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Is money important in our lives?

Money is any item or verifiable record that is generally accepted as payment for goods, services, repayment of debts in a particular country or socio-economic context, or is easily converted to such a form. The main functions of money are distinguished as: a medium of exchange; a unit of account, a store of value and, sometimes, a standard of deferred payment. Wikipedia (

Money is everywhere, and we can’t survive without money. Money is similar to food we can’t go too long without it. Money is very important and people should learn more about it. If money is so important why financial illiteracy is so high among people? There is no course taught in school about the difference between a savings account and a checking account. Nowadays, not many people know how to write a check. We need to read our bank statements, understand our credit report, know the basics about investing, do a budget and many others.

If we have an unlimited amount of money, many of our problems will be solved. However, money is also the root of most people’s problems. Money does not come by wishing or praying to have money. You have to work hard and be extremely smart with your money. We need to find the balance between spending and enjoying money. Money will not solve all your problems but you will definitely live better if you have enough money. We are taught that we can’t envy people who have more money than us. What we should be taught is how we can afford what other people have. That way, more people will be working towards their goals.

I don’t want to be misunderstood with my last sentence. I am not telling you to earn money only to buy a better car, if you can find out how you can buy the car without changing your lifestyle. For example, I have two jobs and I managed to save, buy and rent a house that generates $500 a month on residual income. Then, I went and buy a new car that pays $380 a month. I found the way to generate the money to pay for the car and saved some money on the side. I am not struggling to pay for the car or rely on my salary to make car payment.

Money is important because it means that you will not be destitute. If you have money you don’t need to be dependent on your job or being afraid of losing it. Money is not everything, but if you are in control of your money you will be able to enjoy life to the fullest. Learning about money takes a lot of discipline, resourcefulness and drive, I promise it is worth it.

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