By providing direct funding, international organizations can help governments bridge these budgetary gaps and prevent humanitarian catastrophes.
International aid to developing nations: discuss both views- root causes : the fundamental underlying reasons for a specific problem
Conversely, others maintain that practical aid and advisory services are superior because they address the root causes of underdevelopment.
International aid to developing nations: discuss both views- institutional capacity : the ability of an organization to perform functions
I believe that prioritising practical advice and skill development is more effective as it fosters institutional capacity and reduces reliance on external support, ultimately leading to more resilient economies.
International aid to developing nations: discuss both views- perpetual funding : money provided continuously without an expected end date
A pertinent example is the success of agricultural training programmes in Southeast Asia, where teaching farmers modern irrigation and crop management techniques significantly increased food security and economic output without requiring perpetual funding.
International aid to developing nations: discuss both views- resilient economies : economic systems that recover quickly from difficult conditions
I believe that prioritising practical advice and skill development is more effective as it fosters institutional capacity and reduces reliance on external support, ultimately leading to more resilient economies.
International aid to developing nations: discuss both views- e-commerce : the activity of buying or selling products online
The retail landscape has undergone a significant transformation with the emergence of e-commerce, leading to a debate over whether virtual platforms or traditional shops are superior.
Online shopping versus physical stores: discuss both views- geographical constraints : limitations imposed by physical distance or location
By removing geographical constraints, these websites allow shoppers to compare prices instantly and read detailed reviews, which promotes informed decision-making.
Online shopping versus physical stores: discuss both views- niche items : specialized products for a small market segment
For instance, platforms like Amazon enable individuals to purchase niche items that would be unavailable in local shops, thereby saving time and broadening consumer choice.
Online shopping versus physical stores: discuss both views- brick-and-mortar : referring to physical businesses with local buildings
Conversely, brick-and-mortar establishments facilitate a tactile shopping experience that is crucial for assessing product quality and fit before purchase.
Online shopping versus physical stores: discuss both views- tactile : relating to the sense of touch
Conversely, brick-and-mortar establishments facilitate a tactile shopping experience that is crucial for assessing product quality and fit before purchase.
Online shopping versus physical stores: discuss both views- high-street boutiques : shops located in main commercial urban areas
A clear example is the fashion industry, where customers frequently prefer visiting high-street boutiques to try on garments, ensuring the sizing and fabric meet their expectations before committing to a purchase.
Online shopping versus physical stores: discuss both views- synergy : the interaction of two factors to produce more
I believe that neither model is inherently better; rather, the synergy between the two provides the most efficient retail experience.
Online shopping versus physical stores: discuss both views- experiential : based on direct observation or personal experience
Consumers will likely continue to utilise digital tools for research and routine purchases while relying on physical outlets for high-value or experiential items.
Online shopping versus physical stores: discuss both views- high-end : Relating to expensive, high-quality products or services.
For example, a customer buying high-end furniture often prefers visiting a showroom to assess the comfort and build quality, which digital images cannot fully convey.
Online versus physical retail: discuss both views- overhead costs : Regular expenses of operating a physical business location.
- unmatched : Having no equal or better than anything else.
Conversely, online shopping offers unmatched convenience and a broader range of choices.
Online versus physical retail: discuss both views- logistical : Relating to the organization of moving goods efficiently.
I believe that as logistical technology continues to improve, the convenience of online shopping will remain the preferred choice for the majority of global consumers.
Online versus physical retail: discuss both views- sensory engagement : Involving the physical senses during a shopping experience.
In summary, although physical stores provide a sensory engagement that online platforms currently lack, the efficiency, cost-effectiveness, and sheer variety offered by digital retailers are more beneficial.
Online versus physical retail: discuss both views- cost-effectiveness : Producing good results for the money spent.
In summary, although physical stores provide a sensory engagement that online platforms currently lack, the efficiency, cost-effectiveness, and sheer variety offered by digital retailers are more beneficial.
Online versus physical retail: discuss both views- perennial : lasting for a very long time or recurring
The debate regarding whether people should accumulate wealth for the future or allocate their earnings towards current pleasures is a perennial topic.
