why money is important in life essay

Why Money Is Important And The Role It Plays in Our Lives

By Todd Kunsman

Financial Independence

Published on May-17-2021

Updated on Apr-11-2022

At some point, you may wonder why money is important and start to analyze the role it plays in your own life. 

And our society has plenty of different viewpoints when it comes to money and happiness, how much money is truly enough, and how to better with money. 

I’m sure you have heard many of the different sayings about money too, whether funny or to hit a particular point to make you think. 

You know the ones, like: 

• “Money doesn’t buy happiness.” – Proverb
• “Money is the root of all evil.” – 1 Timothy 6:10
• “Having money isn’t everything, not having it is.”  – Kanye West

But you’ve probably heard many proverbs, famous quotes, or other sayings from people around you. And while there may be some truth to not let money dictate your entire life and choices, money IS important.

Why Is Money So Important?

The reason money is so important is that it provides options for you to live a better life that you choose and puts you in control. Having money and being comfortable with finances also gives you freedom and options to decide how you want to live and support the things you care most about in your life. 

And yes, it’s true that money cannot necessarily buy you complete happiness forever and greed can make people do terrible things. Look what the hunger for more wealth and money did to Bernie Madoff and how he ruined the many families who invested with him. 

But while there is truth to some of the negative connotations to money, ultimately you have the strength to dictate how you use money and if you let it control you. 

Money is not everything in this world, but it can be powerful in helping you achieve your goals and let you make the best of the short life we all have. 

The Real Benefits of Money

While your whole life does not need to focus on money and accumulating wealth , it is still important to dedicate your time to understanding it and building a strategy.  

Look, we all know that more money means you can generally afford a fancier lifestyle, bigger homes, better vacations, and flashier cars. But those material items are not the real benefits of having money and the temporary excitement from those items quickly wanes.

So why is money important? 

Money Gives Your Freedom

Money is important because it gives you the freedom to do what you want, when you want, where you want. Sometimes we call this “ FU Money ,” which means you reach a point where you can just walk away from a job you hate and are not reliant on anyone’s financial support. 

Do you have hobbies you want to pursue? A dream to start your own business? Money gives you the freedom to explore those areas and take a bit of risk. 

Money Gives You Options  

Being able to make choices and have options is one of the best feelings in the world. Knowing you are stuck in a particular situation because you need the money or financial help is frustrating, so removing that from your life is a great relief.  

When you have money, you control what you want or don’t want to do. Want to have a different career? Want to move to a different state or country? Want to travel somewhere new for vacation? Do it. 

Money Creates Financial Security  

One of the most powerful feelings you can have is knowing you do not need to worry about money.  Financial stress is a common problem among people and families, which can lift a huge burden. 

Whether you lose your job or some economical turmoil happens, you aren’t worried about paying bills, paying to see a doctor for medical reasons, or wondering where your next meal will come from.

Having money and having a financial plan creates more security for you and your family. 

Money Can Create More Life Experiences

Life is short and goes by fast, which means you should want to experience the best things life has to offer while you are here. 

Hoarding money and never experiencing anything is a waste, afterall you can’t take the money with you to the grave! While that might not paint a pretty picture, it’s completely true. 

When you have money, it creates opportunities for you to get more out of life, travel the world, try new things, and get out of your own bubble of where you live. This can also help drive more happiness overall as you are experiencing more that life has to offer. 

Money Helps You Give Your Family More

While generational wealth can be a good thing, there is a fine line of instilling in your children good values and work ethic beyond just handing money over to them. 

But money matters because you can provide your family with better education opportunities, better healthcare, and a better start in life overall. 

There are plenty of children that become spoiled and it creates unrealistic expectations of money while growing up. But that’s where teaching them about money and not giving them every little luxury without hard work will be key. 

Money Lets You Give Back

At some point, you may reach a level of income or financial freedom where you can afford to give back. Helping out charities, your local community, or other causes is a great feeling and it can create happiness when you are helping others.

Yes, there are also some tax incentives when you donate to charities, but hopefully, that would not be your main driver to give back. 

Those are some of the main reasons money is important and should be things you think about in your own pursuit of financial independence. But I’m sure there are other reasons money might be important to you as well. 

The Negative Side of Money

While there are plenty of benefits to having money, there are negatives to it as well. Focusing your energy on making money, saving, and investing is important but it’s a careful balance to not let it consume every little decision you make. 

Obsessing Over Money Causes Problems 

While we may all strive for money or financial peace, obsessing over money and making money can really cause problems in your life.

When you focus all your time on money and trying to acquire more of it, you can end up destroying your relationships with family and friends. It can also lead you down a path of unethical behavior (see once again, Bernie Madoff) or criminal activities just to get more money.

