Is Money important for Human Life?

All about your Money Honey… Part 4

Money, Money, Money...

You must know how money is important in our life with continuation to the previous post of Types of Money.

Money lets you live a reasonable, comfortable life so that you can buy the daily necessities and take care of people around you. In that sense, it is important. 

Importance  of Money in Life

Dawn until Dusk, day after day, month by month and year after year we need money for leading self-sufficient life. To
survive right from birth to death, everyone need money at every moment of life. To travel through time we need to satisfy basic needs of human life like food, clothing, shelter, education & healthcare that can be obtained only with the help of money. When we turn the pages of history we see the role that money has all along played in the lives of people. As each generation has passed to another, the importance of money has increased. Money, therefore, has an increasing role in our lives. This is because of inflation, invention and competition, which have multiplied manifold with the passage of time. 

We can understand the importance of money from the functions performed by money. As we seen in the earlier post, Money performs four main functions:

1) a medium of exchange for buying goods and services;

2) a unit of account for placing a value on goods and services;

3) a store of value when saving;

4) a standard for deferred payment when calculating loans. 

It dwells in the heart of the rich and the poor, the good and the bad, the black and the white, the ugly and the beautiful and so on and so forth. It is only the importance for holding money varies from person to person. It is indeed ironical that those who pull themselves out of the rat race for money still need money. In these circumstances, there is an unavoidable need for money that is essentially encountered by everybody.

Some people wrongly feel that money means only currency notes and forget to include in its definition the items that can be acquired by it. Money gets people accommodation, business, clothes, gold, food etc. It is for this reason that money does not mean just the currency notes and coins but includes everything that comes to us with its help. Cars, clothes, food, fineries, houses are all the different forms of money as all of them are money's worth. 

Though Money has more importance in life, Please remember Money is just a means of living. We should make sure that "We make money to live and we do not live to make money". We must remember that there is much more to life than just money.

At last, Just remember the words of William Crapo Durant (Founder of General Motors and Chevrolet) regarding Money before you over earn than you need to lead your life

"Money is only loaned to a man. He comes into the world with nothing and he leaves with nothing".

i.e., In a spiritual sense, nothing remains once we're gone.

So if you have excess money than what you need, please see below image for further action.

Money is important but not everything

Categories: Importance of Money, Money Basics, Money Management