Cambridge IELTS 19 Test 3 Writing Task 2: Sample Answer

Living for the moment is an attractive idea, particularly for people in their teens and twenties, but I largely agree that everybody should save for the future. Young people in particular have the most to gain from starting early, although saving should not come at the expense of all enjoyment.

The main reason for saving is that life is unpredictable. A sudden illness, redundancy or major repair bill can push a household into debt within weeks, and those with a financial cushion are far better able to cope. Savings also give people freedom. Someone with a few months of expenses in the bank can leave a job they dislike, retrain for a new career or take a calculated risk such as starting a business, whereas a person living from one pay cheque to the next has little choice.

Young people benefit most because of compound interest. A small monthly deposit made at the age of twenty can grow into a substantial sum by retirement, while the same amount saved at forty will never catch up. Equally important, early saving builds habits of discipline and planning. A teenager who learns to put aside part of a part-time wage is less likely to rely on credit cards and impulse buying as an adult. Many schools now teach basic financial literacy for exactly this reason.

That said, the statement should not be taken to extremes. Some people earn so little that setting money aside is unrealistic, and young adults may reasonably spend on education, travel or experiences that enrich their lives and increase their future earning power. Governments and employers can help by offering tax-free savings accounts and pension schemes that make saving automatic.

In conclusion, saving is a sensible habit that provides security and opportunity, and it is wise to begin as young as possible. It should, however, be balanced against present needs and personal circumstances.