Having an obsession with money is a destructive disorder that can ruin your life and others. Sure, you may have all the money in the world, but if you trampled over everyone, who is going to be next to you enjoying life? No one or not anyone that you would trust to genuinely care about you and not your wealth.

Making Money Can Cause More Stress 

Not only can money help reduce financial stress, but it can also cause more unwanted stress too. Funny how that works, ain’t it?

For those where money is never enough, no matter how much they have — it actually can create more stress.

You find yourself working crazy hours every week, spending every waking moment thinking about money, and even getting anxious over your efforts for more. That stress not only takes a toll on your mental and physical health but affects those around your like family and co-workers.

Can Create More Family Disagreements 

In a MarketWatch article , they mentioned that TD Ameritrade found that 41% of divorced Gen Xers and 29% of Boomers say they ended their marriage due to disagreements about money.

While these numbers are just a few years old, money continues to be a common cause for disagreements and arguments among spouses and families.

If you are not on the same page with your spouse or family, money will certainly be a common friction point. And you certainly won’t be in agreement ALL the time, but having similar values and thoughts about money can limit the disagreements.

How Much Money Is Enough?  

As you can see from above, there is nothing wrong with the pursuit of financial independence and money. But there can be downsides as well.

The issue begins when you let greed consume you and find yourself doing whatever it takes to make more money. This is when you start to hurt people, alienate friends and family, and end up in a self-destructive path. 

The question you have to truly ask yourself is how much money is enough? 

For many looking to pursue financial freedom , that number of how much is enough comes to 25x of yearly expenses. So say your expenses are $30,000 per year, you’d ideally want to have $750,000 saved and invested. 

This is the best baseline when evaluating why money is important to you and how much should be enough. It’s a good goal and amount where you can live happily and be comfortable in life. 

For some people, that 25x goal seems like more than enough, not everyone needs to be like Warren Buffett or the next Jeff Bezos. And for others, they would never be satisfied with that amount.

Happiness fades after a certain amount 

It’s a great idea to have a budget, financial goals, and maybe a net worth number you are striving to achieve. That’s never a bad thing! 

But often it’s easy to get into a whirlwind of bad spending habits or needing more and more, never being satisfied with what you have. 

In a fascinating research topic, High income improves evaluation of life but not emotional well-being by Daniel Kahneman and Angus Deaton, the authors explore the impact of money on your overall well-being. 

Essentially, the key findings from their research were that money can keep increasing satisfaction up to any amount, but money only has an affect on your overall happiness up to an annual income of $75,000. 

While the research goes much more in-depth and is from 2010, something to keep in mind as you pursue money and think about your finances. 

Final Thoughts

Health and family are some of the most important things in life. If you have those two things, then you are living a pretty rich life. But there is no denying the importance of money and that it can create better life opportunities.

Naturally, money won’t solve all your problems and if you were an unhappy person prior to money, then gaining some wealth may only be a temporary solution. 

The real opportunity is to find the right balance where you see money as important, but a tool that can help you create better life experiences and opportunities.

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Importance of Money Essay - 100, 200, 500 Words

Money is a commodity accepted by general consent as a medium of economic exchange. It is the principal measure of wealth. It is any good that is widely used and accepted in transactions. Human life will have a lot of changes with the presence and absence of money. Money has become the most vital part of life.

100 Words Essay On Importance Of Money

Money is a critical factor in our lives as it helps us to meet our basic needs and desires. It provides us with a sense of security and helps us to plan for the future. Money enables us to buy food, shelter, and clothing, and to access healthcare and education. Additionally, it provides us with the means to enjoy leisure activities and to travel. Money is also important in terms of personal and professional development, as it allows individuals to invest in themselves and their careers. Furthermore, money plays a crucial role in the economy, as it is used for transactions and for saving and investing.

200 Word Essay On Importance Of Money

The status of a person in society is impacted by how much money they have. We all desire financial success either b y working hard or succeeding in business. However, only a few people seize the opportunity to realise their dream of becoming a millionaire. Money also provides a measure of economic stability, as it allows for the management of inflation and the allocation of resources. On a personal level, money helps to meet basic needs and provide a sense of security, allowing individuals to plan for the future and pursue their goals and aspirations.

Everyone needs money, no matter how wealthy they are. Knowing the value of money in our lives helps us to avoid wasting or squandering it for any reason. The only reason for all the changes and variations in life is money. From the moment we begin till the moment we go to sleep, everything that happens in between requires the use of money. However, it is important to remember that money is not everything, and that true happiness and fulfillment come from other sources such as relationships, personal growth, and contributing to the community. Money is important, but it should not be the driving force in one's life.

