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

In an era shaped by economic uncertainty, rising living costs, and consumer-driven lifestyles, financial decision-making has become a crucial life skill. IELTS Writing (Academic) frequently includes money-related essays, such as ‘It is better to save money than to spend it’, to assess whether candidates can evaluate long-term responsibility against short-term gratification. 

This blog discusses the essay topic ‘It is better to save money than to spend it’, offers high-quality sample responses, and provides a strong vocabulary to help you confidently write your own essay.

Essay Question for ‘It is Better to Save Money than to Spend It’

Outline for IELTS Direct Question Essay

The outline provided will help you write IELTS direct question essays, ‘It is better to save money than to spend it’. Following this guide will improve your writing skills and assist you in achieving a band score of 7 or higher on the IELTS exam.

Sample Answers for It is Better to Save Money than to Spend It IELTS Writing Task 2

Here are three IELTS Band 9 essay samples on the topic of saving money versus spending it. You can use these examples to write your own essay and achieve a high writing band score.

It is Better to Save Money than to Spend It - Sample Answer 1

It is commonly believed that saving money is a wiser choice than spending it. In an era marked by financial uncertainty and rising living costs, this view has gained significant attention. I strongly agree that saving is generally more beneficial than spending and argue that it has become even more crucial in today’s economic climate.

To begin with, saving money is undoubtedly better than excessive spending because it provides financial security and long-term stability. Individuals who cultivate the habit of saving are better equipped to handle unforeseen circumstances such as medical emergencies, sudden unemployment, or urgent household repairs. For example, a person with sufficient savings can cope with unexpected expenses without falling into debt or relying on high-interest loans. In contrast, impulsive spending often leads to financial strain and limits one’s ability to prepare for the future.

Furthermore, saving money is more important today than ever before due to the rapidly changing economic environment. Factors such as inflation, job insecurity, and escalating healthcare and education costs have made financial planning essential. Many industries are experiencing instability as a result of technological advancement and global economic fluctuations, meaning that a steady income can no longer be taken for granted. In such circumstances, savings act as a financial buffer that protects individuals from economic shocks. While spending is unavoidable for daily necessities and contributes to economic growth, prioritising savings helps people avoid excessive dependence on credit cards and personal loans.

In conclusion, saving not only outweighs spending in terms of long-term benefits but is also increasingly important in the modern world. Therefore, maintaining financial discipline through regular saving is essential for achieving security, independence, and peace of mind.

It is Better to Save Money than to Spend It - Sample Answer 2

It is often debated whether saving money is more beneficial than spending it, or whether expenditure is equally important in modern society. While saving is undeniably essential for financial security, I partly agree with this view because spending also plays a vital role in both personal well-being and economic development.

To begin with, saving money is generally better than excessive spending, as it promotes financial discipline and long-term stability. Individuals who prioritise saving are more capable of managing their income responsibly and are less likely to fall into debt. For example, a person who sets aside a portion of their salary each month can cope more easily with unexpected expenses such as medical bills or urgent repairs. In addition, savings enable people to plan for future goals, including home ownership, higher education, or retirement, which impulsive spending can seriously undermine.

However, saving has become even more important in today’s economic context due to increasing financial uncertainty. Rising inflation, unstable job markets, and escalating living costs mean that relying solely on regular income is risky. At the same time, spending cannot be completely avoided, as it drives economic growth and supports employment. For instance, consumer spending sustains businesses and contributes to overall economic stability. Moreover, spending on areas such as education, healthcare, and personal development can enhance productivity and quality of life, making it a necessary complement to saving rather than its opposite.

In conclusion, although saving money is crucial for financial security and is arguably more important in the modern economic climate, spending also has significant value. Therefore, a balanced approach that combines sensible saving with purposeful spending is the most practical and sustainable way to manage personal finances.

It is Better to Save Money than to Spend It - Sample Answer 3

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 to Use for It is Better to Save Money than to Spend It - IELTS Writing Task 2

Below are some IELTS academic high-frequency vocabulary words related to the topic ‘It is better to save money than to spend it’ that will help you boost your overall vocabulary and showcase your lexical resources.

To conclude, financial topics like ‘It is better to save money than to spend it’ allow you to demonstrate practical reasoning and real-world awareness. A strong response balances ideas logically, uses topic-specific vocabulary, and maintains a clear stance, which will help you to achieve a Band 7 or higher. So, go through the recent IELTS writing topics with answers to improve your writing skills. 

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