It is better to save money than to spend it. How far do you agree with this statement? Is saving money more important than spending in today’s world? Give reasons for your answer, and provide ideas and examples from your own experience. You should write at least 250 words.
Saving money or spending money in this current economical climate poses a dividing question. In this essay, I agree that in this modern world it is important to save money for number of reasons, namely for emergency funds and to many it’s a privilege to spending money. On the one hand, spending money in various ways, such as going on vacations and shopping gives people a certain rush of happiness that is very much needed today. People are overworked, exhausted and unhappy; thus, focusing on saving money would rob them of a better tomorrow. Moreover, sometimes saving money is not always a choice one has a control over, such as buying food, investing in housing and spending money on transportation, these are all items and situations where money is needed to be spent and it does not allow room for one to save money as the remaining amount from their salary might not be great. On the other hand, live altering situations call for a need to save money. In certain places, like the United States of America where healthcare is priced like a luxury, it is very crucial for people to save money in order to afford taking care of their health and paying for their prescriptions. Conversely, as I have mentioned above, cost of living has increased significantly and reached a point where people are unable to afford housing and buying a car. Therefore, it is important to have enough money saved to survive in today’s world and to prevent economic anxiety. In addition, a vast majority of today’s people are either in the working class or financially underprivileged; thus, spending money is not an option for them and saving money is defiantly on the top of their priority list. Overall, based on the majority of people’s economic standing, saving money is very crucial to ones survival and is a priority, as without it, it would lead people to turn to loans from banks with high interest or even being on the verge of bankruptcy. I agree that it’s key to save money rather than to spend it in this modern world.