Some people think that it is best to save money for example in a bank or savings schemes. Other people feel that money should be spent whenever it is available, discuss these views and reach an opinion on this debate.
People have different views about whether it is a smart choice to spend money immediately or money should be saved in a bank or savings schemes. While some people want to favor spending money as soon as they earn it, I would argue that it is more beneficial to save money as much as you can in case of emergency. On the one hand, people have a variety of reasons to justify their decision of spending money quickly. Firstly, it is inevitable to spend the sizable proportion of their disposal income on purchasing the daily necessities such as food, drinks, grocery and clothes. As a result, their salary has beeb used up and there is nothing left to save, especially in case of low-income groups. Secondly, the consumption of goods and services is one of the important indicators of the prosperity of a country. Therefore, spending money on these products and service is a worthwhile activity. On the other hand, it seeems to me that the benefits of saving money are greater than the drawbacks. The first advantage is that people could be well assured about their life if they have savings money in their bank account. For example, unexpected events such as accidents, illnesses, unemployment or bankruptcy may happen randomly without being noticed. In these cases, having large amount of money available in the bank can save one's life from hardship, especially in the ever-changing economic situation. Furthermore, reckless spending results in many serious consequences as people buy unnecessary items which are advertised agressively on the internet. In conclusion, I concur with those who agree with the view that it is wiser to save money wherever possible for the future use.