Extremely non financially savvy person here. Is the idea that more people then get home loans, or there is less to pay back on credit cards? I keep seeing this and don’t quite understand.
Thanks so much.
In: Economics
When you have to spend less money on bills, you spend it on something else, stimulating the economy. Say you save $100 a month more than you were doing before. The average person doesn’t hoard this money. They spend it in their community, where they may not have been spending before due to lack of funds.
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