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

It has been universally accepted that the problem of not saving wealth
of spending is escalating at an alarming rate. The issue is bringing a state of depression among the masses and in the economy too. There are a plethora of reasons for the same and its possible solutions can be suggested too which are discussed as follows. To start with, In regards to the complication, the major reason which can be stated is the literacy rate in people.Adults don't have enough knowledge about saving their income for certain or bad times. In support of
, children commonly save their money for specific occasions or when they have to buy certain objects for themselves. Another problematic cause is costliness in the country.
For instance
, in most developed cities all public hubs and party halls are cheaply available so that they can catch very easily. Because of
leisure day, everyone is removed from their stressful career life and works more productively. On the Other Side, in any Emergency
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we do not have any financial backup and we lose something because of the no money. At that moment we understand the importance of saving. And
our liability increases and income decreases.
as we cannot predict what will happen in future. if any medical issues happen and at any ,cost we treat that hour with the help of others by lending money. Seeing the problem with a brighter mind, many solutions can be helpful to curb
menace. One of the solutions is to save pocket pay even in lesser amounts after a
I will be increased in the amount and ready for any mishap situation.
,some banking networks
provide saving options with little amount of investment and adults can make much after some era period.
, saving wealth can be used in future for family belongings or children for their education and lifestyle.As a ,result the amount of debt surged.So we must be aware of the features of saving.
To conclude
, solving a global issue is not easy but with the joint efforts of the people, control can be taken over the complication with the aforementioned suggested measures. I believe that everyone should come forward to mitigate
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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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