If I did not include proper spaces before and after the anchor tag, my link would be bunched up:
example textlinkexample text.
Here is the same example with proper spacing before and after the anchor tag:
example text link example text.
And one more example, here is the anchor tag with the spacing by the text label inside the anchor tag:
example text link example text.
See how the underline of the link extends to the spaces? That looks funny, so it is best to keep the spaces outside the anchor tag.
[Please view the source code on this page to really see the examples.]