The importance of money is a topic that is often debated in today’s world. Some argue that money is everything, while others believe that it is not necessary for a happy life. However, the reality is that money is an essential tool for survival in the modern world.
From the moment we are born, we are surrounded by the desire for material possessions. Our parents dream of a better life for us, full of luxuries such as expensive cars, world tours, and fine dining. However, many of them also tell us that more money leads to more problems, contradicting their own aspirations.
To understand the importance of money, let us consider life as a video game. Like a game, life has multiple levels that we must cross to reach our goals. Initially, we are provided with free coins or points to help us start the game. Similarly, during our childhood and teenage years, our parents provide for us and shelter us from the real world.
As we move up the levels, the difficulty increases, and we must earn coins or points by clearing each level. Similarly, as we become adults, we must find ways to earn money to fulfill our needs and wants. In this game of life, money is the tool that unlocks happiness and different levels of life.
It is a common misconception that earning enough money to fulfill one’s basic needs is sufficient. However, in today’s world, the goal is to reach the highest level of the game of life. To succeed, we must exceed our limits and constantly strive to be superior to others.
While it is true that money can buy happiness and success, it is essential to remember that earning money at the cost of others’ lives is wrong. It is crucial to earn money ethically and use it wisely to unlock new levels in life.
Furthermore, it is important to understand that money is not everything. It is just a tool that can help us achieve our goals. It cannot buy us love, good health, or happiness. However, it can provide us with the means to access the resources necessary for these things.
In conclusion, the importance of money cannot be denied in today’s world. It is an essential tool that unlocks new levels in the game of life. However, it is crucial to earn money ethically and use it wisely to access the resources necessary for a happy life. We must remember that money is not everything, and true happiness lies in the simple things in life.
FAQs
Money provides security and control
Having enough money also provides a sense of security, one that is often missing when people worry about unforeseen medical expenses or losing their job.
Why is money important the best answer? ›
It is an essential tool that enables us to meet our daily needs, achieve our goals and aspirations, and attain financial security. Here are some reasons why money is important: Basic Needs: Money is essential for meeting our basic needs such as food, shelter, and clothing.
What is the importance of the money? ›
Money provides a safety net, shielding us from the uncertainties of life. It allows us to cover our basic needs—food, shelter, and healthcare—and grants us peace of mind. Knowing that we have the resources to weather unexpected expenses or emergencies contributes significantly to our overall well-being.
Why does money have to be so important? ›
Because money is necessary for obtaining the goods and services you need to survive, an understanding of personal finance is essential. You need to be responsible with the money you earn and save enough for the future to ensure you will still have enough leftover when you can no longer trade your labor for money.
What are three reasons we need money? ›
Demand for Money
- A transactions-related reason – People need money on a regular basis to pay bills and finance their discretionary consumption;
- A precautionary reason, as an unexpected need, can often arise; and.
- A speculative reason if they expect the value of such money to increase versus other asset classes.
Money is the basic requirement of the life without which one cannot imagine a healthy and peaceful life. We need money even buying a little needle. In the modern time, where growth of civilization is going very fast and following western culture, we need more money because of the increasing prices of everything.
What is the main purpose of money? ›
It is used as a medium of exchange between individuals and entities. It's also a store of value and a unit of account that can measure the value of other goods. Prior to the invention of money, most economies relied on bartering, where individuals would trade the goods they had directly for those that they needed.
How much money do you need in life? ›
While you might need $10 million to fund your ideal life in perpetuity, saving that amount of money is not a realistic goal for the vast majority of us. If you had a take-home pay of $100,000 per year and invested half of that at 8% per year, it would still take you 36 years to save $10 million.
Why Is money important to happiness? ›
Money contributes to happiness when it helps us make basic needs but the research tells us that above a certain level more money doesn't actually yield more happiness. Not only did earning more money make participants happier, but it also protected them from things which might make them unhappier.
Why money is important but not everything? ›
Money isn't everything since it can't buy us the essential things in life: health and love. One of the most important things in life is your relationships. Friends and family are the people who will be there for you through thick and thin, and they are worth more than any amount of money.
In some ways, the value of money is simple to understand. Since money is just a medium of exchange, it's worth whatever you can exchange it for. In other words, money is worth what it will buy. Given economic factors like inflation, interest rates, and others, money's value can also be complex.
Is money the purpose of life? ›
Life Isn't "Whoever has the most money wins"
Planning for the future and investing for things like retirement are of vital importance. Accumulating money for your future, however, should not come at the expense of your happiness today. No matter how much money you accumulate, money by itself cannot bring you happiness.
What are the benefits of having more money? ›
There are obvious advantages to having more money. You can live in a nicer house and drive a nicer car, take better vacations, provide quality education for your kids, gain improved access to medical care, and have a more comfortable retirement.
Why is being good with money important? ›
Why is Personal Finance Important to my Future? Personal finance is essential for meeting your short-term and long-term financial goals. With household debt rising, inflation impacting household budgets, and the ebb and flow in global financial markets, managing personal finances is more important than ever.
Why is the right amount of money so important? ›
If you save enough money, you can acquire things like a home or a college degree can that help you earn a good income. And, you can live off the returns your money earns so you won't have to trade your labor anymore.
What would happen if money didn't exist? ›
If there were no money, we would be reduced to a barter economy. Every item someone wanted to purchase would have to be exchanged for something that person could provide.
