A lot of people nowadays are spending too much money and they don’t save anything for future use. Is this a positive or a negative development?

In

this

period of modernity, many people do not have financial discipline as they are spending huge money rather than saving for future needs .

As a result

, they are landing in problems at a later stage. My opinion, I strongly agree that

this

is a negative development and my opinion will be discussed in my

further

paragraphs

along with

a sensible conclusion. Supporting my agreement with the given statement, I firmly believe that people's earning capacity will decline with their age

hence

they should plan their savings when they are earning well.

For instance

, a survey conducted in Hong Kong revealed that most elderly people depend on their retirement benefits for their minimum needs.

Moreover

,

due to

the recession, we never know when we are going to lose our job so we should have a proper bank balance to lead a quality life during that tough situations. Explaining some of the other points in favour of

this

statement, It is true that sufficient money is required to aim high and achieve something in life.

For example

, if we do not have sufficient budget we may not be able to join our loved ones in the best schools.

Furthermore

, the younger generation tends to spend too much on unnecessary things

such

as expensive gadgets, bikes and many more which is not a good sign.

As a result

, they may get into a financial crisis. In conclusion, I would like to say that the current spending trend is a negative development, one should spend money wisely to lead a quality life. I believe that the aforementioned points are strongly supporting my viewpoint.