500 Word Essay On Importance Of Money

Creation of money.

People bartered for goods and services before money was invented. About 5000 years ago, the Mesopotamian people created the shekel. This is considered the first known form of currency. Around 650 to 600 BC, gold & silver coins were stamped and used to pay armies. From then to now, money's importance has been increasing daily.

Origin of money

The word money is derived from the Latin word "Moneta" . Moneta means coin . In the ancient world, Juno was often associated with money.

Types of Money

There are seven types of money—representative, fair, paper, commodity, coinage, digital and commercial bank money . This money is used for exchange depending on their need and requirement.

Properties of money

The different properties of money are durability, divisibility, portability, uniformity, acceptability and limited supply. Having such unique and essential properties adds value to money.

Basic Need For Money

No matter their financial situation, everyone needs money. Money is required for many things, including purchasing clothing, housing, food, and other necessities. It's imperative to satisfy these needs. Our personal and societal well-being will suffer severely if we don't have enough money to achieve it.

Uses of money

In reality, we can say there are only five main uses for money

We can use it to live.

We can give it.

We can pay taxes.

We can repay debt and

We can save or grow it.

Power Of Money

Money has significant power to rule human life. It provides people with the ability to have the freedom to do what they want, be who they want and go where they want. Life with money will have success, freedom, choice, security, happiness and many more. Without money, we would be reduced to a barter economy. For every penny we spend in life, we need to think twice about whether it is worth it. Life without money shows us what adjustment is, what scarcity or starving for food is.

Impact Of Money

Money has a significant impact on our lives, influencing various aspects such as:

Basic necessities: Money allows us to meet our basic needs such as food, shelter, clothing, and healthcare.

Security: Having a stable source of income provides financial security, allowing us to plan for the future and reducing stress.

Career and personal development: Money provides the means for individuals to invest in themselves and their careers, allowing for personal growth and professional advancement.

Lifestyle: Money affects our lifestyle and the choices we make, from the type of home we live in to the leisure activities we pursue.

Relationships: Money can influence relationships, as disagreements over financial issues are common and can cause stress and tension.

Social status: Money affects social status, as income and wealth can determine access to certain opportunities and experiences.

Mental well-being: Money has a significant impact on mental health, as financial stress and insecurity can cause anxiety and depression.

In conclusion, money affects many aspects of our lives and has the potential to greatly impact our well-being, both positively and negatively. It is important to manage money wisely and to strive for financial stability while also balancing other important aspects of life.

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Remote sensing scientists use remote sensing technology to support scientists in fields such as community planning, flight planning or the management of natural resources. Analysing data collected from aircraft, satellites or ground-based platforms using statistical analysis software, image analysis software or Geographic Information Systems (GIS) is a significant part of their work. Do you want to learn how to become remote sensing technician? There's no need to be concerned; we've devised a simple remote sensing technician career path for you. Scroll through the pages and read.

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Budget analysis, in a nutshell, entails thoroughly analyzing the details of a financial budget. The budget analysis aims to better understand and manage revenue. Budget analysts assist in the achievement of financial targets, the preservation of profitability, and the pursuit of long-term growth for a business. Budget analysts generally have a bachelor's degree in accounting, finance, economics, or a closely related field. Knowledge of Financial Management is of prime importance in this career.

Underwriter

An underwriter is a person who assesses and evaluates the risk of insurance in his or her field like mortgage, loan, health policy, investment, and so on and so forth. The underwriter career path does involve risks as analysing the risks means finding out if there is a way for the insurance underwriter jobs to recover the money from its clients. If the risk turns out to be too much for the company then in the future it is an underwriter who will be held accountable for it. Therefore, one must carry out his or her job with a lot of attention and diligence.

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Operations Manager

Individuals in the operations manager jobs are responsible for ensuring the efficiency of each department to acquire its optimal goal. They plan the use of resources and distribution of materials. The operations manager's job description includes managing budgets, negotiating contracts, and performing administrative tasks.

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A Researcher is a professional who is responsible for collecting data and information by reviewing the literature and conducting experiments and surveys. He or she uses various methodological processes to provide accurate data and information that is utilised by academicians and other industry professionals. Here, we will discuss what is a researcher, the researcher's salary, types of researchers.

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Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

Transportation Planner

A career as Transportation Planner requires technical application of science and technology in engineering, particularly the concepts, equipment and technologies involved in the production of products and services. In fields like land use, infrastructure review, ecological standards and street design, he or she considers issues of health, environment and performance. A Transportation Planner assigns resources for implementing and designing programmes. He or she is responsible for assessing needs, preparing plans and forecasts and compliance with regulations.

