Many people believe that they should spend their money to enjoy life at present. Others, however, think that they should save it for the future. Discuss both views and give your own opinion.

Many people believe that they should spend their money to enjoy life at present. Others, however, think that they should save it for the future. Discuss both views and give your own opinion.

 

Ielts Essay - Spending or Saving Money?

“To be thrifty or to be prodigal”, has been an eternal dilemma for humans. People with disparate opinions have always lived at poles; each criticizing viewpoints of others, but is it really worth it to save money for days to come, or spend it to experience delights of life?    

Saving money for later has always been the first sermon a child receives from parents. This has several deeply embedded benefits: it makes people think prudently in every walk of life, and stay away from extravagancies. Such households always turn out to be quite judicious, and can bring around numerous benefits for the society as a whole too: an economy gets critical funds from investments made by way of long term savings.

Moreover, savings are a great way to secure future. Money put into reserves, or into some schemes that help preserve funds enables creation of a cushion for bad times, especially for coping up with emergencies, like illness, accidents, unemployment, etc.  Moreover, people habitual of setting aside some part out of their earnings can make use of savings to live life comfortably later.

However, many are averse to keeping aside financial resources for future consumption since there is a growing insecurity among people regarding their future. This can be attributed to uncertainty about the future due a stressful and a busy life where people have little time to fulfill their family obligations, so they spend extravagantly on every little occasion they get to celebrate. Moreover, as people grow old, they may be inflicted with some disease which may rob them of opportunities to enjoy, so they enjoy in the present.

Henceforth, I conclude, being thrifty is surely a good practice, but being a miser is something that should be avoided.