In the contemporary world, identifying how to spend salaries is a little bit controversial and complex issue. According to some people, spending money might be helpful to improve economy; however, others assert that being financially savvy is more beneficial for a country. In my opinion, I consider that people’s more expenditures may be economically viable for economy due to boosting productivity and better taxation opportunities for government.
On the one hand, numerous people believe that saving money can reinforce economy, because this step can decline financial risks. In other words, if people do not squander their money, they will not face economic problems. As a result, the number of people who become compulsory to take out a bank loan are are unable to pay their debt will decrease, so banks will be able to operate with a low-risk condition. Another decisive justification why being thrifty is crucial is that people gain a future investment opportuniy. If everyone can learn to save sufficant capital, more people will afford to set up a business. This approach may be practical for economic growth, and it can reinforce stiff competition in a market industry.
On the other hand, I consent with those who suppose being a little bit extravagant might contribute to better economy. The first reason is that making a regular purchase strentghens productivity, so businesses can earn more money. Thus, increasing rates in sales may motivate people to enter a market industry, and employement opportunities will be available with creating jobs. Furthermore, the amount of money that government gain from excise duty and income tax will increase. In addition, government will be able to impose more stringent taxation on eterprises and businesses operating in the market industry.
In conclusion, although there are contradictory opinions about this topic, I agree with people consider spending money as a boon for economy. I hope individuals understand how to support government financially and choose the right side.