As we have been taught in schools, money is a universally accepted medium of exchange, typically in the form of coins, banknotes, or digital representations that are used to transact goods, services or debts. The three main functions of money are;
- To store value
- A medium of exchange and
- A unit of account.
Money is also the lifeblood of modern society that holds a great role in shaping our lives. Without money, our needs aren't met and to live a comfortable life, money is needed to make life easier. Money dictates our path and helps us seize various opportunities. The necessity of money goes beyond mere material possessions; it intertwines with our basic needs, societal functions and personal aspirations. As we try to understand its indispensable essence, it reveals to us the great impact it brings to our existence.
From its foundation, money fulfils the fundamental human needs for sustenance, security and shelter. The provision of basic necessities lies across the availability of financial resources which enable each individual to acquire food, shelter, healthcare and education. The absence of money or its scarcity often deprives humans of many rights, limiting their potential and perpetuating societal disparities. So also, the fear of scarcity of money and the desire for a better quality of life motivates individuals to continuously seek financial stability.
However, beyond survival, money unlocks doors of opportunities for personal growth and advancement. It serves as a tool for exploration, education, skill development etc. It is the availability of money that makes individuals pursue more knowledge, enrichment and self-improvement. Scholarships, courses, skills and learning opportunities become obtainable through the financial leverage money provides, thereby empowering individuals to develop their horizons and become important persons in society while contributing to meaningful discussions.
In addition, the aspirations and goals of individuals are what drive them in the pursuit of money relentlessly. For some, money represents freedom which enables them to seek pleasures, travel for exploration, support loved ones etc.
Looking at it in a broader context, money lubricates the wheels of economies which drive innovation, progress and connections. Money helps to facilitate trade, investment and entrepreneurship, promoting economic development and prosperity. This is what makes societies thrive when there are individuals who transact with businesses, share ideas, invest and amplify opportunities for collective advancement. Cultural norms, societal expectations and peer pressure often see wealth as a symbol of success and status and it is what perpetuates individuals to keep pursuing money in order to be recognised, have respect and have a sense of accomplishment.
However, the essential value of money extends beyond tangible wealth; its influence penetrates through human relationships and societal structures. It influences power dynamics and shapes hierarchies and the ability to make informed decisions making. The distribution and accessibility of wealth greatly impact social mobility and equity which raises some pertinent questions about fairness within societies.
In conclusion, the need for money transcends beyond mere transactions; it represents the essence of survival, progress and societal functioning. Its drawback is that it brings about the endless circle of wanting more, which may increase tension, and anxiety and ignore other facets of life which include relationships, one's well-being and experiences that aren't motivated by money. Although we cannot dispute its importance, understanding its multifaceted effects encourages reflection on the part of individuals and societal relationships. To strike a healthy and balanced coexistence, it is important to acknowledge its significance while navigating the moral and ethical challenges it comes with.
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It's quite an undeniable fact that money is a vital need. It should be considered as one of the crucial physiological needs of human in the sense that money is needed to get a shelter food and clothing
You are very right. Money meets all basic needs and with this, humans crave for more as they keep chasing to get money in order to live a better life.
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Hmmmm. Money indeed holds great roles in our lives, cause without money there's nothing. Also, money speaks a lot that's why you will see people running after money or doing nasty things to earn the money. As how people say money speaks, if you have the money then there's nothing you can't do with the money. Also, for some money represents freedom to seek the pleasure of travelling around the world, and buying things that are not that important just because you have the money.
Money also influences power, for example, if someone witnesses a murder scene, because they don't want their secret to be exposed they will bribe the people to keep his or her money shut. Money changes someone's life and likewise, destroys someone's life.
You are very right dear. Money speaks so much volume. Money can be used for the right and wrong thing. People can go a long way doing things for money and that is what makes money valuable.
We spend our health to collect money and then we spend the money to get back our health. The post was really good nice points you mentioned. Keep up the good posts👍
That is it. Money works all round for things we need. Thank you for reading and I am sorry for the late reply.
Money as a tool can be used to do many things that help us live a better life, in practically most domains in life. Because it has also become indispensable in taking care of our basic needs, we often view it as necessary and that's where I think the tension lies. To go all in on that domain and forget the rest.
With money, people wants to go deeper in that domain while neglecting other aspects of life. Money is important but it must not take away the most important things of our lives. Thank you, Takhar.
Right. It's important but it isn't the most important. So we somehow have to find a way to balance these different and important aspects of life. You're most welcome :)