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?

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It is believed that financial reserves are essential for every individual, including youngsters. In my opinion, financial
management
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should be taught to
people
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. I will explain some reasons in
this
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essay that support my opinion. It is my view that saving
money
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plays an essential role in personal development, especially for young
people
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.
Firstly
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people
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should learn to save
money
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aside helps to enhance their financial
management
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ability.
People
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who save
money
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often gradually develop the mindset of spending and investing in smart ways which makes them better at financial
management
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and might avoid unnecessary expenses.
In addition
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, owning an amount of reserved
money
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allows them to have more freedom and confidence.
This
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is because financially independent individuals do not have to rely on anyone, so they can make their own choices and personal desires in
life
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.
In contrast
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, some
people
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claim that young
people
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should spend
money
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on their entertainment, travel, and hobbies. They firmly insist that
people
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should enjoy moments of
life
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and they deserve a luxurious
life
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. I do not find
this
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argument convincing as I think financial planning may be useful in many situations.
Hence
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, having an emergency fund is very helpful in urgent cases like being sick or supporting their family and friends.
Moreover
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, having financial stability is necessary for long-term goals in a person's
life
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, like studying abroad, purchasing variable items like a house or a car, or getting married and having children. So I think
people
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, especially juveniles, should manage their
money
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as they can spend
money
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on their leisure time, and simultaneously, they can save
money
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for the future.
For example
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,
according to
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an article published in England in 2020,
people
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who have been taught about financial
management
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will have a satisfying
life
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in the future. In conclusion, I completely agree with the importance of having a financial resource by saving
money
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for individuals. Because it is necessary for fulfilling their need and having a better
life
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in the future.
Furthermore
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, it can be a helpful source in emergencies
such
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as illness.
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coherence cohesion
Ensure that each paragraph has a clear topic sentence that directly relates to the question. This will improve clarity and help maintain focus on the main points.
task achievement
Consider elaborating more on specific examples or adding real-life scenarios to substantiate your arguments effectively.
coherence cohesion
The introduction and conclusion clearly outline and summarize your position, making your argument easy to follow.
task achievement
You provided relevant arguments and counterarguments which demonstrated your ability to address different perspectives.
Topic Vocabulary:
  • financial security
  • safety net
  • unforeseen circumstances
  • emergencies
  • future investments
  • retirement planning
  • financial discipline
  • habit of saving
  • amassing wealth
  • substantial fund
  • opportunity cost
  • additional income
  • inflation
  • purchasing power
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