There is no doubt that individuals are more wealthy as compared to the past nowadays, and they are spending more money on shopping

Essay
There is no doubt that individuals are more wealthy as compared to the past nowadays, and they are spending more money on shopping. This trend is certainly a negative development on the part of an individual as they spend their hard-earned money on buying unnecessary stuff; however, this is unarguably beneficial for a country because it stimulates a nation's economy.
Taking into consideration the drawbacks of spending money, when people tend to have extra wealth in their hands, they often prefer to go on a shopping spree in lieu of saving that money for medical emergencies. As a result, they end up buying such items which they hardly utilise. Many working professionals, for instance, love to squander money on state-of-the-art smartwatches to make a good impression on their colleagues. Nevertheless, when they face health care emergencies, such as cancer, they do not have enough savings because such treatments are quite expensive.
Considering the benefits on nations' economy, consumerism is considered as the driving force behind an economy. In other words, consumer spending would increase the demands which would be coped up by inaugurating new manufacturing units and businesses. This would not only increase the tax revenue but also offers more job opportunities. Resultantly, nations' growing markets would be boosted. Recent studies have shown that there is a positive correlation between a country's economy and citizens' shopping habits.
In conclusion, although individuals tend to squander money on non-useful things, its instrumental role in a country's economy cannot be denied. If a country had financial instabilities, citizens would live uncontended and destitute lives.

Done by: Jamolova Dilobarhon