It is better to save money than to spend it. How far do you agree with this statement? Is saving more important than spending in today's world?

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Should savings take precedence over immediate consumption or vice-versa is an often asked question.  The need to find a proper balance between the two is getting ever critical in the face of growing economic uncertainty.  In my opinion, creating reserves for a rainy day is equally important as addressing immediate consumption needs and
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can find a right balance between the two via proper planning and budgeting. Spending can be classified into voluntary and involuntary spending.  Expense against basic consumption needs like food, clothing, shelter,
healthcare
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health care
and education is inevitable while spending on recreation, entertainment, personal well-being is non-essential to survival.  A budget based approach to rationalizing spending can help
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identify opportunities to cut-down on discretionary expenses while minimizing the impact of the actions on the quality of life. Savings is critical as it acts as a source of provision for meeting essential needs in times of economic difficulty as well as it provides for peace of mind during prosperity.  A hedonistic lifestyle aggravates financial adversity in times of loss of income and
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is forced to make rapid and harsh adjustments to
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's lifestyle which can be quite painful, adequate savings help in ensuring that
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impact remains manageable in case of a change in fortunes. To conclude, spending and savings are equally important and a balanced approach to these via prudent financial budgeting is the best course of action.

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    • Sentence 2 - Detailed background statement
    • Sentence 3 - Thesis
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
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