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.

It is argued

by

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certain individuals that spending

money

improves a nation's economic status

while

others believe that saving does that better. Personally, I opine that keeping

money

for later

use

builds a

country

's

economy

since more

people

will be financially stable.

Therefore

in

this

essay, I will tackle both these views and provide a conclusion. First and foremost, putting

money

to

use

ensures that more of it remains in circulation.

In other words

, because a lot of

people

spend

money

, it accords the masses more chances to get hold of it and

thus

reduces the burden of being broke.

This

in itself is a plus for a

country

's

economy

because not only does the

economy

boost but

also

its inflation rate reduces significantly. Take,

for example

,

in

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a survey conducted on the benefits of having more

people

spending their

money

, it was determined that the inflation rate reduced by more than 89 per cent as opposed to when they were saving. In the long run,

this

influences a

country

's

economy

positively.

Nonetheless

, taking

this

route oftentimes results in more broke

people

as

non

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none

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would have kept anything for future

use

. Based on

this

fact, I feel spending more does not help a

country

's

economy

at all

On the other hand

, when a lot of

people

keep the

money

for future

use

, it enables them to undertake projects that they would

otherwise

not have been able to do under normal circumstances. To put

this

in perspective, it is only when the masses save

money

that they

would

Wrong verb form

will

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be able to build new houses or start a new business with a higher amount from their savings.

For instance

,

due to

the low-income

people

are currently earning, most of them are unable to start a company unless they get a loan or credit card which

further

cripples the

country

's

economy

. The opposite is true when

people

have been saving.

Nevertheless

, saving at times takes

money

out of circulation as

people

will rarely be using it. Yet, that can be overcome by restricting the amount and period one can save. By way of conclusion, I reaffirm my position that storing

money

for future

use

is better than just using it anyhow. The latter only works as a temporal method of improving a

country

's economic status

while

saving is

long term

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long-term

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in

this

regard.