It is often argued that saving money is essential for all even for the youth for their future. I absolutely agree with the statement and this essay will explain the reasons for the same in the upcoming paragraphs with revelant examples.
Firstly, the pay cheque that youngsters get at the end of the month with their job if that income is after paying all for all the neccesary expenses , whatever amount is remaining and is invested in something useful it can contribute to multiplication of wealth overtime . Take a case in point, a young guy gets a salary of $20,000 , he has to spend this sum of money to all the utilities, rent and the insurance and the disposable income whichever is left can be invested in stocks. If the company is successful his income is multiplied.
In addition to this, saving our riches can result in purchasing many luxuries and also assistance in dire situations. For instance, There was a survey that was conducted by IMF where it asked 50 participants that did they save their monthly income . 25% of them said that they kept a portion of it aside and did not spend a dime apart from essential needs whereas the other 25% stated that they did spend most of their renumeration and bought many expensive bags and luxurious goods. Now these individuals when they fall ill, due to their spending habits they will suffer a lot since they do not have the money to afford the medical treatment.
To conclude, saving money is very important for the younger generations and if it is done properly it can lead to lead to larger growth of wealth and gives strength to buy the items of our choice also save from misery.