Environmental Engineer

Individuals who opt for a career as an environmental engineer are construction professionals who utilise the skills and knowledge of biology, soil science, chemistry and the concept of engineering to design and develop projects that serve as solutions to various environmental problems. 

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A Safety Manager is a professional responsible for employee’s safety at work. He or she plans, implements and oversees the company’s employee safety. A Safety Manager ensures compliance and adherence to Occupational Health and Safety (OHS) guidelines.

Conservation Architect

A Conservation Architect is a professional responsible for conserving and restoring buildings or monuments having a historic value. He or she applies techniques to document and stabilise the object’s state without any further damage. A Conservation Architect restores the monuments and heritage buildings to bring them back to their original state.

Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

Highway Engineer

Highway Engineer Job Description:  A Highway Engineer is a civil engineer who specialises in planning and building thousands of miles of roads that support connectivity and allow transportation across the country. He or she ensures that traffic management schemes are effectively planned concerning economic sustainability and successful implementation.

Field Surveyor

Are you searching for a Field Surveyor Job Description? A Field Surveyor is a professional responsible for conducting field surveys for various places or geographical conditions. He or she collects the required data and information as per the instructions given by senior officials. 

Orthotist and Prosthetist

Orthotists and Prosthetists are professionals who provide aid to patients with disabilities. They fix them to artificial limbs (prosthetics) and help them to regain stability. There are times when people lose their limbs in an accident. In some other occasions, they are born without a limb or orthopaedic impairment. Orthotists and prosthetists play a crucial role in their lives with fixing them to assistive devices and provide mobility.

Pathologist

A career in pathology in India is filled with several responsibilities as it is a medical branch and affects human lives. The demand for pathologists has been increasing over the past few years as people are getting more aware of different diseases. Not only that, but an increase in population and lifestyle changes have also contributed to the increase in a pathologist’s demand. The pathology careers provide an extremely huge number of opportunities and if you want to be a part of the medical field you can consider being a pathologist. If you want to know more about a career in pathology in India then continue reading this article.

Veterinary Doctor

Speech therapist, gynaecologist.

Gynaecology can be defined as the study of the female body. The job outlook for gynaecology is excellent since there is evergreen demand for one because of their responsibility of dealing with not only women’s health but also fertility and pregnancy issues. Although most women prefer to have a women obstetrician gynaecologist as their doctor, men also explore a career as a gynaecologist and there are ample amounts of male doctors in the field who are gynaecologists and aid women during delivery and childbirth. 

Audiologist

The audiologist career involves audiology professionals who are responsible to treat hearing loss and proactively preventing the relevant damage. Individuals who opt for a career as an audiologist use various testing strategies with the aim to determine if someone has a normal sensitivity to sounds or not. After the identification of hearing loss, a hearing doctor is required to determine which sections of the hearing are affected, to what extent they are affected, and where the wound causing the hearing loss is found. As soon as the hearing loss is identified, the patients are provided with recommendations for interventions and rehabilitation such as hearing aids, cochlear implants, and appropriate medical referrals. While audiology is a branch of science that studies and researches hearing, balance, and related disorders.

An oncologist is a specialised doctor responsible for providing medical care to patients diagnosed with cancer. He or she uses several therapies to control the cancer and its effect on the human body such as chemotherapy, immunotherapy, radiation therapy and biopsy. An oncologist designs a treatment plan based on a pathology report after diagnosing the type of cancer and where it is spreading inside the body.

Are you searching for an ‘Anatomist job description’? An Anatomist is a research professional who applies the laws of biological science to determine the ability of bodies of various living organisms including animals and humans to regenerate the damaged or destroyed organs. If you want to know what does an anatomist do, then read the entire article, where we will answer all your questions.

For an individual who opts for a career as an actor, the primary responsibility is to completely speak to the character he or she is playing and to persuade the crowd that the character is genuine by connecting with them and bringing them into the story. This applies to significant roles and littler parts, as all roles join to make an effective creation. Here in this article, we will discuss how to become an actor in India, actor exams, actor salary in India, and actor jobs. 

Individuals who opt for a career as acrobats create and direct original routines for themselves, in addition to developing interpretations of existing routines. The work of circus acrobats can be seen in a variety of performance settings, including circus, reality shows, sports events like the Olympics, movies and commercials. Individuals who opt for a career as acrobats must be prepared to face rejections and intermittent periods of work. The creativity of acrobats may extend to other aspects of the performance. For example, acrobats in the circus may work with gym trainers, celebrities or collaborate with other professionals to enhance such performance elements as costume and or maybe at the teaching end of the career.

