Some people think that it is better for a country’s economy for people to spend money while others believe that it would be better for people to save money. Discuss both sides and give your opinion. v.5

The development of a nation hugely depends on the people living within. Some people opine that individuals expending money are profitable for the country’s financial state, whereas others believe that retaining funds are more beneficial for such growth. This essay will highlight both views in detail and explain why allocating funds ultimately aids in the emerging economy of a nation. To begin with, people usually reserve cash in banks. Provided that, such organizations can easily lend capitals to other people in need to establish various small organizations or factories and escalating the income source of the impoverished masses. To cite an example, banks in Nepal grant numerous loan facilities to desirable individuals and this phenomenon has considerably mounted the economy of the country. So, people accumulating their finances in banks have a significant impact on raising the financial status of the state. Nonetheless, several businessmen spend money to build large multinational companies and organizations. This will certainly skyrocket the employment opportunities and anticipate work to many jobless people and help in mitigating financial issues. Mr. Chaudhary, one of the billionaire of Nepal, had inaugurated several organizations and factories. Thereby allotting job placements to many needy people that had a significant impact on Nepal’s economy. So, people disbursing funds aids in the development of the nation. In conclusion, I believe in this scenario in the country will be benefitted more provided that people spend money to construct businesses and distribute working options.