If you want proof, all you need to do is look at this report from Bankrate. I get that concept, I really do. As someone who worked in the mortuary industry for years , I admit I can see both arguments clearly. On one hand, people die early more often than one might think.
Young parents meet their end in car wrecks while their children are still young. New retirees drop dead the day after their last day at work. People die of cancer, heart disease, or worse.
Should we really worry ourselves over something as unimportant as money? Funerals that turned into cremations when families realize that no one had any money to spare — including the deceased. Not to mention the astounding number of senior citizens who live years, or even decades, in poverty. Further, Picture yourself subsisting on Social Security and Social Security alone.
Then envision what it might feel like to cower under the weight of tens of thousands of dollars of debt in old age. So, by all means, live for today. Other people spend the money for their leisure, which helps them to relax and go back to work with enough energy. In the old days, it is said that people who save money in a bank understand the philosophy of thrift. Actually, economists say that in the modern world saving money in bank is the quickest way to lose it.
Moreover none of the rich people became rich by getting interest from the bank. Living in a constantly changing world, we should adjust ourselves to accept the new ways of investing our money to different areas in order to get the most of it. That is probably the reason why most of the people nowadays put their money into business to get a better payback.
If nobody has the needs to buy stuff from other and the market, nobody will think about how to produce useful products and sell them to make the most profits. Some countries continue to lower the interest in order to force people to spend their money and therefore benefit the society as well as the people themselves.
In this broad view, I prefer spending money rather than saving them. In conclusion, I prefer spending money because it benefits ourselves as well as people around us. Nevertheless, spending money is still the best way to make our lives enjoyable and worthwhile. On the other hand, people with low income, saving money seems to be like a challenge. They have make difficult decisions about what they spend money for and how they cut out daily expenses at least wherever possible.
To do that, besides reducing monthly energy bills, they should make a planning for daily goods. They must plan their meals and make a shopping list. This usually help them to take less time than the time they spent going back to the store for forgotten items. Before going to department store, they should check kitchen cabinets and refrigerator, then making a weekly menu of favourite dishes.
When shopping, they just shop only once a week because the more trips to the store, the more money they will spend.Young people, who have very little worldliness, are prone to spending their money on products that are mostly useless and which they quickly tire of. However, in my opinion, excessive spending's for unnecessary things make situation more worst not only in future but also present. I have a history of making right-now choices, for better or worse. Picture yourself subsisting on Social Security and Social Security alone. As someone who worked in the mortuary industry for years , I admit I can see both arguments clearly.
As far as I am concerned, I vote for the former choice, which is that better for one to enjoy his or her money as soon as it is earned. If nobody has the needs to buy stuff from other and the market, nobody will think about how to produce useful products and sell them to make the most profits. Those trips not only help them to keep in shape but also provide them different kinds of knowledge and new perspective in looking at their environment.
People die of cancer, heart disease, or worse.
To reduce monthly payments, they must decrease the quantity of using energy at home. No one would deny that we all in pursuit of happiness. To illustrate in my life, during my college days, most of the inflating tuition fees payment done by the savings of my father when he was young. However, I am against spending money just for the sake of it. This requires one to save and spend in the right amounts.
My own experience is a compelling example of this. How to cite this page Choose cite format:. That's where your emergency fund can come in handy. At once, money saving behaviour would likely to have prosperous life now and in the forthcoming years and probably for the next generations.
And if you're working on growing your retirement savings alongside your emergency savings, consider scheduling automatic transfers to an Individual Retirement Account as well. I am a person who thinks material things the most important because I like commodities of famous brand, I like eating in expensive restaurants instead of snack bars, I want to travelling all over the world, things for which money is indispensable. Because with any luck, tomorrow will soon become right now. Essay Categories:.
Just like some people enjoy spending, there are also some people who enjoy saving. Holly imagines retiring on Social Security benefits alone as some kind of nightmare scenario. I get that concept, I really do. Do you spend money or save them?
They have make difficult decisions about what they spend money for and how they cut out daily expenses at least wherever possible. These days I am a lot more conservative when it comes to spending, and carefully consider all of my future expenses. So, by all means, live for today. In other words, even the future life is not predictable, many people suffering from the financial dilemma in some stages of life. But what if there is no gap to begin with? Later, when I enrolled in university, I did not have enough savings to pay for my tuition, and was forced to take out a significant number of student loans.
Wealth is living your ideal life on a daily basis. Sample Essay Money concerns are a major cause of stress and anxiety in the modern world. For instance, many students would have struggling for study materials and resources by the reckless expenditure of their parents.
There is no harm in enjoying life by going on a holiday or buying latest fashion clothes or accessories. Have fun.
And, when calculating your expenditures, be sure to consider both fixed and variable expenses so you know exactly how much to set aside for emergency savings. In my opinion, it is a really wise idea to save money for the future. By Jeremy Vohwinkle Updated November 28, The ability to save money is the cornerstone of building wealth. There is no harm in enjoying life by going on a holiday or buying latest fashion clothes or accessories.