Video Game Designer

Career as a video game designer is filled with excitement as well as responsibilities. A video game designer is someone who is involved in the process of creating a game from day one. He or she is responsible for fulfilling duties like designing the character of the game, the several levels involved, plot, art and similar other elements. Individuals who opt for a career as a video game designer may also write the codes for the game using different programming languages.

Depending on the video game designer job description and experience they may also have to lead a team and do the early testing of the game in order to suggest changes and find loopholes.

Radio Jockey

Radio Jockey is an exciting, promising career and a great challenge for music lovers. If you are really interested in a career as radio jockey, then it is very important for an RJ to have an automatic, fun, and friendly personality. If you want to get a job done in this field, a strong command of the language and a good voice are always good things. Apart from this, in order to be a good radio jockey, you will also listen to good radio jockeys so that you can understand their style and later make your own by practicing.

A career as radio jockey has a lot to offer to deserving candidates. If you want to know more about a career as radio jockey, and how to become a radio jockey then continue reading the article.

Choreographer

The word “choreography" actually comes from Greek words that mean “dance writing." Individuals who opt for a career as a choreographer create and direct original dances, in addition to developing interpretations of existing dances. A Choreographer dances and utilises his or her creativity in other aspects of dance performance. For example, he or she may work with the music director to select music or collaborate with other famous choreographers to enhance such performance elements as lighting, costume and set design.

Social Media Manager

A career as social media manager involves implementing the company’s or brand’s marketing plan across all social media channels. Social media managers help in building or improving a brand’s or a company’s website traffic, build brand awareness, create and implement marketing and brand strategy. Social media managers are key to important social communication as well.

Photographer

Photography is considered both a science and an art, an artistic means of expression in which the camera replaces the pen. In a career as a photographer, an individual is hired to capture the moments of public and private events, such as press conferences or weddings, or may also work inside a studio, where people go to get their picture clicked. Photography is divided into many streams each generating numerous career opportunities in photography. With the boom in advertising, media, and the fashion industry, photography has emerged as a lucrative and thrilling career option for many Indian youths.

An individual who is pursuing a career as a producer is responsible for managing the business aspects of production. They are involved in each aspect of production from its inception to deception. Famous movie producers review the script, recommend changes and visualise the story. 

They are responsible for overseeing the finance involved in the project and distributing the film for broadcasting on various platforms. A career as a producer is quite fulfilling as well as exhaustive in terms of playing different roles in order for a production to be successful. Famous movie producers are responsible for hiring creative and technical personnel on contract basis.

Copy Writer

In a career as a copywriter, one has to consult with the client and understand the brief well. A career as a copywriter has a lot to offer to deserving candidates. Several new mediums of advertising are opening therefore making it a lucrative career choice. Students can pursue various copywriter courses such as Journalism , Advertising , Marketing Management . Here, we have discussed how to become a freelance copywriter, copywriter career path, how to become a copywriter in India, and copywriting career outlook. 

In a career as a vlogger, one generally works for himself or herself. However, once an individual has gained viewership there are several brands and companies that approach them for paid collaboration. It is one of those fields where an individual can earn well while following his or her passion. 

Ever since internet costs got reduced the viewership for these types of content has increased on a large scale. Therefore, a career as a vlogger has a lot to offer. If you want to know more about the Vlogger eligibility, roles and responsibilities then continue reading the article. 

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication) , B.M.M. (Bachelor of Mass Media) , or  MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

Production Manager

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

ITSM Manager

Automation test engineer.

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

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Essays About Money: Top 5 Examples and 6 Prompts

With money comes great power; however, power must always come with responsibility. Discover thought-provoking essays about money in our guide.

Money is everywhere. We use it to eat, drink, clothe ourselves, and get shelter, among many other uses. Nowadays, it is an undisputed fact that “money makes the world go round.” The earliest known form of money dates back to around 5,000 years ago ; trade was previously carried out using a barter system. However, over the centuries, more and more nations began implementing a currency system, and money has become more critical. 

In the contemporary world, it seems to be “all about money.” However, it is important not to lose sight of what is important; we must maintain good physical and mental health and healthy relationships with the people around us. Money is necessary; it is just not the only thing necessary. To start your essay, read these examples to write insightful essays about money. 

5 Top Examples On Essay About Money

1. essay on money by prasanna, 2. how money changed human history by jacob wilkins, 3. capitalism: money that make money by ernestine montgomery, 4.  is money the most important thing by seth higgins.

• 5. ​​An Introduction to Saving Money by Jeremy Vohwinkle

Writing Prompts For Essays About Money

1. good uses for money, 2. the “dark side” of money, 3. money’s role in history, 4. morality vs. money, 5. can money buy happiness, 6. how to save money.

