With the world in such economic turmoil, many of us face difficult choices in managing our
money. Personally, I feel that saving is preferable to high spending, and I will explain why.
Firstly, saving money is a sensible precaution in a world where the future is uncertain. It is
possible, for example, that a person might meet unemployment, ill health or other crises at some point
in life. It is essential to have some funds in reserve for these situations, and saving is for most people
the only way to achieve this. Furthermore, I believe that saving is itself a good discipline for people to develop, as it builds skills of planning and reaching targets. We can see this in the way that
disciplined people build up quite large sums through small monthly contributions to savings plans. In
many cases this meets important objectives in their lives, including large purchases such as cars or
property. Finally, we have to remember the reasons for the current economic problems besetting the
world. The crisis was caused by excessive spending and insufficient saving – not just by individuals,
but by corporations and even governments themselves. I feel that an emphasis on sensible saving
should be a universal strategy now.
I do appreciate that some people think differently, saying that it is better to live for the moment
and spend accordingly. While some daily spending is essential, of course, I feel this is a potentially
unwise viewpoint, especially considering recent global events.
To conclude, I believe that saving is the wiser course, not just for financial but also for
personal and political reasons. Sensible saving is an invaluable skill and a buffer against uncertainty