Many people spend their money as they get it. What are the rea | Sirojiddin Malikov | IELTS EVEREST

Many people spend their money as they get it.
What are the reasons for this?
Do you think it is a positive or negative development?

It is true that people have a tendency to spend their money as soon as they receive money. The reasons for this are the financial illiteracy and impulsive behavior. In my opinion, this is a negative development for two reasons.

There are two main reasons why the majority of people tend to spend money soon after they obtain it. Firstly, the financial education is not a priority in many schools. Not having financial literacy, many people struggle to manage their money. Therefore, they end up spending it all. Secondly, many people buy things on impulse, meaning that they buy products or services without a second thought. When they receive money in the form of either salary or reward, they also look for ways to spend instead of saving it. These behaviors lead people to exhaust all of their money.

I firmly believe that people's tendency to spend their money just after they get it is disadvantageous for two sound reasons. One of them is that if they do not know how to spend money wisely, the chances are they will have troubles in the future. When the crunch comes, they are highly likely to struggle asking anyone they know to give them money. This is all caused by not knowing how to manage their finances. Another possible outcome of this behavior is that their children may also have problems with money. Children grow up learning from their parents, and if they see their parents spending money recklessly, they will follow in their footsteps.

In conclusion, many people spend all of their money, and this is caused by poor financial education and impulsiveness. I think this is a negative trend because of
the above-mentioned arguments.