It is infinitely better to save money for the future, than to use it up instantly. You will use up all your money much more quickly once you spend what you earn. Saving money on the other hand, guides you to have an economically sustainable life. It also means that you have more options in what you could do with that money later on.
Firstly, when you earn money should save it, because if you do not, you will immediately end up with empty pockets. For example, let us think about a child who has just earned 50 Cents from mowing the lawn. He can end up with a bar of chocolate and no money. If he, however, saves that 50 Cents until he has about 10$ then he can buy a chocolate and still end up with 9$ 50. Indeed, it may take time and patience, but saving is worth it.
On the other hand, saving money leads you to have a financially sustainable life. Emergencies are lurking around in every corner. For instance, a thief can unexpectedly rob your house. If you had saved some money before, you can use this up as the back-up plan. Unfortunately, if you had spent everything you had earned, then you can economically suffer a lot more.
In addition, saving money means you have a wider variety in what you could do with it in the future. With a dollar, there is not much you can do with it. If you save a dollar every day, though, the situation is utterly different. You have more choices in what you could purchase few weeks later.
Overall, it is wiser to save money than to spend it right after earning it. For one, you will soon end up with nothing if you use money right away. Saving however, ensures that you can prepare for whatever (money consuming) that could happen to you. Saving also means you have a broader range of choices in what to buy with that money. Given these reasons, everyone should have a piggy bank if not a bank account! |