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.

Although

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it is sometimes thought that spending

money

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stimulates a country’s

economy

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, other people consider that the focus should be on saving

money

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. In my opinion, I believe that spending

money

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is the best solution for a country’s

economy

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to be flourished. On the one hand, some people think that spending

money

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will help a country’s

economy

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to be leading and prosperous in the long run and I agree. Consumer spending can be considered the driving force behind an

economy

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, where increased spending reflects the

consumer’s

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consumer

confidence in a country’s

economy

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.

This

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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

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, new businesses will open to cope with increased consumer demand, which will result in creating more

jobs

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job

opportunities as more businesses open.

This

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can bring more economic advantages to society as a whole.

On the other hand

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, it is often believed that it is better for a country’s

economy

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if the emphasis is on saving

money

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. Because an increase in savings allows banks more flexibility in lending

money

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for investment.

This

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can help small companies to expand their projects and create more jobs to residents. Another reason why saving

money

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is useful for a country’s

economy

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because saving

money

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for old age is essential and eases the strain on social welfare because old people without enough

money

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will drain a country’s

economy

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.

Moreover

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, if spending is based on credit, it will result in too much debt.

In other words

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, a country which has too much debt has more financial problems because the country is obligated to return

this

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debt to the lenders, and

this

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will put more strain on other sectors

such

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as, healthcare,

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as healthcare,

education, etc. In conclusion, while people may vary in their opinion, I think that spending

money

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can stimulate the

economy

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by opening more businesses, which will result in creating more jobs.