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what is money essay Importance Of Money Essay Examples | Kibin

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Personal Finance

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Life Advice

What is the importance of money in ones life? Can money solve most, if not all, problems in life?

59 Answers

Harshav Raj

Harshav Raj , Finance enthusiast

It is often said that money is not the most important thing in the world. For many people, however, it is right up there next to air in importance. These are not necessarily overly-materialistic people. Rather, they simply understand the true value of money. Money, in and of itself, is not very spectacular. What money can do for you is what is really important. Money gives you freedom and choices. You can decide where and how you want to live when you have a good income or financial resources. On the other hand, when you do not have much money, choice may be something that you cannot afford. The choices available to you may not really be choices at all.

Money can buy you happiness

With money, you can often rule today’s materialistic world. If you have enough money, poverty will never approach you. Contrary to what most people think, it is not money or the love of money which is the root of evil—it is greed, a love of power and authority, poverty, and a fear of want which are often the roots of evil in this world. You can buy a good house , wear good clothes and spend on the things you get pleasure from.

Money can buy you health

You can maintain your health even though you cannot rule your health. Money helps you with that. With modern healthcare increasing human longevity, money can help you to improve your health by letting you lead a comfortable, healthy lifestyle if you spend money on healthcare, whether it may be spending on diet and nutrition, working out, or just taking medication.
A lot of people globally postpone health checkups because they don’t have enough money to pay for health care bills. Again money’s role in health maintenance is irrefutable.

Money is an aphrodisiac

Women and money are often inseparable. Money often helps to create power and reputation. Reputation creates authority. All chicks dig authority.
Even if your woman says she doesn’t need cash and she loves you for what you ‘are’ as a man, the question to be raised is: are you a naked man living in a jungle using nothing? You’re using the internet to read this post. Who’s paying for it? Even if you’re not, someone is.

Your identity as a man is your personality. What is your personality? Your personality is the cumulative accumulation of your wisdom, skills, character, education, upbringing, talents, career and style. How were these acquired? For free?
You acquired an education. Whether you actually went to a university or you studied at home, you are still ‘paying’ for it, or someone is ‘paying’ for it.

However money is not everything and there are other things that are more valuable in life . Money is only a tool or medium to achieve happiness ,it may not be the everlasting happiness in itself.

Some downsides

  1. Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. –Ayn Rand
  2. Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. –Franklin D. Roosevelt
  3. Empty pockets never held anyone back. Only empty heads and empty hearts can do that. –Norman Vincent Peale
  4. If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability. –Henry Ford
  5. If you live for having it all, what you have is never enough. –Vicki Robin
  6. We make a living by what we get, but we make a life by what we give. –Winston Churchill
  7. Wealth is like sea-water; the more we drink, the thirstier we become-Arthur Schopenhauer
  8. If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed. –Edmund Burke
  9. You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you. –Maya Angelou
  10. Money often costs too much. –Ralph Waldo Emerson

Hence we must make money but keep the other necessary ingredients of life entangled in the process.

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Michael Williams

Michael Williams , studied at 11th Grade

The importance of money is that you can use it to trade for other things that you need. Which is a very good thing because it helps you get your needs met.

Money is very good at helping you solve the set of problems that you have that require an economic exchange to take place for those problems to be solved.

So things like, if you need shoes, money can solve that problem because you can exchange it for a pair of shoes. Problem solved.

So problems involving an economic exchange can be solved with money.

However, problems that cannot be solved with economic exchange cannot be solved with money.

Some of those problems may include:

-how well people genuinely like you as a person

-how well your kids respect you as their parent

-how true the love of your spouse is for you

-how well you love yourself

-having a child with an incurable disability

-having an incurable disability yourself

-the list goes on.

There are potentially many elements can be included in this list.

These problems are more difficult to solve and require more than a single economic exchange to solve.

Some of them may not even be solvable even with unlimited money.

I call these problems character problems because they demand so much from the character of the person you are to solve them.

So money can solve many problems (only those in the subset of problems solvable through economic exchange) but it isnt a very useful tool for solving character problems. You can only solve those problems through personal growth, self development, etc.

