Having a stable income is everyone’s goal. Where to spend this hard-earned money, however, is a question everybody asks themselves. Some think that this should be spent on shopping sprees while others would rather save for future purposes.
Some individuals see their income as a reward for their hard work. It is the prospect of rewarding oneself after numerous days spent grinding that entices people to work more in order to reward themselves more. In addition, a lot of people did not have money growing up. Having their own salary gives them more financial freedom. They choose to splurge on things they never got to afford before. To illustrate, people from poverty-stricken families usually aim to spend their money on luxury brands or necessities they were not able to expose themselves to before. This is their way to compensate for everything they missed out on in the past.
On the other hand, saving up is a smart move. Anything can happen and sometimes the money on hand is just not enough. These extra funds can be used for housing, buying a car, or emergency purposes. Additionally, spending all money in one place is unwise. Setting aside a chunk of one’s salary is a sure way to have funds for rainy days. Unexpected repairs for the house or even hospital bills do not come cheap. For example, there might be unexpected circumstances that come up, requiring more money than they have. Having saved up money lessens the chance of having to file for a loan which is also more financially responsible in the long run.
In conclusion, hard-earned money should be spent wisely. Giving oneself a reward or two can never hurt and it is a chance to experience things they have missed out on. However, it is also beneficial to save up for a new house or even just for emergencies. I believe that responsible budgeting is the way to go. A specific amount should be set aside for personal wants while another must be set aside for future plans.
Having
a stable income is everyone’s goal. Where to spend this
hard
-earned
money
,
however
, is a question everybody asks themselves.
Some
think
that this should
be spent
on shopping sprees while others would
rather
save for future purposes.
Some
individuals
see
their income as a reward for their
hard
work. It is the prospect of rewarding oneself after numerous days spent grinding that entices
people
to work more in order to reward themselves more.
In addition
,
a lot of
people
did not have
money
growing up.
Having
their
own
salary gives them more financial freedom. They choose to splurge on things they never
got
to afford
before
. To illustrate,
people
from poverty-stricken families
usually
aim to spend their
money
on luxury brands or necessities they were not able to expose themselves to
before
. This is their way to compensate for everything they missed out on in the past.
On the other hand
, saving up is a smart
move
. Anything can happen and
sometimes
the
money
on hand is
just
not
enough
. These extra funds can be
used
for housing, buying a car, or emergency purposes.
Additionally
, spending all
money
in one place is unwise. Setting aside a chunk of one’s salary is a sure way to have funds for rainy days. Unexpected repairs for the
house
or even hospital bills do not
come
cheap
.
For example
, there might
be unexpected
circumstances that
come
up, requiring more
money
than they have.
Having
saved up
money
lessens the chance of
having
to file for a loan which is
also
more
financially
responsible in the long run.
In conclusion
,
hard
-earned
money
should
be spent
wisely
. Giving oneself a reward or two can never hurt and it is a chance to experience things they have missed out on.
However
, it is
also
beneficial to save up for a new
house
or even
just
for emergencies. I believe that responsible budgeting is the way to go. A specific amount should
be set
aside for personal wants while another
must
be set
aside for future plans.