It is important for eveyone, including young people, to save money for their future. To what extent do you agree or disagree with this statement?

Savings

is an art, not everyone can follow a strict discipline to save money throughout their lives, those who learn

this

art can ensure a safe

future

for themselves and their family. In the recent era, there has been an ongoing debate,

whether

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about whether

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is it necessary for everyone, including the younger generation to control their

expenses

and maximise their

savings

for their

future

. I agree that

savings

is an important factor to ensure a reliable and

stress free

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stress-free

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future

.

This

essay will argue

on

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apply

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why people from all age groups

needs

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need

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to plan their

budget

to save up for their

future

.

To begin

with,

modern

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the modern

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era is full of

expenses

starting from basic necessities

such

as food, clothing and housing which are considered a part of needs (things which are

curcial

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crucial

for

a

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apply

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human survival), with some additional

expenses

related to entertainment including club parties, purchasing highly expensive products (Jewellery and Watches), these

expenses

comes under the category of wants (things which can be overlooked and are not part of human survival),

however

, if a young individual cannot differentiate between their needs and wants and fail to plan their

overall

budget

then

they might not end up saving a considerable amount for their

future

.

For instance

, a recent survey was conducted by the national government of

Tansanzia

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Tanzania

where more than half of the younger generation was spending their average annual income on their "wants"

whereas

only a tiny

proporation

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proportion

of people who were planning their

budget

according

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according to

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their "needs" were able to save up a handsome amount by the end of the financial year.

Additionally

, the younger generation of

todays

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today's

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era

do

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does

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not consider

savings

and investments an important aspect of their lives.

This

mistake and mindset can be corrected if the concepts related to financials are included in their schools and

colleges

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colleges'

college's

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curriculums and topics related to expense and

budget

planning are taught early in their academics stage. A good example can be taken from

the

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western developed countries

such

as the USA and the UK, where

childrens

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children

children's

starting their freshmen year are introduced

with

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to

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subjects related to tax planning and

budget

analysis.

To conclude

,

savings

is a crucial aspect for the futures of individuals regardless of their age. Educating the youth on money management is a must step, as

this

ensures their ability

of

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apply

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plan to their household

expenses

and

help

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helps

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them to save up for their

future

.