Simpler is better. To the right are two more examples of how to make something simpler by using smaller words. Cathy declared she really liked chocolate. Gene attempted to purchase a new camera. The way people talk is filled with contractions like those to the right.
Contractions sound like people talk.
So don't be afraid to use them when writing for the ear. I've is a contraction for I have. It's is a contraction for it is. We'll is a contraction for we will. Active verbs are better for listeners.