Many people prefer to spend money and not save it. what are the reasons? Is this a positive or negative development?

Answer:

In this modern era, To enjoy and live a luxurious lifestyle, money is mandatory. Sundry folk opts to spend money rather than preserve it. There are several rationales to spend the money and that reasons are mention below.

Firstly, The vital purpose to splurge is enjoying life because  God has given a wonderful life only one time, so people have to savor their lifestyle, otherwise, their lifestyle is jejune. Folk can spend money on a trip like pupils can go for a school trip, the couple can go on the honeymoon trip, and so on. Another reason is a people want to live an opulent lifestyle this means people spend their income on buying a luxurious car, smartphone, smart T.V, etc. For instance, my friend is a working in Infosys Company, and his salary is 50000RS per months, but after every 6 months he brings the latest smartphone of apple company, so he likes to use the latest smartphone and also passionate.

Secondly, Research says that people who spend more money they can earn more, so this means to fulfill their requirements, peeps can achieve more amount. If folk can spend cash and acquire more, it is good for the economy of the nation. Nation economic swell when money more transfer to each other, and also society will develop.

To conclude, Expend money is good for national development and economic, so it is a positive development, Because people spend more money on the product then companies get more benefit and companies has to pay tax to the government, so it is good for the country.