Is the Austerity Principle Important?

[Suba]

The Austerity Principle was first implemented by the British government when facing the economic crisis after World War II and also in 2008. The Austerity Principle highly prioritizes savings, especially during a crisis or uncertain global economic conditions. If we apply the Austerity Principle to our daily lives, it will be very useful because it can prevent a consumptive and impulsive lifestyle and is oriented towards long-term life.