Many people prefer to spend money and not save it. What are the reasons is it possitive or negative development?

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Spending
money
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recklessly is becoming a trend among
people
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. saving is getting neglected by large sections of society.
This
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essay will first discuss reasons for not saving
money
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and suggest that spending
money
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recklessly is a negative development because financial emergencies can come at any point in time. One reason why
people
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spend more
money
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is that they are inspired by the extravagant lifestyle of celebrities.
Moreover
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,they are of the opinion that spending all your earnings is a trend to follow. It gives them a psychological kick . living an exuberant lifestyle leads to reckless spending fueled by credit cards.
For instance
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, many youngsters spend their earnings on buying an iPhone 6s which
cost
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costs
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more than their entire salary.
However
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,Spending reckless cash on
self
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oneself
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leads to debt. ,
Also
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many
people
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don'
t
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have sufficient knowledge of
money
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management.
furthermore
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, they just don'
t
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know how to invest or save their hard-earned.
Money
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management skills are vital in today's world and lots of
people
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just don'
t
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understand their importance of it. To cite an example , In ,Europe many
people
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live on credit card spending . their credit card debt is higher than their monthly earnings.
To conclude
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. spending
fund
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funds
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extravagantly is a negative development for society . spending your entire salary on luxuries leads to a life full of debt and stress. society should learn and practice
money
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management skills which leads to financial freedom for them. spending funds should be
thoughtful
Correct article usage
a thoughtful
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practice
otherwise
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it leads to a life of debts and stress for
people
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. most of them just don'
t
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understand the importance of having sufficient funds at their disposal to counter the financial challenges one has to face in his/her life.
Submitted by yash334 on

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coherence cohesion
In your introduction, make sure to clearly state your opinion and outline the reasons that will be discussed in the essay. Additionally, ensure that your conclusion restates your main points and provides a clear final thought on the topic.
task achievement
Your essay partially addresses the task by discussing the reasons for not saving money and the negative consequences of reckless spending. To improve, provide a more balanced discussion by considering the positive aspects of spending money as well.
Topic Vocabulary:
  • instant gratification
  • consumer culture
  • financial literacy
  • economic optimism
  • financial instability
  • indebtedness
  • stimulating economic growth
  • personal satisfaction
  • innovation
  • job creation
  • investment
  • wealth accumulation
  • advertising
  • social media
  • luxury lifestyles
  • financial planning
  • future security
  • emergencies
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