While the majority of people believe that saving money in advance is very crucial for the future, I strongly agree with the view that this habit brings more advantages than facing financial crises without early savings by not building their wealth in their earlier ages. This essay will discuss the reasons for my position.
To begin with, one major reason is that individuals tend to save money in order to secure their future and invest wisely, such as raising kids, buying houses, or stocks. For instance, my parents had told me that I needed to save a portion of my income and allocate it into categories such as daily expenses and savings.(,) Since I need to plan for my future expenses, which depend on how much money I plan to spend. Moreover, without any savings it is hard to increase my deposit to purchase any investments since most investments require large capital.
Another reason is that unexpected health conditions in old age can cause financial strain. Therefore, consistent saving habits and healthcare insurance are seen as a precaution for serious illness and other unexpected emergencies. For example, my father had serious cancer seven years ago,(.) during his treatment period, we had to pay a large amount of money for his medicines, hospital private room, and medical treatments, which we could barely afford. Fortunately, my father had healthcare insurance to cover some proportions of medical fees. As a result, saving money is a vital preparation for tackling future difficulties.
In conclusion, while some people reckon that saving money is not necessary to their future, I believe that saving money is a more beneficial habit in the long run.