Band 8 Essay Sample | Should People Spend Their Money Or Save It?

This is a band 8 IELTS essay sample submitted by one of our students. Send us your writing samples for a free band score estimate or get a detailed analysis of your writing for a fee.

Some people think the money they earn should be enjoyed by spending it now, while other thinks that their earnings should be saved for future. Discuss both views and give your opinion.


Band 8 IELTS Essay Sample

How people spend their money is very much their personal choice. Some people believe that they should save for the future; others insist that they should spend their money to enjoy a better life. In my point of view, saving money is an absolute necessity, but it shouldn’t be achieved at the cost of limiting basic needs and recreational activities.

On the one hand, it’s extremely important for people to understand their needs and wants. Irrespective of age and gender, each individual has their own desires to fulfill. People these days are working hard to get more money so that they can live in a bigger house and drive a more comfortable car. A recent study in the US revealed that middle class people spend more money on traveling than on rentals or loans. It is interesting to know that families with kids want to travel around the world to experience difficult cultures. One has to spend money to fulfill these desires.

On the other hand, it’s equally important to curtail one’s spending. It is not uncommon for rich people to spend inordinate amounts of money on luxury goods and an extravagant lifestyle. Unfortunately, excessive spending can land people in trouble. A person’s financial situation can change any time. A sudden illness or job loss can land anyone in deep financial trouble. I myself have seen many old couples forced to live on government assistance. They used to earn well but because of their excessive spending habits they could not save anything for their twilight years.

To conclude, it is evident that in order to live comfortably throughout one’s life, it is important to spend and save money wisely.

Related posts:

  1. Band 9 Essay Sample | Should We Spend Money Or Save It For Future?
  2. Band 9 Essay Sample | People Should Spend Their Money to Enjoy Life
  3. Band 7 essay sample: People spend a lot of money on celebrations. Is this justified?
  4. IELTS sample essay: people now spend a lot of money on their wedding
  5. Band 7.5 essay about children spending money instead of saving it
  6. IELTS essay: Parents should teach children about money
  7. Band 6.5 Essay Sample | Does Money Bring Happiness?
  8. IELTS essay sample | Should the governments spend a lot of money on developing internet infrastructure?
  9. Sample essay: does money bring happiness?
  10. Band 8 IELTS Essay Sample | Young People Do Not Know How To Manage Their Money

Manjusha Nambiar

Hi, I'm Manjusha. This is my blog where I give IELTS preparation tips.

Leave a Reply

Your email address will not be published. Required fields are marked *