It is essential for every individual, including youths, to set aside a portion of earning for rainy days. I agree with this statement since money plays in a big role in everyone’s life and it is very noticeable to the impact of saving money in real life.
On the other hand, if people do not save money, they can risk to being in debt due to unsystematic financial management. For example, if an employee does not set aside a portion of his salary, he or she would encounter with difficulties when there is an emergency case. As a result, he would need to borrow a large amount of money from someone leading to him in a debt circle. Finally, he or she would have some mental and physical problems due to stress along with other physical injuries.
On the other hand, there are several advantages when a person saves money. First and foremost, for older people, they could use for their emergency cases, such as health issues. Today, the costs of medical checkups are expensive, and therefore, saving money would help to escape from suffering intense illness in the future. Secondly, for younger people, saving money can be invested in future business plan. Consequently, their parents may proud of their children performance, as their children would not necessary to ask for money like a teenager.
In conclusion, saving money for future is a good habit for everyone as since it is beneficial to any age, including older people and younger people, for their life insurance and business investments.