Pavani Bharathula

Pavani Bharathula , LIFE is beautiful 🙂

Thanks for the request Pradeep Singh 🙂

According to me, money is very important. Lets analyse:

  • Can anyone get admission in school or college without paying fee?No right!-–parents pay a lot to give good education to their children, they struggle for it.
  • Can anyone buy good clothes to wear without money?Again its NO!
  • Can anyone buy good healthy food without money?Obviously NO!
  • Why everyone is doing job?  some people even crave for extra income so ask for online jobs—Answer is its obviously for money
  • Once a person dies, even to bury the body and do funerals, relatives or family members will pay money for it.
  • Why is that everyone craves for higher education in foreign countries or some reputed universities?–-Because, it fetches good salaries as good companies will come.—Answer again money
  • Can anyone get good treatment with out money?—Answer is NO!
  • Can you stay in house without paying rent to landlord?–Answer is NO!

Money plays a very important role. Everyone wants money for several reasons. some people say money is not important and I say they will understand the value or importance of money only if they undergo deep neck financial problems.

  • Imagine you are so hungry and there is nothing to eat and it continues for 10 days..and you have no money to buy…how it feels? If you would face this much terrible hungry then you will understand whether money is important or not.
  • Imagine you want to study and you are so passionate of studies and want to  peruse your dreams but you dont have money to pay fee, you dont have money to buy books also…how it feels? If you would face this problems during your study life then you will understand whether money is important or not.

There are so many situations and list goes on……… so people who says money is not important didnt face any above discussed issues. In fact, they didnt see much in their life yet.

Money is very very important. it is ruling the world.

Some say, Money cant buy happiness. It is wrong. Money can buy happiness… If you buy your dream car or dream house or favourite clothes, wont you feel happy? Everyone feels happy.  It is money buying you happiness.

Answer to second question: Yes , Money can solve problems and Money can bring problems. Both are equally possible. But money solves most of the problems. It brings back your relatives, it brings people together, In some scenarios, knowledge is respected. In some scenarios, attitude is respected. In some scenarios, money is respected.  So, You will be respected.

P.S: Money should be sufficient to fulfill ones own needs,. Excess money always bring problems and sadness. Anything excess will always do harm. whether it is excess in take of food, excess laughter, excess money etc.

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Awdhesh Singh (अवधेश सिंह)

Awdhesh Singh (अवधेश सिंह) , Director Awdhesh Academy, Author & Former IRS officer

The importance of money in human life is similar to the importance of food for the body. Just like you can’t live even for a few days without food, you can’t survive for long without money.

You can definitely solve most of your problems of life if you have unlimited supply of money.   If you have lots of money:-,

  • You won’t be facing basic problems of life like food, water,shelter or clothing. 
  • You can buy all items for your comfort like house, Air-conditioners,TV and other household goods to live comfortably.
  • You can engage many servants to take care of you and live like a king

The only problem is that money does not come just like that to any person by any amount of wishing, praying or wanting. You have to work hard and compete with fellow human beings to earn money as the supply of money is limited in this world but the demand of money is unlimited.

Hence, money which is a solution of all problems actually becomes the root of all problems for most people.

Most people fail to strike a balance between earning and enjoying money. They believe that more money means more joy. Hence they workday and night; make all sorts of compromises and suffer all types of pain in order to earn money in the hope that they would use this money to enjoy happiness soon. However, for most people, such time never comes and they die unhappy and dissatisfied. 

"How Much Land Does a Man Require?" is a beautiful story by Leo Tolstoy which explains this nature of man.

A peasant named Pahom overhears his wife and sister-in-law argue over the merits of town and peasant farm life. He thinks to himself"if I had plenty of land, I shouldnt fear the Devil himself!"  Satan is present sitting behind the stove and listening. Satan abruptly accepts his challenge and also tells that he would give Pahom more land and then snatch everything from him.

A short amount of time later, a landlady in the village decides to sell her estate, and the peasants of the village buy as much of that land as they can. Pahom himself purchases some land, and by working off the extra land is able to repay his debts and live a more comfortable life.

Later, he moves to a larger area of land at another Commune.Here, he can grow even more crops and amass a small fortune, but he has to grow the crops on rented land, which irritates him. Finally, after buying and selling a lot of fertile and good land, he is introduced to the Bashkirs, and is told that they are simple-minded people who own a huge amount of land.

