In most cases there is no difference. The only thing that matters is if you want to include back text after the extension. For example, suppose yours PATHcontains a string FOO(actually not a valid path, but this is an example), and you would like to create a string FOOBAR. If you did
$PATHBAR
You will get a variable extension with a name PATHBARthat is probably not the way you wanted. If you did
$PATH BAR
FOO BAR, , . :
${PATH}BAR
FOOBAR.