Managing your state is expensive, with many activities requiring you to spend money. Over time you may run out of savings and be forced to cut financing in order to avoid falling into debt. This page explains how to make and save more money.
Proper development of economy
Investing in production, industry and services is the basis of a functioning economy. Researching technologies from the Production branch will strengthen your financial situation.
When constructing production buildings requiring specific resources to function, build mines and factories which can provide you with said resource first if possible - importing them may prove very expensive over time. Remember you can export the surplus of produced goods, earning you a higher profit.
Taxes are one of your state's main sources of income. It's difficult to balance them correctly, as they won't help much if they're too low and will dissatisfy your citizens if too high.
If you end up running out of money, you may end up having to increase taxes for specific social groups. You can set the exact taxes in the Budget section of the Overview tab.
Above we've pictured how to raise the value of taxes per capita, that is, taxes collected from each citizen. Remember increasing taxes will also increase the number of radicals as well as lower the standard of living and legitimacy, extending the period between introducing new laws.
A bit lower you can introduce Consumption Taxes, those paid only by people buying specific products or using certain services. To introduce such a tax, however, you need enough Authority points.
The more developed your country, the more people will work in it. Every employee receives a wage, which may end up heavily straining your budget.
In the Budget tab you can change two types of wages:
- Government Wages - salaries paid to employees of administrative buildings. Lowering them reduces the approval of Intelligentsia, an influencial interest group.
- Military Wages - salaries paid to employees of military buildings. Lowering them reduces the approval of Armed Forces. We recommend cutting military wages if you're not currently at war and aren't planning to get involved in armed conflicts any time soon.
More information on the budget system, including bankruptcy, weekly balances and national debt, can be found on the Finances page.