IELTS Essay # Is saving more important than spending ?
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
You should spend about 40 minutes on this task. Write at least 250 words.
With the world in such economic chaos, many of us face difficult choices in managing our money. Personally, I prefer savings to high spending and I will give my reasons in the following paragraphs.
Firstly, saving money is a sensible precaution in a world where the future is uncertain. It is possible that a person might meet unemployment, serious health issues or other financial crises at some point in life. Therefore, it is essential to have some money put aside for these situations. Certainly, saving is the only way most people can achieve this. Furthermore, I believe that saving is itself a useful discipline for one to develop, as it builds the skills of planning and reaching targets. We can see that in this way disciplined people build up quite large sums through small monthly contributions. In many cases this money meets important objectives in their lives, including large purchases such as cars or property.
Finally, when there is an imbalance between savings and spending of the people, the whole world is indirectly affected. The economic downturn of 2008 was a result of this negligence. The crisis was caused by over spending and not enough savings. Individuals, Multi National corporations and even governments too are to be blamed for this financial turmoil. I feel that an emphasis on sensible saving should be a universal strategy to avoid the recurrence of such events in the near future.
I do appreciate the fact that some people think differently, saying that it is better to live for the moment and spend accordingly. While some daily spending is essential, of course, I feel this is a potentially unwise viewpoint, especially considering recent global events.
To conclude, I believe that saving is the wiser choice, not just for financial but also for personal and political reasons. Sensible saving is an invaluable skill and a help against uncertainty.(311)