some people think the money they earn should be enjoyed by spending it now, while others think their earnings should be saved for the future. Discuss both views and give your opinion.
Money management has always been a hot topic for debate. Some people believe that they should enjoy the present time by spending the earned money, however, others disagree and argue that income should be kept aside for the future. Both the views are discussed in this essay and an opinion is given on top of that.
Many people, especially the young generation, follow a mindset of celebrating the current time. They justifiably claim that whatever they are earning in a month should be spent straight away for enjoyment as they are going to earn more soon. Additionally, they believe that their future is, however, unpredictable then there is no point to save the salary. For example, a university in the United Kingdom conducted a survey which states that people tend to spend half of the earnings of the month on celebrations. Thus, many people are of the opinion to enjoy by flowing out the money from their account.
Conversely, many think that savings serve as a real brother in bad times. They strongly recommend putting some part of the income aside for a better tomorrow. As the world is full of uncertainties, according to them, one can anytime witness layoff from the job or natural calamities such as earthquakes. In these undesirable situations, the savings can be utilized for multiple purposes. Additionally, they would be able to help some in need rather than just partying. To illustrate this, India was hardly affected by the crisis of the year 2008 because citizens there believe in savings which not only helped them but also kept the country’s economy alive. Hence, these people trust in saving their earnings for the future.
To conclude, in my view, a midway should be practiced where people can save some amount of their income and spend a little to enjoy. In this way, they can celebrate the present by securing the future at the same time.