Prioritising future savings versus immediate enjoyment: agree or disagree- prudent : acting with or showing care for the future
While some argue that living for the moment is essential for mental wellbeing, I strongly agree that prioritising long-term financial security is more prudent to ensure stability and future preparedness.
Prioritising future savings versus immediate enjoyment: agree or disagree- redundancy : the state of being no longer needed professionally
Unforeseen circumstances, such as sudden redundancy, medical emergencies, or global economic downturns, can devastate those who live entirely beyond their means.
Prioritising future savings versus immediate enjoyment: agree or disagree- mitigates : makes something less severe, serious, or painful
By consistently setting aside a portion of one’s income, individuals create a safety net that mitigates the risk of debt and reliance on external assistance.
Prioritising future savings versus immediate enjoyment: agree or disagree- delayed gratification : resisting immediate reward for a greater later gain
Furthermore, the practice of delayed gratification facilitates substantial long-term investments that enhance one’s quality of life far more than transient luxuries.
Prioritising future savings versus immediate enjoyment: agree or disagree- transient : lasting only for a short period of time
Furthermore, the practice of delayed gratification facilitates substantial long-term investments that enhance one’s quality of life far more than transient luxuries.
Prioritising future savings versus immediate enjoyment: agree or disagree- compound growth : earnings growing from both principal and accumulated interest
Redirecting funds from impulsive consumption towards vehicles like pension schemes, property investments, or professional development creates compound growth that sustains a person well into retirement.
Prioritising future savings versus immediate enjoyment: agree or disagree- fiscal responsibility : the practice of managing money with careful planning
Consequently, individuals should adopt a balanced approach that favours fiscal responsibility to secure their future wellbeing.
Prioritising future savings versus immediate enjoyment: agree or disagree- periphery : The outer limits or edge of an area.
One significant consequence of soaring living costs is the erosion of social diversity, as lower-income households are frequently pushed to the periphery of urban centres.
Rising urban living costs: identifying problems and potential solutions- arduous : Involving or requiring strenuous and difficult physical effort.
For instance, in cities like London, many public service workers endure arduous, multi-hour commutes because they cannot afford to live within the city, leading to reduced productivity and diminished quality of life for the workforce.
Rising urban living costs: identifying problems and potential solutions- marginalising : Treating a person or group as insignificant or peripheral.
In summary, the escalating financial burden of urban living threatens the stability of city life by marginalising vulnerable populations.
Rising urban living costs: identifying problems and potential solutions- decentralisation : The transfer of authority from central to local.
By adopting robust housing policies and promoting decentralisation, governments can ensure that cities remain inclusive and functional environments for all citizens.
Rising urban living costs: identifying problems and potential solutions- recalibrate : To adjust or adapt to a different standard.
If regional centres are bolstered with better transport links and digital connectivity, the demand for housing in expensive, primary cities would naturally recalibrate, fostering more balanced economic growth.
Rising urban living costs: identifying problems and potential solutions- bolstered : To support or strengthen a weak situation.
If regional centres are bolstered with better transport links and digital connectivity, the demand for housing in expensive, primary cities would naturally recalibrate, fostering more balanced economic growth.
Rising urban living costs: identifying problems and potential solutions- speculative : Engaged in or involving high risk for profit.
Rather than allowing speculative investment to dominate the real estate sector, governments could impose taxes on vacant properties to increase housing supply.
Rising urban living costs: identifying problems and potential solutions- fiscal prudence : careful and sensible management of financial resources
While some argue that fiscal prudence is paramount, others maintain that life is best enriched through active engagement and exploration.
Saving money versus spending on experiences: discuss both views- unforeseen : events that were not predicted or expected
Saving money is a prudent strategy that ensures financial stability and provides a safety net against unforeseen circumstances.
Saving money versus spending on experiences: discuss both views- mitigate : to make something less severe or serious
By setting aside capital, individuals can mitigate the risks associated with sudden unemployment or medical emergencies, thereby reducing anxiety.
Saving money versus spending on experiences: discuss both views- autonomy : the right or condition of self-governing power
For example, those who consistently contribute to a savings account often experience a sense of autonomy and control, allowing them to navigate economic downturns without relying on credit or external assistance.