“Imagine the world without money. We will eventually come to a point where we will be asking questions like “what’s the point of life”. Hope and goals are some of the important things that will keep a man going in life. Without any sense of achievement or motivation, there wouldn’t be any inventions or progress in the world. People work to get money and then people work harder to get more money. This cycle of life that keeps a man motivated and hopeful is one of the biggest advantages of the system of money”

This essay gives readers a general outlook on money and its advantages and disadvantages. It gives people equal opportunity to work for their dreams and motivates them to be productive members of society, while it also raises the question of greed. Money, without a doubt, has its positive and negative aspects, but it exists and is only becoming more critical.

“But the barter economy was flawed. There was no universal measure for determining the value of an item. It was all based on the subjective opinion of the individuals involved. And to make matters worse, the barter economy relied on both sides wanting something the other had to offer. Trade, therefore, could be sluggish and frustrating. Human beings needed something different, and money was the answer.”

Wilkins writes about how money revolutionized the way trade was conducted. The barter system involved trading any objects if both parties agreed to a deal, such as trading animal skins for fish or medicine for timber. However, the only measure of an item’s value was how much one party wanted it- both sides needed to have something the other wanted. The introduction of money allowed people to put a solid value on commodities, making trade easier.  

“So, if you were to closely observe the dirty, disordered canvas of economic progress during the 20th and 21 st century, you should conclude that, for all its warts, capitalism has been the winner. It has sometimes caused pain; suffered from serious cycles; and often needed the clout of the state- such as we have seen from September 2008. It has also been quite resistant to sensible regulation. Even so, the basic institutions of capitalism have worked, not just in the US and the OECD (Organization for Economic Co-operation and development) nations, but also many developing countries, of which India is one.”

Albeit lengthy, Montgomery’s essay discusses the debate between socialism and capitalism, a topic of which money is at the core. Montgomery describes Karl Marx’s criticism of capitalism: all the money goes to a few people, not the workers. She believes these are valid to an extent and criticizes certain forms of capitalism and socialism. Neither capitalism nor socialism is perfect, but according to Montgomery, capitalism creates a better economy. 

“Being the richest man in the world does not mean you are the happiest man in the world, although money can buy you happiness sometimes, but not always. If we could all appreciate the way life is, the fun, and the beauty I think the world would be better. If people weren’t power hungry maybe we’d have a lesser demand for money. Those people who is money hungry and power hungry need to relax. Money can’t buy you happiness. These individuals need to understand that.”

Higgins implores readers to remember that money is not the only thing people need in the world. He stresses the necessity of money, as it is used to pay for various necessary goods and services; however, he believes it is not a prerequisite for happiness. Material things are temporary, and there are other things we should focus on, like family and friends. 

5. ​​ An Introduction to Saving Money by Jeremy Vohwinkle

“A financial emergency may take the form of a job loss, significant medical or dental expense, unexpected home or auto repairs, a hurricane or major storm, or something unthinkable, such as a global pandemic. The last thing you want to do is to rely on credit cards with their hefty interest fees or to be forced to take out a loan. That’s where your emergency fund can come in handy. Historically, the formula for an emergency account is to have enough readily available cash to cover three to six months of living expenses.“

Vohwinkle’s essay gives readers some suggestions on how to save more money. Most importantly, he suggests setting up an emergency fund, as all other saving techniques stem from there. He also suggests creating an automatic savings plan and cutting down on “spending leaks,” like buying coffee. You might also be interested in these essays about celebration .

In this essay, write about why money is necessary and the ways to use it for the greater good, and include ways in which it can be used (investing, donating, etc.). For each point, you make, be sure to explain why. Of course, this is entirely subjective; feel free to write about what you consider “good uses” for money. 

On the other hand, money also has a negative side —research on money-related issues, such as taxpayer-funded corruption and trading of illegal goods. In your essay, explore this side of money and perhaps give solutions on how to stop these problems. 

Money has played a progressively more important role throughout human history. Discuss the development of currency and the economy, from the barter system to the digital world we live in today. You need not go too in-depth, as there is a lot of ground to cover and many eras to research. Be sure to cite reputable sources when discussing history. 

Many people warn of “selling your soul” for financial gain. In your essay, you can write about the importance of having solid values in this day and age, where money reigns supreme. What principles do you need to keep in mind? Explain how you can still value money while staying grounded; mention the balance between material needs and others. 

As stated in Higgins’ essay, more people have begun to prioritize money over all else. Do you believe that money is truly the most important thing? Can it alone make you happy? Discuss both sides of this question and choose your position accordingly. Be sure to provide precise supporting details for a stronger argument. 

Enumerate tips on how you can save money. Anything works, from saving certain things for special occasions to buying more food in the grocery rather than eating out. This is your opinion; however, feel free to consult online sources and the people around you for extra advice. 

