Some people think the money they earn should be enjoyed by spending it now, while other thinks that their earnings should be saved for future. Discuss both views and give your opinion.
Financial management is a term
that is
becoming increasingly popular. Hence
, some individuals believe income made should be spent immediately, others are of the opinion that money
earned should be kept for forthcoming purposes. In my opinion, I believe an individual's salary should not be squandered, but kept for rainy days.
On the one
hand, it is commonly considered that an individual's income should be used lavishly because more often than not the future is unknown. To put simply, some people prefer to live in the moment and enjoy life as it comes because they believe the future is unknown and can be terminal. Proponents argue that it is better to enjoy your wage now, rather than save it and take it to the grave rendering it useless to its' owner. For example
, Da Grin, a Nigerian musician, made a lot of money
in 2008, he however died
the following year, rendering his hardworking and earnings useless to him. Accept comma addition
however, died
Consequently
, this
has convinced some people that living in the moment is best and if Da Grin had spent his money
before he died, he would have enjoyed it. Evidently, it is somewhat true that enjoying one
's salary as it comes can be wise.
On the other hand
, I believe that saving for a later date is more advantageous as it makes one
more independent. To elaborate, at least once in a person's life, there would undoubtedly be unseen circumstances. So having spare funds available can help mitigate these life problems without having to rely on other people. For instance
, Gbenga, my friend, developed appendicitis in 2018 and required surgery, he was able to withdraw funds from his savings account to fund the operation. If he did not save his money
, he would have had to depend on family and friends to foot the bill. In all, it is obvious that keeping earnings for a later date can make an individual independent.
To conclude, although
it is evident why it is argued that enjoying one
's salary immediately is wise because of fear of the unknown, I believe keeping it for a later date is more beneficial. Unless money
is saved, people would continue to lean on others.Submitted by efemax4u on
Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Writing9 with appropriate and specific direction to the original content.