It is sometimes thought that spending money is considered to be good for a nation’s economy and on the other hand, some may think that it would be better if people start saving money. In my opinion, I agree that both these statements are true and these can be justified by the perspective of their mindset.
Firstly, when people started to think that spending money brings better results to economy of the country, they intends to live their life to the fullest by not considering the future generations and they are being happy with what they are having and will be able to spent for their needs and can live a debt-free life with their family and closed ones. They would feel that, if everyone is having this similar mindset, it can bring a major change in our economy which is true according to me.
Another point to consider is that, it can be noticed that people started to spend more money than they earn to fulfil their needs, which may lead to debt and can cause financial problems.
In case of emergency situations in future, people will start running out of money and may lead to major issues. For instance, there are chances that can lead to suicides and various other issues. From this point of view, I would agree with the later statement. By saving money, it would always be beneficial to us in the future and also for our upcoming generations. We can also invest our funds in long term investment plans and gold, which can be an asset for our childrens. By these acts, we can make our economy better.
In conclusion, I agree that both the statements are true and valid, however I believe that spending too much and saving too much is not good for people and the economy. There must be a limit to which both should be done. We need to spend for our needs and similarly, we need to save for our future.