Many people believe that they should spend money to enjoy life at present.others however, think they should save it for the future. Discuss both views and give your opinion

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Money
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is an essential part of
life
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. The important question about earned
money
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is how someone spends those. Some people urge that we should spend our earnings enjoying
life
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, and others believe saving is more important than enjoying the present. In
this
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,essay I shall discuss the merit and demerits of both these views
along with
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my opinion.
To begin
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with, spending
money
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on current entertainment gives us enormous joy and mental health. But, in the long ,term it is not a good idea, considering the reason
such
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as unexpected expenses
due to
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emergencies and secured retirement
life
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.
For instance
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, Those who are enjoyed presently end up with a
money
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shortage, if any medical emergency arises in the family. In another description, they mostly end up with no savings after retirement leading to a poor and struggling
life
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in their old age.
Secondly
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, saving
money
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for the future gives versatile advantages in the long term point of view in terms of children's health and education, a healthy and happy retirement
life
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and independence in old age.
For example
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, small savings every day or a month lead to an accumulation of
money
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, which can be spent in different saving forums including the share market,
this
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multiplies the amount and at a later stage it could be useful for various purposes.
However
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, the person misses their enjoyment and increases the stress during these periods. In my opinion-Based on the advantages and disadvantages pointed out by both of the views- it is of utmost importance to maintain the balance between savings and current entertainment. In conclusion, one should not only enjoy every bit of their present
life
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but
also
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proceed with regular saving plans.
Submitted by unnikrishnanpp153 on

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Topic Vocabulary:
  • live in the moment
  • instant gratification
  • leisure activities
  • make memories
  • relieve stress
  • boost mental well-being
  • support local economy
  • wealth accumulation
  • financial stability
  • emergency funds
  • retirement savings
  • major life events
  • weigh the pros and cons
  • strike a balance
  • long-term perspective
  • financial preparedness
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