It is better to save money than to spend it. How far do you agree with this statement? Is saving more important than spending in today’s world? Give reasons for your answer, and provide ideas and examples from your own experience. You should write at least 250 words

It is better to save money than to spend it. How far do you agree with this statement? Is saving more important than spending in today’s world? Give reasons for your answer, and provide ideas and examples from your own experience. You should write at least 250 words

A majority believe in saving a lion’s share of their earnings rather than spending it, but there are those who deny this fact and preach consuming it. In my opinion, having reserves is important for future needs, but  nonetheless performing some expenditures is also necessary for enjoying life.

Having more in the form of savings is crucial as this can have a profound impact on the present and the future. For example, with every passing year, inflation is rising and prices are spiraling, making it imperative to create a buffer to cushion for increased cost of living later. Also, Illness is another factor that requires a huge amount of money, as medical facilities are getting expensive day by day and affording them is becoming a luxury for many. Thus, keeping aside something for the rainy day has become the need of the hour as it can render financial stability and assurance of a secure future. This practice and thought has  dominated society since ages, and people have yielded rich benefits.  

However, some are skeptical of the former approach, and profess following a lifestyle which is more relaxed, that entails spending a greater ratio than conserving money. This way of living is more concerned with enjoying life in the present and improving its quality. Such people are wedded to the thought that they have all the privilege to enjoy the exploits of their hard work. Moreover, since  the future is uncertain, there is little rationale to worry about the later years and sacrifice today for tomorrow. 

To conclude, both approaches toward life have their pros and cons, but savings is more crucial for a better and safer future than spending huge amounts on things that will bring no value and contribute towards an unstable future.