A lot of people nowadays are spending too much money, and they don’t save anything for future use. Is this a positive or a negative development?

Sample 1:

In this period of modernity, many people do not have financial discipline as they are spending huge amounts of money rather than saving for future needs. As a result, they are landing in problems at a later stage. My opinion, I strongly agree that this is a negative development, and my opinion will be discussed in my further paragraphs along with a sensible conclusion.

Supporting my agreement with the given statement, I firmly believe that people's earning capacity will decline with their age hence they should plan their savings when they are earning well. For instance, a survey conducted in Hong Kong revealed that most elderly people depend on their retirement benefits for their minimum needs. Moreover, due to the recession, we never know when we are going to lose our job so we should have a proper bank balance to lead a quality life during that tough situation.

Explaining some of the other points in favour of this statement, it is true that sufficient money is required to aim high and achieve something in life. For example, if we do not have a sufficient budget, we may not be able to join our loved ones in the best schools. Furthermore, the younger generation tends to spend too much on unnecessary things such as expensive gadgets, bikes and many more, which is not a good sign. As a result, they may get into a financial crisis.

In conclusion, I would like to say that the current spending trend is a negative development, one should spend money wisely to lead a quality life. I believe that the aforementioned points strongly support my viewpoint.

Sample 2:

Finishing up all the salary or keeping it for the needy day are the two options that people have had since the beginning. Apparently, the former possesses more advocates than the latter recently. There are several justifications for this phenomenon. And for each reason, the extent of positivity will be discussed in this article.

In fact, individuals used to save money for some objectives they would consider doing in the future. For example, they put aside some expenses for obtaining a house or car they wished for. However, nowadays many banks offer the public some huge loans which they cannot resist. As a result, they do not have to save up for the upcoming days, but also, they are obliged to pay the instalments of what they have already bought. This situation may be considered positive according to the majority because they believe the folk do not need to wait for years to get to their aims.

Another reason behind this using up the income would stem from inflation. For instance, a nation may have come up with the conclusion that everything they want to purchase will be pricier tomorrow. Consequently, they are frustrated with trying and not achieving their goals, which is the case in my country. In addition, some parts of society have concluded that saving up is another meaning of wasting money, due to the fact that our money value is decreasing day by day. Of course, this cannot be assumed as a beneficial development of a society.

In conclusion, exhausting all the people's bank accounts might root in distinct issues. The level this would be called a forward step for a community, depends very much on its cause. Moreover, the circumstance seems very much different from one culture to another.

Sample 3:

It is believed that most individuals have high expenditures as per their income source and as a result these people don't have any saved money. The high inflation rate and the way of living are the main causes for no saving. As I think it leads to negative development since we just live in present without caring about the future.

First, the rate of inflation is one of the most important reasons which leads to zero balance. This is a problem, which is regulated by the government, as it can be seen that every essential product has a high cost due to numerous taxes applied on it. Even if anyhow people manage to purchase these products, then they have to think about their accommodation, electricity and wifi, which becomes an integral part of the human. For example, In the year 2020, I have purchased a car and anyhow paid the loan of the car each month, but the high cost of fuel compelled me to take debt from my friend to maintain life. So, the rate of inflation disturbs the balance of expenditure and saving.

Secondly, maintaining a high living standard to create a false impression in society is the second significant reason that leads to high spending of money. Nowadays, people prefer to purchase branded clothes, gadgets, and luxurious cars and believe in visiting a prestigious hotel for dinner and lunch that needs a huge part of their income. For instance, one of my friends always talks about the price and he is extravagant never compromising with his living standard and in reality, he is always in debt. Therefore, people must think about their overall life.

To conclude, I believe that people must do monthly analysis about their expenditure and saving and should be conscious about the future, since no one knows what will happen next time.

Sample 4:

Currently, the phenomenon of developing a tendency towards expending money rather than saving has given rise to heated debate. This trend, from my perspective, can be considered a negative trend due to the following reasons.

Some compelling reasons can explain why not keeping some wealth in the reserves can cause some damage to humans. In the first place, we lead a hectic lifestyle in which challenging several unprecedented financial issues is far more likely to be inevitable. Specifically, just via falling back to your savings your financial wherewithal to deal with such monetary predicaments will be guaranteed. In the second place, people will suffer the consequences incurred to their life as a result of a lack of financial capability in their dotage just due to the fact that they are not tactful enough in keeping some cash in reserves. Essentially, in an organic family, earning a livelihood would be problematic when people step into their old age and their household expenditures will increase just owing to the fact that they should be welcoming more than before as a result of regular family reunions in which they have no alternative but to expend to make their children happy. Last but not least, savings as a cushion have a vital role in fulfilling your dreams and plans for the future. To drive my message home, I can give a matter of immigration as an example in which expenditures will cost you an arm and a leg when it comes to rendering financial compliance for the immigration office or catering to the basic needs for affording a rental house or living on your savings until you get hired.

Admittedly, being at liberty to spend your cash on what you are desired at the time without concerns about the future offers a redeeming feature such as the fact that you can enjoy yourself and your spending with the utmost freedom will be yielded in such a way that there would be no room to harbour regret in your mind. Despite that, some opinion polls indicate that such force major periods like the viral outbreak of Covid-19 put some people in trouble because of abandoning the thought of putting their salary into the banks to save for rainy days.

In conclusion, squirrelling away and striking a balance between saving and spending and refraining from going on spending sprees bring relief, comfort, and convenience to your life compared to applying the avenue of expending your income perfunctorily.