IELTS WRITING TASK 2 _ Many people prefer to spend money not to save it. What are the reasons? Is this a positive or negative development?

In the prevailing scenario, the number of people is keen to live luxuries life. They usually purchase expensive gadgets and go to touristy for some adrenaline rush. They do not deposit their hard earned money in bank accounts. In next paragraphs, I will discuss the benefits and losses to those people.

Folks from all around the globe want to have materialistic possessions such as cars, mobiles. However, they want to enjoy every second of their life. Moreover, they spend their money on weekends in restaurants and night bars, which they earned on weekdays. In Australia, for instance, average expenses of dwellers are 2500 AUD on weekends, which is highest in the world. Consequently, they enjoy their life with full of enthusiasm. Moreover, they are challenging life with their exciting task on tourists places. Consequently,  they are more creative and risky people.

Conversely, there are some people who deposit their hard earned money in lockers and securing future of their children and family. On one odd day,  anyone can be stuck in an emergency such as expensive surgery. At that moment these savings help them to tackle the problem. Furthermore, by this money, they can pay expensive college fees of their siblings and children. In India, 95% folks save money to secure their future. Without having such saving we cannot fight with some severe and major problems. People without saving might feel listless while facing critical hassles.

To recapitulate, although, hard earned money can buy happiness for a while to secure these pleasures in life folks should save money gives the power to fight with some dilemmas