Saving money versus spending on experiences: discuss both views- idle assets : resources that are not being used productively
Rather than accumulating idle assets, spending on travel, education, or cultural activities broadens one's perspective and sharpens interpersonal skills.
Saving money versus spending on experiences: discuss both views- irreplaceable : impossible to replace if lost or damaged
A person who invests in a challenging expedition or a language course, for instance, gains irreplaceable knowledge and self-confidence that money held in a bank account cannot replicate.
Saving money versus spending on experiences: discuss both views- monetary accumulation : the process of gathering or saving money
By prioritising memorable activities, one ensures that their life is defined by personal development rather than mere monetary accumulation.
Saving money versus spending on experiences: discuss both views- contentious : causing or likely to cause an argument
The debate regarding whether it is wiser to accumulate wealth for future security or to allocate funds towards immediate experiences remains contentious.
Saving money versus spending on experiences: discuss both views- exempt : free from an obligation or liability imposed others
While some argue that personal earnings are private property, I strongly disagree with the notion that individuals should be exempt from taxation, as it is the fundamental mechanism that sustains essential public services and promotes social equity.
Should citizens pay taxes to the state: express your opinion- procure : to obtain something with care or great effort
Taxes are indispensable for the provision of public infrastructure and essential services that individuals cannot realistically procure on their own.
Should citizens pay taxes to the state: express your opinion- redistribution : the transfer of income to promote social equality
Furthermore, a taxation system serves as a vital tool for wealth redistribution, which is necessary to maintain social stability and support vulnerable members of the community.
Should citizens pay taxes to the state: express your opinion- detrimental : tending to cause harm or being very damaging
In summary, the complete abolition of taxes would be detrimental to the collective well-being of the population.
Should citizens pay taxes to the state: express your opinion- cornerstone : an important quality on which something depends entirely
By funding critical infrastructure and facilitating a fairer distribution of resources, taxation remains a cornerstone of a civilised and functional society.
Should citizens pay taxes to the state: express your opinion- viability : The ability to work successfully or survive long-term
The rapid global transition towards digital payment systems has sparked a debate regarding the viability of a society that entirely abandons physical currency.
The rise of a cashless society: advantages and disadvantages- illicit : Activities that are forbidden by law or custom
By digitising every transaction, governments can effectively monitor money flows, which significantly enhances transparency and assists in curbing illicit activities such as tax evasion and money laundering.
The rise of a cashless society: advantages and disadvantages- shadow economy : Economic activity that is unrecorded and untaxed
For instance, in nations like Sweden, the widespread adoption of mobile payment platforms has drastically reduced the opportunities for shadow economy operations, as almost all financial exchanges leave a clear, traceable electronic footprint.
The rise of a cashless society: advantages and disadvantages- paralyse : To cause a total stoppage of normal activity
Relying exclusively on electronic systems creates a dangerous dependency on technology; a single network outage or cyberattack could paralyse an entire nation’s economic activity.
The rise of a cashless society: advantages and disadvantages- precarious : Not securely held in position or dangerously unstable
For example, when major banking software failures occur, individuals without access to traditional cash are often left unable to purchase basic necessities like food or medicine, highlighting the precarious nature of a purely digital ecosystem.
The rise of a cashless society: advantages and disadvantages- inclusivity : The practice of providing equal access to opportunities
A balanced approach, where digital convenience is supported by robust safeguards for those unable to access technology, is essential to ensure that progress does not come at the cost of societal inclusivity.
The rise of a cashless society: advantages and disadvantages- unparalleled : having no equal or better in quality or extent
- migration : the movement of people or activities from one place
The rapid migration of retail activity from physical shops to digital platforms has fundamentally transformed the commercial landscape.
The rise of online shopping: advantages and disadvantages analysed- exhaustive : including all possibilities or covering everything very thoroughly
This shift eliminates the need for travel and allows individuals to browse an exhaustive range of items, often at lower prices due to the absence of overhead costs associated with maintaining a physical storefront.
The rise of online shopping: advantages and disadvantages analysed- viable : capable of working successfully or being sustained over time
Conversely, local businesses struggle significantly to remain viable in this digital era.
The rise of online shopping: advantages and disadvantages analysed- erosion : the gradual destruction or reduction of something important
Furthermore, the decline in foot traffic on high streets leads to the erosion of local community hubs.
