A lot of people these days do not keep any savings and spend a lot of money. First, this essay will discuss the positive impacts. Then, it will shed a light on the negative impacts.
On one hand, many people like to spend more because almost everyone today thinks it is necessary to live in the moment rather than save for the future. Many psychologists thing this way of living is essential as it keeps a person stress free. One of the best examples of this situation is that public today loves to travel, the need to explore has expanded, they see it as a way to invest in themselves. For example, travel and leisure magazine 2018 wrote that atleast 50% people prefer travelling to stay tension free and 40% of these, love living in the moment and without worrying about the future.
On the other hand, there are many drawbacks of this. A large number of people think that saving is very important because that money can be used for any emergencies like health issues. Climate change is also affecting the life of lots of people, most of them think that you never know what the future holds and what impacts it has on lives, savings is one such solution that can help anybody, even the rich or the poor to get through any situation. A survey by times now India found that atleast 70%-80% people in India save money, while the rest 20% don’t. Same survey found that the 20% suffer more from problems.
In conclusion, spending has various impacts on the society and people have different opinions regarding it. In my view, it is necessary the save more and spend less because we never know what the future holds.
A lot of
people
these days do not
keep
any savings and spend
a lot of
money.
First
, this essay will discuss the
positive
impacts. Then, it will shed a light on the
negative
impacts.
On one hand,
many
people
like to spend more
because
almost everyone
today
thinks
it is necessary to
live
in the moment
rather
than save for the future.
Many
psychologists
thing this way of living is essential as it
keeps
a person
stress
free. One of the best examples of this situation is that public
today
loves
to travel, the need to explore has expanded, they
see
it as a way to invest in themselves.
For example
, travel and leisure magazine 2018 wrote that
atleast
50%
people
prefer travelling to stay tension free and 40% of these,
love
living
in the moment
and without worrying about the future.
On the other hand
, there are
many
drawbacks of this.
A large number of
people
think
that saving is
very
important
because
that money can be
used
for any emergencies like health issues. Climate
change
is
also
affecting the life of lots of
people
, most of them
think
that you never know what the future holds and what impacts it has on
lives
, savings is one such solution that can
help
anybody, even the rich or the poor to
get
through any situation. A survey by times
now
India found that
atleast
70%-80%
people
in India save money, while the rest 20% don’t. Same survey found that the 20% suffer more from problems.
In conclusion
, spending has various impacts on the society and
people
have
different
opinions regarding it. In my view, it is necessary the save more and spend less
because
we never know what the future holds.