Many people prefer to spend money and not save it. What are the reasons? Is it positive or negative?

It is true that nowadays, a considerable number of individuals have a tendency to spend their

money

instead

of saving it. There are a number of reasons for

this

trend, which is having a significant impact on both family life and on the community as a whole. There are two important factors behind

this

phenomenon.

Firstly

, I would argue that the pressure to keep up with the rising standard of living in a society can make people spend all their incomes. With the development of technology and the growth of the economy, life has become more sophisticated and requires effort from each individual to adapt to

this

situation.

For instance

, every year a new iPhone model comes on the market, and many people buy it because they believe theirs is an old and outdated version.

Thus

, many people tend to spend their

money

on buying expensive items that they do not really need.

Secondly

, the phenomenon of

shopaholism

has become a common feature in many societies. It means people are addicted to shopping, and that prevents them from saving any

money

.

In addition

, advertising

also

contributes to encouraging people to spend more

money

than they intend.

However

,

this

tendency to spend all of one's

money

could have negative consequences for the individual and society as a whole. An important concern is when a

person

is faced with unexpected circumstances and they need

money

to deal with some difficulty. If that

person

does not have any savings,

then

they are in trouble. Not saving

money

for a rainy day may easily lead to poverty if a

person

has to deal with some financially demanding issue

such

as an illness, an accident, or unemployment.

Additionally

, saving

money

is a wise strategy for a

person

and their family to ensure future financial stability and independence. To sum up, the two main reasons for people to spend their

money

and not save it is the rising standard of living in many societies and addiction to shopping.

However

, that tendency to spend and not save can lead to financial difficulties and even poverty.