The rise of online shopping: advantages and disadvantages analysed- multinational : operating in or involving several different countries at once
Small retailers often lack the capital to invest in sophisticated logistics or digital marketing strategies, making them appear invisible compared to multinational online giants.
The rise of online shopping: advantages and disadvantages analysed- coexist : to exist at the same time or same place
Maintaining a balance between these two modes of retail is essential to ensure that both consumer convenience and community-based commerce can coexist.
The rise of online shopping: advantages and disadvantages analysed- structural unemployment : Joblessness caused by fundamental shifts in the economy.
As machines increasingly perform routine tasks, structural unemployment becomes inevitable, potentially leading to widespread poverty.
Universal Basic Income in the age of automation: evaluate impacts- stipend : A fixed regular sum paid as a salary.
Financing a universal stipend requires significant tax increases or substantial cuts to existing public services, which could destabilise national budgets.
Universal Basic Income in the age of automation: evaluate impacts- destabilise : To cause something to become unsteady or insecure.
Financing a universal stipend requires significant tax increases or substantial cuts to existing public services, which could destabilise national budgets.
Universal Basic Income in the age of automation: evaluate impacts- disincentivising : Reducing the desire or motivation to do something.
- insurmountable : Too great to be overcome or conquered.
In summary, although UBI offers a compassionate approach to the disruptions caused by automation, the long-term financial viability and the risk to the labour market present insurmountable challenges.
Universal Basic Income in the age of automation: evaluate impacts- vocational training : Education focused on specific skills for employment.
The potential for economic stagnation outweighs the immediate relief provided to the unemployed, necessitating alternative strategies such as subsidised vocational training.
Universal Basic Income in the age of automation: evaluate impacts- stagnation : A state of not flowing or moving forward.
The potential for economic stagnation outweighs the immediate relief provided to the unemployed, necessitating alternative strategies such as subsidised vocational training.
Universal Basic Income in the age of automation: evaluate impacts
Speaking vocabulary
- essential : something that is completely necessary and very important
I find it essential for keeping my daily essentials organised, especially since I commute to work and need to carry my laptop and a few personal items throughout the day.
Part 1: Bags- sturdy : strongly and solidly built and not easily broken
It really depends on the occasion, but I mostly rely on a sturdy leather rucksack for my everyday commute.
Part 1: Bags- minimalist : simple, plain and using only the most basic elements
For more formal events or social gatherings, I prefer a slim, minimalist messenger bag as it looks professional and holds just enough for me to get by.
Part 1: Bags- the usual suspects : the people or things you expect to find there
My bag is typically filled with the usual suspects: my laptop, a portable charger, and a reusable water bottle.
Part 1: Bags- compartmentalised : divided into separate sections for better organisation
I look for durable materials that can withstand daily wear and tear, and I also check if the interior is well-compartmentalised so that my belongings do not end up in a chaotic mess at the bottom.
Part 1: Bags- meticulous : showing great attention to detail and being very careful
I am quite meticulous about keeping it in my sight at all times, especially in crowded public transport hubs where it is easy to leave something behind.
Part 1: Bags- boutiques : Small shops that sell fashionable clothes and expensive items.
I tend to frequent independent boutiques in the city centre rather than large department stores.
Part 1: Clothes- high-street chains : Large, popular retail shops found in most city centres.
I prefer supporting local designers because their pieces are often more unique and better crafted than the mass-produced items you find in major high-street chains.
Part 1: Clothes- staples : Basic and essential items that are used very frequently.
Instead of chasing fast fashion trends, I prefer investing in high-quality staples that will last for several seasons, which reduces both my spending and my environmental impact.
Part 1: Clothes- versatility : The ability to be used for many different purposes.
My primary consideration is always the versatility of the garment.
Part 1: Clothes- understated aesthetic : A style that is simple, subtle and not showy.
My tastes have definitely shifted towards a more timeless and understated aesthetic lately.
Part 1: Clothes- silhouettes : The outline or shape of a piece of clothing.
When I was younger, I experimented with bold patterns and bright colours, but now I gravitate towards neutral tones and classic silhouettes that feel more professional and put-together.
