Putting aside money for the future is believed to be essential for everybody, including young people. I personally disagree with this statement for a reason that money could be better spent on investment.
People often save money by putting it in a piggy bank or a savings account. This method is very disadvantageous because unspent money kept in a bank usually does not generate much in interest. For instance, the US dollar has lost almost a quarter of its value since 2020 due to inflation, and the rates offered by even high-interest savings accounts are unlikely to be sufficient compensation for this loss in value. As a result, saving money using conventional methods can make one poorer over time.
On the other hand, investment could bring you considerable returns if you do it wisely. There are forms of investment that are very safe and can almost guarantee that you make significantly more money than you put in. Gold, for instance, has always seen an upward trend in its price for decades. Therefore, investing unused money in gold is a great way to counter inflation. Additionally, participating in the stock market could be largely profitable if you possess the know-how of a businessman. This form of investment, despite having certain risks, is very popular for the fact that it generates a lot of value.
Inconclusion, though saving money is thought to be a good thing due to it being a safety net for the future. However, I believe money should not be left unpent but rather invested to generate surplus.