Jeevika
Why is money important in our life?
Hai ! I am jeevika . I am studying in 10 standard . Why is money important in our life ? #economics #economic-development #economy #money #monetization #money-management #finance
6 answers
Jamed Clark
Jamed’s Answer
Having a plan for our money is important. Avoiding debt is the key! Allows you to better control your future and allows you to give more. Set goals. Every dollar you make should have a destination. Too many young and older Americans make less per month than they spend. Please check out Dave Ramsey’s teachings and Mr Money Mustache’s principles.
Jamed recommends the following next steps:
Nice answer Jamed! I always get recommended checking out Ramsey's stuff by my friends :)
Jordan Rivera, Admin
COACH
Saradhi Lakshmi Narsimha
Saradhi’s Answer
Money has become important part of our lives nevertheless need to understand how, where and for what its used.
More importantly these days due to luxury of applications (both on mobile and computer) we are buying things not that important, but as they are for a very good deal. so we need to be sure that money is a means through which we can get our basic needs, but it cannot be everything. so we need to thrive more towards what we like most and pursue to achieve them, this would in turn able you to earn better or stupendous to spend money for yourself or loved ones.
William Gilliam
William’s Answer
Hi Jeevika,
The importance of money is a relative statement. It is true that we need money to live (shelter, food, clothing) so from a necessity standpoint, it is important. However, I think what's more important is where money ranks in your list of priorities. Money is temporal and will not fill any internal voids. Basically, money won't make you happy. Happiness come from within. That said, what is important is how you manage money. If you don't respect money, it won't respect you. What I mean by this is you have to be responsible with your money if order for it to work to your benefit. This requires discipline and the ability to not be impulsive and be able to delay instant gratification (or a short term gain for a long term benefit). The last point I will leave with you is that you discipline yourself to set aside reserves. By that, I mean always save a portion of you money and start early. The sooner you start saving the higher your rate of return. I recommend you google the differences between investing at 25 years of age and 35 years of age. Good Luck!
Garrett Gollehon
Garrett’s Answer
1: allows us to buy goods and services
2: provides a means to acquire goods and services without looking for a double coincidence of wants
3: to differentiate value on goods that is all denominated in the same amount
4: to motivate us to work for something, without money you cannot enjoy even the simplest activities
Ankit Bansal
Ankit’s Answer
It is not the most important thing but it is important.
There are many reasons.
1. It helps you to be self-dependent. You don't have to depend on others for things in life.
2. Even if you want to help someone or say join the Non-Profit Organization, for your own basic survival needs, you need the money.
3. To support your family, you need it.
It is true that money can not buy everything but without money, you can not buy anything.
Farheen Anis
Farheen’s Answer
It is for sure not everything. We need to understand in what aspect we say it is important. It is important to fulfil our daily need and requirements as money is a means to an end. However, it doesn't mean that we have to be greedy just to have more and more money. Being ambitious is good. Do and go for things which makes you happy and what you're passionate about. Try to excel in what you do, you will be able to manage everything. :)