Is Saving Money Really That Important?

1657 Words7 Pages
: There are many attitudes that can be applied toward money, but they all generally lead to two common conclusions. These two most common conclusions are either to spend the money or to save it. The two attitudes that are most relevant to discuss whether money should be saved or spent. There are two common sayings, and each supports one of the two attitudes. When referring to money, the first saying tells us to “save it for a rainy day.” The other saying, which is more lavish in its nature, encourages us to spend money by saying that we should “live it up.” The major advantage to saving money is that it provides us with security. We always think that money in the bank will help us out during harsh times in life. Saving money is also a way of planning ahead. Most people keep a certain goal in life when saving money. If one does not “save it for a rainy day” but instead decides to “live it up” and spend all their money then they are more likely to face financial difficulties in the future. In this way, people who spend more than save do not take the opportunity to plan ahead for the future. You need not have to scrounge up the money to pay the bills and to pay back debts since you have a surplus. Furthermore, if you are able to accumulate a substantial sum in the bank, you could even live off the interest that your money generates. You would not have to worry about where to get the money to pay the bills. Security would ensure that you have enough to pay the rent or mortgage. It would also ensure that you have enough to pay for food and utility bills. You may even be able to afford extras such as a car and a cell phone. This would also allow for life's simple luxuries such as travel or vacationing. However, there are also some disadvantages to saving money. People who save money excessively and do not spend enough become known as misers. Even if they are

More about Is Saving Money Really That Important?

Open Document