It is important for everyone, including young people, to save money for their future. To what extent do you agree or disagree with this statement?

It is important for everyone, including young people, to save money for their future.

To what extent do you agree or disagree with this statement? 

IELTS Cambridge book 19 essay

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Sample essay 1:

It is widely believed that financial prudence is vital for individuals of all ages. I fully agree with this assertion, as saving money is essential for ensuring future security and enabling life opportunities, though it should be balanced with enjoying the present.

Focusing excessively on saving can sometimes lead to an imbalanced life where future security is prioritized at the expense of present enjoyment. In many countries, individuals start saving and planning for retirement from a young age. This often means that by the time they have accumulated sufficient funds to enjoy their lives, they are older, possibly unhealthy, and less capable of engaging in active pursuits. For instance, someone who consistently saves for a comfortable retirement by forgoing travel, social outings, and luxury spending may later find that a large savings account cannot compensate for a life that lacked experiences and enjoyment. However, such extreme saving practices are uncommon. Most people are capable of finding a balance between responsible saving and enjoying their earnings.

Moreover, saving money from an early age grants individuals the flexibility to pursue diverse passions throughout their lives. Those who lack inherited wealth and do not save diligently will likely need to work long hours for many years. In contrast, individuals who gradually accumulate savings can invest and create passive income streams, offering them various life choices. This financial freedom might allow them to reduce working hours, pursue passion projects, or embark on entrepreneurial ventures. Such opportunities lead to a richer, more varied life compared to a path solely focused on working towards retirement.

In conclusion, while there is a risk of overemphasizing saving at the expense of life’s immediate pleasures, prudent saving is undeniably valuable for everyone. A well-balanced approach to saving enables individuals to secure their future while also enjoying the present, resulting in a fulfilling and financially stable life.

Sample essay 2:

The importance of saving money for the future is a topic of significant debate. I strongly agree that everyone, including young people, should prioritize saving for their future. This practice not only ensures financial security but also provides a foundation for pursuing life opportunities and achieving long-term goals.

One of the primary reasons for saving money is to secure financial stability. Life is unpredictable, and unforeseen circumstances such as medical emergencies, job loss, or economic downturns can occur at any time. Having savings acts as a safety net, allowing individuals to navigate these challenges without experiencing severe financial hardship. For young people, developing the habit of saving early in life can lead to greater financial independence and confidence, reducing reliance on external support and debt.

Moreover, saving money enables individuals to make significant investments that can enhance their quality of life. For instance, buying a home, starting a business, or investing in education are all endeavors that require substantial financial resources. Young people who save diligently can accumulate the capital needed to pursue these opportunities, thereby securing their future and improving their socio-economic status. This financial foresight not only benefits individuals but also contributes to the broader economy by fostering entrepreneurship and innovation.

Additionally, the practice of saving inculcates valuable financial discipline. Young people who learn to manage their finances effectively are more likely to develop responsible spending habits and avoid the pitfalls of excessive debt. This financial literacy is crucial in today’s consumer-driven society, where the temptation to spend on non-essential items is ever-present. By prioritizing savings, individuals can strike a balance between enjoying their present and planning for their future, leading to a more fulfilling and secure life.

In conclusion, the practice of saving money is essential for everyone, including young people. It provides financial security, enables significant life investments, and fosters financial discipline. While it is important to enjoy life and make the most of the present, a balanced approach that includes saving for the future is undeniably beneficial. Therefore, I strongly advocate for the cultivation of saving habits from a young age to ensure a prosperous and secure future.