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?
Money
is arguably the most important commodity of life. Some people desire to spend their earnings and live lavishly, whereas
others believe in the importance of saving for the future. My beliefs align with the latter. In this
day and age, more individuals are spending too much. This
essay will discuss the outcomes of such
a habit.
On the one hand, there is something to be said about spending money
on whatever you want. The freedom to purchase any necessary commodities is a blessing. For example
, having the newest iPad to complete homework easily, or a powerful computer to make remote working efficient. Without spending money
and making do with what you have can impede progress. This
means individuals may need to work twice as hard to get the same result.
On the other hand
, putting money
aside is necessary for financial security. It provides a sense of relief knowing the future is secure. For instance
, for those working in the NHS, a portion of their income is automatically transferred to their NHS Pension Fund which is matched by their employer. This
allows them to be carefree knowing they have their future taken care of and consequently
, lets them focus on the present.
To conclude
there are positives to spending, however
, this
should not be too extravagant. There should be a balance which is appropriate to the person in question. If the spending becomes a little too frivolous, this
could easily lead to debt which is an intensely negative development.Submitted by patelmeera on
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conclusion
The essay could benefit from a stronger concluding statement that integrates both perspectives more cohesively. Try to summarize both the benefits of spending and the necessity of saving in a balanced manner.
main points
When discussing the points, attempt to elaborate more on how spending can negatively affect long-term financial health. This will provide a more rounded and elaborate discussion on the topic.
introduction
The introduction clearly states the writer's position and briefly outlines what will be discussed in the essay.
examples
The essay provides specific examples, such as the NHS Pension Fund, to support the main points.