It is important for everyone, including young people, to save money for their future. To what extent do you agree or disagree with this statement?
Money
is crucial, and learning how to manage it is an essential lesson for everyone. Saving money
is one efficient way to keep financial health. Therefore
, I partly agree that people
need to save money
even when they are young.
On the one hand, saving money
for emergencies is rational, since life
is always unpredictable. A sufficient savings account may assist people
in overcoming many adversities, such
as accidents, illness, or unemployment. For example
, during the pandemic in 2019, people
who did not save money
before would have a harder life
than people
did, because they lost or reduced income sources, but had insufficient money
to deal with that accident. Furthermore
, saving money
could be vital for young generations who want to get an education and achieve their goals, that's the reason young people
need to save money
earlier. Many ambitious youngsters pursue get advanced education in college for bright prospects, but the tuition in top universities is generally expensive. So, saving money
at an early age is a solution.
However
, saving money
is not always the most efficient way to make life
easier from a professional prospect of finance. First of all, savings accounts in banks merely offer a minimum interest rate, in comparison to the inflation rate and economic growth, which means people
are losing their money
gradually in savings accounts. Secondly
, as a cautionary asset manager, it is necessary to weigh the returns and risks from saving money
against the potential rewards that the same amount of money
could bring back, so-called opportunity costs. More particularly, people
should consider whether should they save their money
in a bank account or invest it in the stock market, since if people
wish to collect wealth for their future, the stock market usually would offer better returns depending on its historical performance.
In conclusion, saving money
is a fundamental skill for everyone, which would enhance life
quality. However
, people
are also
obligated to acquire more financial knowledge for managing assets, since saving is not the best method sometimes.Submitted by Timothy on
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coherence cohesion
Ensure all sections in your essay are well-developed, further elaborate on certain ideas to enhance depth.
task achievement
Avoid overloading some paragraphs with too much information about different ideas; focus on expanding just a few key points.
coherence cohesion
You presented a clear introduction and conclusion that encapsulate your viewpoint well.
task achievement
You provided a balanced view with reasonable arguments on both sides, which helps to maintain argument validity.