Many people spend all their money as they get it, rather than saving for the future. What are the reasons for this? Is this a positive or negative situation?

Since the beginning of time, the concept of saving or spending cash has been a sparking debate. Some individuals make it a habit to spend their income

while

others consider saving for the future a smart alternative. The reasons behind spending range from sheer necessity to selfish wants in a multi-faceted manner. We are all on

this

earth for a finite amount of time and saving is used as a tool for a rainy day. Personally, I believe

this

to be a positive situation when combined with savvy planning.

Firstly

, money can buy happiness, regardless of age and responsibility.

For example

, when comparing new parents to teenagers, their financial responsibilities would be vastly different. In the short term, teenagers could have their immediate wants fulfilled by purchasing a pair of shoes with their weekly paycheck. When compared to newly found parents, it would bring satisfaction to the parents should want to plan and execute their child's future education or pay off their mortgage through their hard-earned income.Splashing out can give instant dopamine.

This

can bring

overall

society joy. Controlled spending does not necessarily mean impulse spending which the wider community need to understand. There is a reason there is a cost for everything and nothing is free. Personally, I believe if you earned the money it is up to you how you spend it. It is possible to spend to grow your portfolio through intelligent investment. If everyone only saved

this

would limit

overall

economic growth.

Secondly

, health is something you cannot buy. ,

,

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However

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,However

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when you allocate funds to support your goals it could become beneficial. An example of

this

includes paying for medical treatment after you've had an injury

such

as stem cell treatment. Personalised treatments are justified when your goals are aligned with sports

this

could bring you back to your peak performance,

moreover

would support economic growth. On the other ,hand purchasing protein powder or other supplements demonstrates that nothing is free especially when trying to optimize extracurricular activities

such

as athletic performance.

Thus

I conclude, individuals spending their capital as they receive their revenue rather than saving for the future is beneficial. It is essential to save, create strong habits and create generational assets

while

spending scarcely. Spending could lead to splurging, and extravagant outgoings are usually not done in a controlled manner. The aforementioned has provided detailed reasons for why people are more willing than others and is ultimately a positive situation when combined with the benefits of planning forward financially.