Task 2:

It is important for everyone, including young people, to save for their future.  

To what extent do you agree or disagree with this statement?  

(Cambridge 19 Practice Test 3)

ANSWER

It is believed that everyone, including young people, should try to save money for their future. I completely disagree with this belief because money loses value quickly over time and saving money prevents the economic growth.  

Firstly, putting money away¹ in banks does not help people in the long run because money loses value rapidly as time goes by. Many governments print a significant of amount of money each year to boost the economy, and this results in wide-spread inflation. This means that the amount of money people have in their savings² this year might get them less³ service or buy them fewer products than it will the following year. For example, in Vietnam, the inflation rate has been recorded to fluctuate around 10% for the last few decades. For Vietnamese people, if they had about 30 million VND in their bank account in 2020, they could purchase a motorbike, but in 2021, the same amount was not enough as the motorbike price⁴ increased to 33 million due to the inflation.  

Secondly, when all people⁵ save money for their future, the economic growth is slowed down⁶. This happens because many people would refuse to spend on⁷ shopping and using⁸ services from other businesses so as to keep as much money in their bank accounts as possible. While savings make people feel safe, it can make it hard for businesses to make profit⁹ and gradually prevent¹⁰ the economic growth. Take Japan, for example, the Japanese are famous for their saving habits but¹¹ this has been reported to be one of the main reasons why their economic development has been stagnant for years. The Japanese average saving¹² has been higher than other countries in the world but their growth in GDP has stayed in the lowest group since the 2000s.  

In conclusion, many think that it is crucial for people of all ages to save money for their future. I completely disagree with this statement because money loses its value quickly and¹³ this slows down the economic growth.  

1. –> saving money ↩︎
2. saving accounts ↩︎
3. –>MORE
   Ý câu này là: tiền để tiết kiệm năm nay sẽ mua được nhiều đồ hơn so với để năm sau mua, đoạn này giải thích về inflation hơi bị rối trí nên mình viết lộn.
   Sai 1 ly đi một Band, đây là lý do vì sao bài này 7.5
   Nên cả câu phải sửa lại là: “The amount of money people have in their saving accounts this year may get them more services or products than it will the following year.”
   Writer’s notes: Dễ hiểu chưa các bạn, lý lẽ của kẻ không có saving 😀 ↩︎
4. —> these motorbike prices ↩︎
5. –> everybody (chỉ đơn giản là từ này thông dụng hơn) ↩︎
6. –> slows down
   tự nó chậm lại ↩︎
7. –> refuse to go shopping ↩︎
8. –> or use ↩︎
9. –> profits ↩︎
10. –> prevents ↩︎
11. thiếu dấu “,” giữa các mệnh đề. –> … habits, but …. ↩︎
12. –> average saving in Japan ↩︎
13. thiếu dấu “,”, tương tự note 11 ↩︎