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Spending Money – Band 7.5 Essay


Jun 5, 2020
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Some people think it is alright to spend money for their wants, such as a new car or the latest gadget. Others think it is better to save their money and only buy what they really need. Which opinion do you agree with and why? Give specific details and examples in your answer.

When shopping, one of the biggest problems consumers have is whether they should save money for a better product, or purchase on their impulse. As we all being a normal human, we cannot have everything and sometimes, we should choose to save, or to use. Of the two choices given, I personally agree with the opinion stating about keeping cash.

Firstly, when buying what you really want, you can have better and wiser choices. Just following the trend and buying goods every year, month or when a new collection arrives, there would be less time to think rationally, which would result in regrets. Additionally, these latest commodities are only popular because they are new. When time passes and fresh elements replace them, the item you bought will soon look old-fashioned, making you open your wallet to buy another modish object again. On the other hand, while sparing your budget for your materials, you might think if the object you're trying to purchase is "essential" in your life. While taking a long time gathering coins, you would realize what articles are worth buying and what are not, leading to better utilization of funds. For example, I saved my income so that I could buy a dress which I really longed for, but ever since my money was ready I started to think about whether spending my dollars on buying this fancy clothes was really worth it or not - and I bought a pretty pouch instead which was much more necessary. Thus, since you tried so hard, you obviously wouldn't want your piggy bank to be used unwisely, leading you to do more research on items that are "essential" with low cost.

Furthermore, buying what one longed for brings great pleasure and delight. Rather than just purchasing the latest product with little effort and less thinking, there are a higher percentage of the buyers regretting their choices. However, when lots of effort and thinking combines with lots of wealth, a person will really feel like they've been awarded for their hardships and that feeling of achievement will enable them to work and save even harder. My own experience is a very good example of this opinion. I got all A's in all subjects, and I gifted myself an expensive wallet, which I always dreamt and stored my budget for. This feeling of receiving was so good that it encouraged me to work even harder and try to get all A's in all exams. Therefore, after a long wait when one receives the desire - it is worth a lot more than winning a prize which would result in greater deal of motivation towards a better performance.

To conclude, due to the above mentioned reasons of overflowing joy and sagacious outcome, it is wise to say that saving yields better outcomes over impulsive buying.

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