Some people think 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 views and give your opinion

For economic progress, some people assert that people ought to spend their salaries;

however

, some would argue that people had better save their

money

. While expanding

money

would result in economic robustness, I believe that amassing

money

for the future would help them get rid of financial worries. On the one hand, spending

money

can help governments develop their countries.

In other words

, the main income for the State is the amount collected from the public in the form of taxes they have paid by making a purchase.

This

money

,

therefore

, be utilised to reciprocate in a constructive way - making education more competitive, introducing state-of-the-art health care system-which,

consequently

, lifts the living standards of citizens. In the West,

for instance

, people are encouraged to spend their earnings with a view to delivering sophisticated amenities to individuals.

However

, I think that in

this

way people might become materialistic and squander their hard earned

money which

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money, which

,

otherwise

, would have been saved and used in difficult times.

On the other hand

, accumulating wealth comes immensely handy in the twilight phase of

individuals life

Suggestion

an individual's life

individual's life

the individual's life

individual life

individuals' life

. People's capability to work and manage their overhead expenses deteriorates with the span of time, and they often struggle to meet both ends. Given the unavailability or decreased incomes they have to resort to government's old age schemes to support themselves, which are usually inadequate to provide the lifestyle - they dreamt in the young age.

Hence

, if they have some savings to financially support their expenses, they would be able to relish the post-retirement period. Recently unveiled report file Life insurance Corporation

Limited India

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Limited, India

, it was revealed that around 75% working professionals are investing in insurance schemes to make their old age less problematic. In conclusion,

although

spending could usher in development and more facilities, I reiterate that people should save their income in order to protect them from financial crisis in their later life.