Pahom goes to them to take as much of their land for as low a price as he can negotiate. Their offer is very unusual: for a sum of one thousand rubles, Pahom can walk around as large an area as he wants, starting at daybreak, marking his route with a spade along the way. If he reaches his starting point by sunset that day, the entire area of land his route encloses will be his, but if he does not reach his starting point he will lose his money and receive no land.

Pahom is delighted as he believes that he can cover a great distance and has chanced upon the bargain of a lifetime. He stays out as late as possible, marking out land until just before the sun sets. Toward the end,he realizes he is far from the starting point and runs back as fast as he canto the waiting Bashkirs. He finally arrives at the starting point just as the sun sets. The Bashkirs cheer his good fortune, but exhausted from the run, Pahom drops dead.

His servant buries him in an ordinary grave only six feet long, thus ironically answering the question posed in the title of the story.

This story provides the greatest wisdom about money.

You must ask this question: “How much money does a man require?”

And then try to find the answer yourself.

The right answer to this question can solve most of the problems of your life and fill it with joy and peace. 


How Much Land Does a Man Need?

2015 – Duathlon Blog

Raghuma Mandali

Raghuma Mandali , self educated in personal finance, adept at it.

Money makes many things but money breaks everything. Though it can solve many problems it creates a fresh set of problems. A lot of people answered about the problems money can solve. I agree with all of them. And what problems money creates? Heres a list ( not exhaustive) :
It spoils relationships. Wife and husband fighting over how much each earns, children fighting with parents over properties and so on.
It causes mental stress both in its presence and absence. Heard from a person working in psychiatry hospital that many people are coming there due to excessive money problems.
If in excess it spoils you. If lacking it turns you bitter.
People judge you based on how much you earn , if you earn more you are scamming someone, if you earn less you are worthless.

Well this goes on. Having control over money is not always possible. If someone says they are always the one who controls money, they are lying. Whats possible is managing money. You just need to know how to survive with less money and how not to over indulge when you have more money. It comes with practice.
When you have this very strong impulse to spend on something, its better to give in spend it instead of fighting the impulse. At the same time you can cut down the expenses somewhere else. So managing is the secret to handle money, not controlling or thinking that its unimportant. Money is as important as you need it.

Rekha Narendra

Rekha Narendra , Tell me Why I cant be there where you are?

A rich Father was blessed with a daughter.  She grew up like a princess, Her father got her married to an NRI Indian. The person whom this girl married was from a very good family, he was intelligent, he seemed flawless. It was a Big Fat Indian Wedding. Money was nowhere an issue for both the families. In fact as this girls Father was very rich, he transferred half of his property to his Son-in-Laws name. He was proud that he got his daughter married to such a good family & to such a good Man.

Things were going great. After 2 months of marriage, this girl had to move to U.S. along with her husband. After moving to U.S. this girls life completely changed to an extent, she never expected it will. Her husband for no reasons tortured her daily, he even burnt her passport.  This continued for 2 years, This girl waited expecting that one day her husband will turn out to be good. One day this girl was thrown out of the house by her husband. She took help from a family in U.S who gave her shelter, she called her father & explained him everything. Her Father got her daughter rescued & she was brought back to India.

She divorced her husband. In court, on the day of divorce, this girl held her little baby girl in her arms, She was expecting that  her husband would at least take a glimpse of their little girl for the last time. He did not even turn back it seems.

He was a Father & he did not get that emotion of missing his daughter forever. Money wont be able to instill that emotion in that Man. He betrayed his wife, Money wont give that girl the love of her life back. This Man turned out to be a bad person, All the money he had cant make him Good. As a whole this family got disintegrated, It was one life they had, Money cant give them the happiness of living together as a family sharing the good & the bad times. So in this story all characters have lost everything in life, except money, Now the question is what is the value of Money in their life at this point of their life.

In my point of view Money, Morals, Relations, Love all have their own value in our Life. Problem is when Money overtakes remaining aspects of our Life.  Even if one thing goes missing, things will turn upside down.

Thanks Pradeep for asking a good question.

In other languages

En español: ¿Cuál es la importancia del dinero en la vida? ¿Puede el dinero resolver, si no todos, la mayoría de los problemas de la vida?
En français : Quelle est limportance de largent dans la vie ? Est-ce que largent peut résoudre la plupart, si pas tous les problèmes de la vie ?
Auf Deutsch: Welche Bedeutung hat Geld im Leben? Kann Geld die meisten, wenn nicht alle Probleme im Leben lösen?

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