Part 1: Clothes- extravagant : spending much more money than is really necessary
Honestly, I tend to avoid extravagant purchases because I prefer saving for travel experiences.
Part 1: Luxury items- splurge : spending a lot of money on something special
That said, I occasionally splurge on high-quality leather goods, such as a sturdy briefcase, because they offer superior durability and timeless style compared to cheaper alternatives.
Part 1: Luxury items- status symbols : possessions that show a person's high social rank
Designer watches and premium handbags seem to be the most sought-after status symbols here.
Part 1: Luxury items- social validation : gaining approval or acceptance from one's social circle
For most, it is fundamentally about social validation and the desire to project a particular image.
Part 1: Luxury items- shorthand : a quick or simplified way of representing something
Owning prestigious brands acts as a shorthand for wealth, allowing individuals to signal their social standing or career achievements to their peers effortlessly.
Part 1: Luxury items- craftsmanship : the quality of design and work shown in objects
I have always been fascinated by automotive engineering, and driving a classic model would be an incredibly rewarding way to appreciate craftsmanship and design history.
Part 1: Luxury items- contactless : a payment method using technology to tap and pay
I almost exclusively use my contactless card because it is far more convenient than carrying around physical notes.
Part 1: Money- disciplined : showing a controlled form of behaviour or working hard
Yes, I am quite a disciplined saver when I have a specific goal in mind.
Part 1: Money- financial compensation : the money someone receives as payment for their work
If a position offered significant opportunities for professional development or allowed me to contribute to a meaningful cause, I would certainly consider it, even if the financial compensation were modest.
Part 1: Money- safety net : money kept to protect against potential future financial problems
Having a substantial safety net would allow me to pursue creative projects without the constant pressure of making ends meet, though I like to think my core values would remain unchanged.
Part 1: Money- frugal : being careful and economical with money or food
I try to be quite frugal, especially when it comes to non-essential items.
Part 1: Money- pastime : an activity that someone does regularly for enjoyment
It is certainly a major pastime here.
Part 1: Shopping- therapeutic : having a healing or relaxing effect on the mind
I actually find it quite therapeutic, especially after a taxing week at work.
Part 1: Shopping- high-street : the main street where major retail shops are located
I really value the unique atmosphere and the chance to discover one-of-a-kind treasures that you simply would not find in mainstream high-street chains.
Part 1: Shopping- hard-earned : money that you have worked very hard to gain
It is a sensible habit because it prevents me from overspending and ensures I am getting the best possible value for my hard-earned money.
Part 1: Shopping- indecisive : not having the ability to make decisions quickly
To be honest, I can be quite indecisive when faced with too many options.
Part 1: Shopping- gravitate towards : to be attracted to or move towards something
Young people here seem to gravitate towards trendy streetwear brands and fast-fashion outlets.
Part 1: Shopping
Use them in an answer and get scored
Write a Task 2 essay or record a Speaking answer on a economy and money question and get a band for lexical resource, with the words used wrongly marked.
Practise IELTS writing and speakingFrequently asked questions
How do I use economy and money vocabulary in IELTS Writing?
Use a few precise phrases that fit your argument, not a list of rare words. Examiners reward accurate collocations such as those above; a misused advanced word lowers the lexical resource score.
Should I memorise these words?
Learn them in the sentence they come from, then write one sentence of your own with each. Words learned in context are the ones you can use under time pressure.
Which economy and money questions come up in IELTS?
Our bank has 14 Task 2 questions and 5 Speaking Part 1 topics on this theme; each word above links to the answer it comes from.
Economy and money questions with answers
- Credit cards versus cash: advantages and disadvantages analysed
- Economic development versus social values: do advantages outweigh disadvantages?
- Financial aid for developing nations: to what extent
- High salaries for professional athletes: discuss both views
- International aid to developing nations: discuss both views
- Online shopping versus physical stores: discuss both views
- Online versus physical retail: discuss both views
- Prioritising future savings versus immediate enjoyment: agree or disagree
- Speaking Part 1: Bags
- Speaking Part 1: Clothes
- Speaking Part 1: Luxury items
- Speaking Part 1: Money
- Speaking Part 1: Shopping
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