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

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