The Importance of Saving Money for the Future
IELTS Writing Task 2
Response:
There is an opinion asserting that individuals, particularly youngsters, should save money for their future life. I completely agree with the given statement on the basis of several compelling reasons.
Saving money is important for individuals, as it may be required in unexpected occasions in life. To begin with, the money which has been gradually saved over several years, may be consumed to provide financial venue for times of need. That is, unexpected life events requiring immediate access to a sufficient financial supply are possible to happen in everyone’s life. An example of this is road traffic accidents, in which individuals may encounter severe personal or vehicle damages necessitating a great deal of expenditure to repair their damaged vehicles or provide medical care. Having an adequate amount of saved money, individuals might be able to overcome these challenges with less long-term repercussions.
Another reason justifying the idea of saving money by individuals, particularly the young population, is that this approach is fundamental to achieving personal and professional goals. Continuing education at advanced academic levels usually requires a sophisticated financial support to facilitate buying educational materials, such as books, and ensure appropriate accommodation facilities. It is further highlighted by the fact that many college students are not allowed to participate in temporary off-campus work to earn money. Therefore,when individuals save their money over a period of years, they may use this saving to cover their life expenses during education. Moreover, some careers such as business, require an ongoing means of finance to ensure stability and success. If people are encouraged to save their money from the beginning of their career, they will be able to develop their business corporation and make significant profits through investing a portion of their saved money in various venues. This would facilitate the overall growth of their company.
In conclusion, individuals particularly young people should be motivated to save their money for future life events. It is my firm conviction that personal and professional development requires a sufficient amount of money, which is possibly maintained from the saved amount of money over several years. Additionally, having adequate financial savings provides support for individuals in cases of unforessen life situations, such as accidents.