It is Better to Save Money Than to Spend It- IELTS Writing Task 2

It is better to save money than to spend it. How far do you agree with this statement? Is saving more important than spending in today’s world?

Outline

Essay Type

Direct Question Essay

Introduction

Sentences 1&2 – Paraphrase the topic with the use of synonyms. Create a base understanding for the reader, something to expand on in the essay.

Sentence 3 – State that the essay will understand how saving is necessary, but not the final step.

Body Paragraphs

Paragraph 1 – Elucidate how saving is important, and how it impacts a person’s life. Quickly mention the next step, that is investing, and how investing often triumphs saving as a practice.

Paragraph 2 – Explain the difficulty in knowing which is better than the other, so talk about what happens when people start saving more, and then show a glimpse of what happens when carefree spending takes place.

Conclusion

Summarize the essay and restate your views.

Sample Essay

It is often preached that saving your money is much better than spending it. There are indications that partly agree with the sentence while adding onto the points cognate to it. This essay will focus on these two pointers.

Practicing financial discipline is a must if someone wants a carefree future. Saving is the initial step to financial discipline, but not the last one. Here, the 70-30 rule is often applied, which instructs one to save seventy to spend thirty out of the possible hundred bucks earned. Out of the seventy you keep, an individual must invest about fifty in order to grow substantial wealth. People feel that saving is necessary, but investing your money in mutual funds and equity is more important as it prepares you for the future. Nonetheless, saving is seen as the first step to investing. Hence one cannot deny its importance.

Saving and spending have their own perks and disadvantages, and one cannot be determined as better than the other. For instance, if people start saving more and more and curb their expenditure, the government will face a cash flow shortage, which will result in an upheaval of its citizens. On the other hand, careless spending can result in bankruptcy and debt.

So, there needs to be a delicate balance between saving and spending and a sense as to what to do when. It usually comes with experience, but one can educate himself in this scenario. Hence, one cannot ascertain which is better, but one can undoubtedly practice both spending and saving judiciously.

Vocabulary

• Preached 

Meaning – earnestly advocate.
Example – Many industrial leaders preach that persistence, dedication, and hardwork are the keys to success.

• Cognate 

Meaning – related; connected.
Example – The concept of heat and radiation is cognated to physics.

• Carefree  

Meaning – free from anxiety or responsibility.
Example – Ramesh lives a carefree life and travels around the world.

• Substantial 

Meaning – of considerable importance, size, or worth.
Example – He inherited substantial wealth from his father.

• Equity 

Meaning – the value of the shares issued by a company; ownership.
Example – Investing in equity gives dividends in the long run.

• Curb

Meaning – stop; cease.
Example – Since his diabetes was known, Ronnie has curbed his sugar intake completely.

• Expenditure

Meaning – the action of spending funds.
Example – Rajiv has increased his expenditure to renovate his home.

• Upheaval

Meaning – a violent or sudden change or disruption to something.
Example – There is a state of political upheaval in some states.

• Bankruptcy

Meaning – a legal proceeding involving a person or business that is unable to repay their outstanding debts.
Example – His company, unable to pay money to its lenders, is heading towards bankruptcy.

• Ascertain  

Meaning – find (something) out for certain; make sure of.
Example – Many people tried to ascertain the appropriate route to the summit of Mt. Everest before it was climbed.