It is claimed that an essential quality for people of all ages is the ability to keep money in reserve for later use. This is particularly relevant for the young. I strongly agree with the statement.
To commence with, the more savings has been stored, the more comfortable retirement will be. In combination with unability to work at that age, pensions often do not provide enough money for all your wishes and unexpected expenditures. Therefore, it is crucial to have some saved sum of money for convenient time being. For instance, it is the widespread tendency that the elderly who is left alone frequently take loans because of lack of money. Additionally, everyone wants to leave a heritage for the descendants.
Moreover, either the young need to save up money for diverse reasons such as applying to colleges or universities. They have to take into account all posibble situations: when they could not get a grant; or they have won it, but there are still fees, transport and accomodation spendings. For example, the students from CIS countries who get full-foundion in USA universitiies still can need extra fundings in order to be able to live in USA, whose prices are relatively high for the students.
Besides, buying personal vehicle or house at age of 18 is common dream among young people.
To conclude, keeping some part of the money untouched is significant for both old and young community.