Spend money or save money

Spend Money or Save Money
“Spend Money or Save Money
Money runs the world! At least the belief holds for most people in the world. As such,
deciding whether to spend it while it lasts or saves for a bad day is still a dilemma. While some
save due to uncertainties of the future, others are just too afraid to use it all. Contrary,
spendthrifts believe in living a day at a time. Such people spend their money as soon as they
obtain it for either family vacations or personal satisfaction.
Personally, money is a necessary evil. While saving is a good idea especially in meeting
future needs or advancing a career, spending the money adds happiness to life. Although money
has been defined as the root of all evil, having a financial plan is crucial in managing expenditure
and savings.
Economists, including the renowned Warren Buffet, retort that a savings plan is as good
as an expenses plan (Kirkham et al., 2017). In this way, one can quickly determine what portion
of the money to spend while saving some. However, one does not need to have expert skills in
financial planning to ascertain how well to manage their money. A simple outline of immediate
needs versus future expectations can be used to make a budget for money.
Indeed, spending or saving money depends on the income as well as nature of expenses.
Therefore, it varies from person to person, making budget an individualized task (Kirkham et al.,
2017). Enjoying life may require spending even when one intends to save, but moderation is
crucial for one to avoid risking the future for a weekend’s fun. That said; rationality is important
in deciding whether to save or spend hard-earned money.
Kirkham, E., Redmond, A., Woods, L., Mueller, L., Huddleston, C., & Branch, A. et al. (2017).
Warren Buffett’s Best Tips to Live by — Of All Time. GOBankingRates. Retrieved 25
August 2017, from https://www.gobankingrates.com/personal-finance/10-best-money-

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