Money & Finance — Part 4
The Celpip Plus team
Written and reviewed against the official CELPIP scoring criteria
What you'll learn: the formal, written-register phrases and connectors used to discuss money and economics in essays — the vocabulary that separates a CELPIP Writing Task 2 response scored in the top band from one that reads like spoken English typed onto a page.
Why register matters in Writing Task 2
CELPIP Writing Task 2 often asks for an opinion on a survey question, and money-related topics (raising minimum wage, taxing sugary drinks, subsidizing public transit) are common. These essays are scored partly on "vocabulary" and partly on the appropriateness of tone. Casual chunks like "money doesn't grow on trees" belong in Speaking, not in a formal essay. This lesson focuses on the connectors and set phrases that keep a finance-themed essay sounding academic and controlled.
Core collocations
| Collocation | Meaning | Example sentence |
|---|---|---|
| a significant proportion of income | a large share of what someone earns | For low-income families, rent absorbs a significant proportion of income. |
| in light of rising costs | considering that costs are increasing | In light of rising costs, many households have reduced discretionary spending. |
| it is widely acknowledged that | a way to introduce a commonly accepted claim | It is widely acknowledged that financial literacy should be taught in schools. |
| from a financial standpoint | considering only the money-related angle | From a financial standpoint, renting can be more flexible than buying. |
| as a result of inflation | because prices have risen over time | As a result of inflation, grocery bills have climbed sharply this year. |
| this trend can be attributed to | this pattern is explained by | This trend can be attributed to stagnant wages and rising housing costs. |
| in terms of affordability | when considering how affordable something is | In terms of affordability, public transit remains the better option for most commuters. |
| a growing body of evidence suggests | more and more research points to a conclusion | A growing body of evidence suggests that debt stress affects physical health. |
| on the other hand | introducing a contrasting point | On the other hand, higher taxes could fund essential public services. |
| consequently | as a result (formal connector) | Interest rates rose sharply; consequently, mortgage payments increased for many families. |
| it is essential to consider | signals an important factor the reader should weigh | It is essential to consider the long-term impact of consumer debt. |
| in the long run | over an extended period of time | In the long run, investing early tends to outperform saving alone. |
Worked example — CELPIP Writing Task 2
Prompt: Some people believe the government should raise the minimum wage. Do you agree or disagree?
It is widely acknowledged that the cost of living has climbed steadily over the past decade, yet wages for many workers have not kept pace. From a financial standpoint, I believe raising the minimum wage is a necessary step. For workers in low-paying jobs, housing alone can absorb a significant proportion of income, leaving little room for savings or emergencies. As a result of inflation, this gap has only widened in recent years. A growing body of evidence suggests that modest wage increases do not lead to widespread job losses, as critics often claim. On the other hand, some small business owners argue that higher labour costs could force them to reduce staff. In terms of affordability, however, the current minimum wage in many regions falls short of covering basic needs. Consequently, I believe a gradual, well-planned increase would benefit workers in the long run without destabilizing the broader economy.
Common mistakes
- Starting a formal essay sentence with "So" instead of the appropriate connector consequently or as a result.
- Using "in light of" without an object — it must attach to a noun phrase, as in in light of rising costs.
- Overusing "I think" instead of academic hedges like a growing body of evidence suggests or it is widely acknowledged that.
- Writing "in terms of affordable" instead of the correct noun form in terms of affordability.
- Mixing spoken chunks (e.g., "money's tight") into a formal essay — keep Part 5's speaking phrases separate from Task 2 writing.
Recap
For CELPIP Writing Task 2 essays on money topics, lean on formal connectors and set phrases — in light of, consequently, from a financial standpoint, a growing body of evidence suggests — to keep your argument structured, objective, and appropriately academic in tone.