People should spend less money on unnecessary things and save more for the future. How much do you agree with this opinion and why?

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It is often considered by some that,
money
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savings are good practice when compared to spending now and
then
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.
However
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, in my opinion, excessive spending's for unnecessary things make the situation worse not only in the
future
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but
also
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present. At once,
money
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-saving behaviour would likely to have prosperous
life
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now and in the forthcoming years and probably for the
next
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generations.
To begin
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with, it is good to have some
money
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for
future
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usage or the unexpected crisis in day to day
life
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. In brief, people who had the interest to save
money
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may help them to cope with the stressful situations in
life
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like emergency medical care, retired
life
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usages, and for the sake of children.
Moreover
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, saving
money
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in terms of insurance, health policies, would help people to be more relaxed and volatile free
life
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to arise a dilemma in the
future
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. Saving
money
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may help the investors get interested in the saved
money
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that would be more beneficial and helpful to some extent.
For instance
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, retired couples explain that their daily needs may be fulfilled by the interest which they got from the fixed saving deposits of one bank.
On the other hand
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, people who spend huge amounts of
money
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for daily needs and enjoyments would have a deleterious impact on their
life
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.
In other words
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, even the
future
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life
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is not predictable, many people suffering from the financial dilemma in some stages of
life
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. Shopping craze and spending
money
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for unsound lifestyle may lead fail to joint the two edges of
life
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in later
life
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.
For instance
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, many students would have struggled to study materials and resources by the reckless expenditure of their parents. It is a true phenomenon that, people who lived a
life
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irrespective of saved
money
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would face many challenges in the
future
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by the influence of global financial crisis or inflation. To sum up, some daily spending is essential,
nevertheless
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, lack of saving may lead to a detrimental effect on the near
life
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. Thereby, it is better to have some earnings to be saved in a secured area an that would help the people to surpass crisis and overcome the issues independently.
Submitted by kopernik.supermarket.chalvy on

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Topic Vocabulary:
  • financial security
  • safety net
  • unforeseen circumstances
  • emergencies
  • future investments
  • retirement planning
  • financial discipline
  • habit of saving
  • amassing wealth
  • substantial fund
  • opportunity cost
  • additional income
  • inflation
  • purchasing power
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