Most of the time, the economy of the country depends on how people use their money. Although, there is a common belief among some people that, spending money by people is more beneficial in order to increase a country’s economic income, the others think vice versa. In my opinion, I consider that spending side is better.
On the one hand, it is often believed that saving money is a more preferred way to promote economic growth. Individuals make deposits in their bank accounts, and then the government gains a boon such as taxes. Additionally, it is obvious that when people save money, they can make better investments by spending more money, for instance to set up a business. So, in this way, the government gains profit, because if there are many companies in the country, there will exactly be inevitable revenues.
On the other hand, I agree with this opinion which says spending money is more profitable. As people, we purchase something from various places, for example shopping malls, restaurants, and bookshops on a daily basis, and then the government collects taxes from these purchases. Furthermore, there is a well-known type of a tax which is excise duty paid to the government for buying certain goods such as cigarettes and alcohol. Additionally, expenditures on local businesses stimulate the owners to invest more money in their services and staff. As a result, new and improved businesses increase country’s income as well.
In conclusion, while there are different perspectives, I strongly believe that when local communities put money on something instead of keeping, it would more likely contribute to financial development of a country. Eventually, I guess that if expenditures increase, any country’s economy will be able to gain benefits in the future.