For help with your essays, check out our round-up of the best essay checkers .If you’re still stuck, check out our general resource of essay writing topics .

Martin is an avid writer specializing in editing and proofreading. He also enjoys literary analysis and writing about food and travel.

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Does More Money Really Make Us More Happy?

• Elizabeth Dunn
• Chris Courtney

A big paycheck won’t necessarily bring you joy

Although some studies show that wealthier people tend to be happier, prioritizing money over time can actually have the opposite effect.

• But even having just a little bit of extra cash in your savings account ($500), can increase your life satisfaction. So how can you keep more cash on hand?
• Ask yourself: What do I buy that isn’t essential for my survival? Is the expense genuinely contributing to my happiness? If the answer to the second question is no, try taking a break from those expenses.
• Other research shows there are specific ways to spend your money to promote happiness, such as spending on experiences, buying time, and investing in others.
• Spending choices that promote happiness are also dependent on individual personalities, and future research may provide more individualized advice to help you get the most happiness from your money.

Where your work meets your life. See more from Ascend here .

How often have you willingly sacrificed your free time to make more money? You’re not alone. But new research suggests that prioritizing money over time may actually undermine our happiness.

• ED Elizabeth Dunn is a professor of psychology at the University of British Columbia and Chief Science Officer of Happy Money, a financial technology company with a mission to help borrowers become savers. She is also co-author of “ Happy Money: The Science of Happier Spending ” with Dr. Michael Norton. Her TED2019 talk on money and happiness was selected as one of the top 10 talks of the year by TED.
• CC Chris Courtney is the VP of Science at Happy Money. He utilizes his background in cognitive neuroscience, human-computer interaction, and machine learning to drive personalization and engagement in products designed to empower people to take control of their financial lives. His team is focused on creating innovative ways to provide more inclusionary financial services, while building tools to promote financial and psychological well-being and success.

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Can Money Really Buy Happiness?

Money and happiness are related—but not in the way you think..

Updated November 10, 2023 | Reviewed by Chloe Williams

• More money is linked to increased happiness, some research shows.
• People who won the lottery have greater life satisfaction, even years later.
• Wealth is not associated with happiness globally; non-material things are more likely to predict wellbeing.
• Money, in and of itself, cannot buy happiness, but it can provide a means to the things we value in life.

Money is a big part of our lives, our identities, and perhaps our well-being. Sometimes, it can feel like your happiness hinges on how much cash is in your bank account. Have you ever thought to yourself, “If only I could increase my salary by 12 percent, I’d feel better”? How about, “I wish I had an inheritance. How easier life would be!” I don’t blame you — I’ve had the same thoughts many times.

But what does psychological research say about the age-old question: Can money really buy happiness? Let’s take a brutally honest exploration of how money and happiness are (and aren’t) related. (Spoiler alert: I’ve got bad news, good news, and lots of caveats.)

Higher earners are generally happier

Over 10 years ago, a study based on Gallup Poll data on 1,000 people made a big headline in the news. It found that people with higher incomes report being happier... but only up to an annual income of $75,000 (equivalent to about $90,000 today). After this point, a high emotional well-being wasn’t directly correlated to more money. This seemed to show that once a persons’ basic (and some “advanced”) needs are comfortably met, more money isn’t necessary for well-being.

But a new 2021 study of over one million participants found that there’s no such thing as an inflection point where more money doesn’t equal more happiness, at least not up to an annual salary of $500,000. In this study, participants’ well-being was measured in more detail. Instead of being asked to remember how well they felt in the past week, month, or year, they were asked how they felt right now in the moment. And based on this real-time assessment, very high earners were feeling great.

Similarly, a Swedish study on lottery winners found that even after years, people who won the lottery had greater life satisfaction, mental health, and were more prepared to face misfortune like divorce , illness, and being alone than regular folks who didn’t win the lottery. It’s almost as if having a pile of money made those things less difficult to cope with for the winners.

Evaluative vs. experienced well-being

At this point, it's important to suss out what researchers actually mean by "happiness." There are two major types of well-being psychologists measure: evaluative and experienced. Evaluative well-being refers to your answer to, “How do you think your life is going?” It’s what you think about your life. Experienced well-being, however, is your answer to, “What emotions are you feeling from day to day, and in what proportions?” It is your actual experience of positive and negative emotions.

In both of these studies — the one that found the happiness curve to flatten after $75,000 and the one that didn't — the researchers were focusing on experienced well-being. That means there's a disagreement in the research about whether day-to-day experiences of positive emotions really increase with higher and higher incomes, without limit. Which study is more accurate? Well, the 2021 study surveyed many more people, so it has the advantage of being more representative. However, there is a big caveat...

