By: Khamidova. D and Omonjonova. M positive and negative development essay

Useful linking words

Many people prefer to spend money and not save it
Is this positive or negative development?
Some individuals favor to use up their cash rather than save it. Firstly, this essay will discuss the different causes of this practice and secondly, it will discuss how this is a negative development for people need to allow some money for future use.

On the one hand, there are many motives why people choose to spend all of their money. Spending can give a boost to your confidence because you know that you are capable of buying the things that you want with your own money. Others consider it as a way of relieving their stress as buying can give an immeasurable pleasure, plus some people would prefer to have a spontaneous life and that is why they don’t think about the future. For instance, a survey by the University of the Philippines in 2011 revealed that 90% of their correspondents would choose to spend all of their money rather than saving some of it for they believe that they only live once.

On the other hand, not saving your money has detrimental effects. People should learn how to save their money because we can’t predict the future. Saving money can help you become financially secure and provide a safety net in case of an emergency. You will need money set aside for these emergencies to avoid going into debt to pay for your necessities. For example, an article by the Business Mirror in 2014 stated that not having enough money to pay for a medical emergency might force someone into taking out a loan, that savings might have otherwise covered.

In conclusion, in my view people should prepare for the future. Saving some of your earnings can be beneficial for it can provide you a safety net in case of an emergency