Although it is sometimes thought that spending money stimulates a country’s economy, other people consider that the focus should be on saving money. In my opinion, I believe that spending money is the best solution for a country’s economy to be flourished.
On the one hand, some people think that spending money will help a country’s economy to be leading and prosperous in the long run and I agree. Consumer spending can be considered the driving force behind an economy, where increased spending reflects the consumer’s confidence in a country’s economy. This confidence will entice people to buy more things as people buy things only because of the image of power, success, and glamour associated with them. Furthermore, new businesses will open to cope with increased consumer demand, which will result in creating more jobs opportunities as more businesses open. This can bring more economic advantages to society as a whole.
On the other hand, it is often believed that it is better for a country’s economy if the emphasis is on saving money. Because an increase in savings allows banks more flexibility in lending money for investment. This can help small companies to expand their projects and create more jobs to residents. Another reason why saving money is useful for a country’s economy because saving money for old age is essential and eases the strain on social welfare because old people without enough money will drain a country’s economy. Moreover, if spending is based on credit, it will result in too much debt. In other words, a country which has too much debt has more financial problems because the country is obligated to return this debt to the lenders, and this will put more strain on other sectors such as, healthcare, education, etc.
In conclusion, while people may vary in their opinion, I think that spending money can stimulate the economy by opening more businesses, which will result in creating more jobs.
Although it is
sometimes
thought
that
spending
money
stimulates a
country’s
economy
,
other
people
consider that the focus should be on
saving
money
. In my opinion, I believe that
spending
money
is the best solution for a
country’s
economy
to
be flourished
.
On the one hand,
some
people
think
that
spending
money
will
help
a
country’s
economy
to be leading and prosperous in the long run and I
agree
. Consumer
spending
can
be considered
the driving force behind an
economy
, where increased
spending
reflects the consumer’s confidence in a
country’s
economy
. This confidence will entice
people
to
buy
more things as
people
buy
things
only
because
of the image of power, success, and glamour associated with them.
Furthermore
, new businesses will open to cope with increased consumer demand, which will result in creating more jobs opportunities as more businesses open. This can bring more economic advantages to society as a whole.
On the
other
hand, it is
often
believed that it is better for a
country’s
economy
if the emphasis is on
saving
money
.
Because
an increase in
savings
allows
banks more flexibility in lending
money
for investment. This can
help
small
companies
to expand their projects and create more jobs to residents. Another reason why
saving
money
is useful for a
country’s
economy
because
saving
money
for
old
age is essential and
eases
the strain on social welfare
because
old
people
without
enough
money
will drain a
country’s
economy
.
Moreover
, if
spending
is based
on credit, it will result in too much debt. In
other
words, a
country
which has too much debt has more financial problems
because
the
country
is obligated
to return this debt to the lenders, and this will put more strain on
other
sectors such as, healthcare, education, etc.
In conclusion
, while
people
may vary in their opinion, I
think
that
spending
money
can stimulate the
economy
by opening more businesses, which will result in creating more jobs.