Material wealth is not associated with happiness everywhere in the world

If you’re not a very high earner, you may be feeling a bit irritated right now. How unfair that the rest of us can’t even comfort ourselves with the idea that millionaires must be sad in their giant mansions!

But not so fast.

Yes, in the large million-person study, experienced well-being (aka, happiness) did continually increase with higher income. But this study only included people in the United States. It wouldn't be a stretch to say that our culture is quite materialistic, more so than other countries, and income level plays a huge role in our lifestyle.

Another study of Mayan people in a poor, rural region of Yucatan, Mexico, did not find the level of wealth to be related to happiness, which the participants had high levels of overall. Separately, a Gallup World Poll study of people from many countries and cultures also found that, although higher income was associated with higher life evaluation, it was non-material things that predicted experienced well-being (e.g., learning, autonomy, respect, social support).

Earned wealth generates more happiness than inherited wealth

More good news: For those of us with really big dreams of “making it” and striking it rich through talent and hard work, know that the actual process of reaching your dream will not only bring you cash but also happiness. A study of ultra-rich millionaires (net worth of at least $8,000,000) found that those who earned their wealth through work and effort got more of a happiness boost from their money than those who inherited it. So keep dreaming big and reaching for your entrepreneurial goals … as long as you’re not sacrificing your actual well-being in the pursuit.

There are different types of happiness, and wealth is better for some than others

We’ve been talking about “happiness” as if it’s one big thing. But happiness actually has many different components and flavors. Think about all the positive emotions you’ve felt — can we break them down into more specifics? How about:

• Contentment
• Gratefulness

...and that's just a short list.

It turns out that wealth may be associated with some of these categories of “happiness,” specifically self-focused positive emotions such as pride and contentment, whereas less wealthy people have more other-focused positive emotions like love and compassion.

In fact, in the Swedish lottery winners study, people’s feelings about their social well-being (with friends, family, neighbors, and society) were no different between lottery winners and regular people.

Money is a means to the things we value, not happiness itself

One major difference between lottery winners and non-winners, it turns out, is that lottery winners have more spare time. This is the thing that really makes me envious , and I would hypothesize that this is the main reason why lottery winners are more satisfied with their life.

Consider this simply: If we had the financial security to spend time on things we enjoy and value, instead of feeling pressured to generate income all the time, why wouldn’t we be happier?

This is good news. It’s a reminder that money, in and of itself, cannot literally buy happiness. It can buy time and peace of mind. It can buy security and aesthetic experiences, and the ability to be generous to your family and friends. It makes room for other things that are important in life.

In fact, the researchers in that lottery winner study used statistical approaches to benchmark how much happiness winning $100,000 brings in the short-term (less than one year) and long-term (more than five years) compared to other major life events. For better or worse, getting married and having a baby each give a bigger short-term happiness boost than winning money, but in the long run, all three of these events have the same impact.

What does this mean? We make of our wealth and our life what we will. This is especially true for the vast majority of the world made up of people struggling to meet basic needs and to rise out of insecurity. We’ve learned that being rich can boost your life satisfaction and make it easier to have positive emotions, so it’s certainly worth your effort to set goals, work hard, and move towards financial health.

But getting rich is not the only way to be happy. You can still earn health, compassion, community, love, pride, connectedness, and so much more, even if you don’t have a lot of zeros in your bank account. After all, the original definition of “wealth” referred to a person’s holistic wellness in life, which means we all have the potential to be wealthy... in body, mind, and soul.

Kahneman, D., & Deaton, A.. High income improves evaluation of life but not emotional well-being. . Proceedings of the national academy of sciences. 2010.

Killingsworth, M. A. . Experienced well-being rises with income, even above $75,000 per year .. Proceedings of the National Academy of Sciences. 2021.

Lindqvist, E., Östling, R., & Cesarini, D. . Long-run effects of lottery wealth on psychological well-being. . The Review of Economic Studies. 2020.

Guardiola, J., González‐Gómez, F., García‐Rubio, M. A., & Lendechy‐Grajales, Á.. Does higher income equal higher levels of happiness in every society? The case of the Mayan people. . International Journal of Social Welfare. 2013.

Diener, E., Ng, W., Harter, J., & Arora, R. . Wealth and happiness across the world: material prosperity predicts life evaluation, whereas psychosocial prosperity predicts positive feeling. . Journal of personality and social psychology. 2010.

Donnelly, G. E., Zheng, T., Haisley, E., & Norton, M. I.. The amount and source of millionaires’ wealth (moderately) predict their happiness . . Personality and Social Psychology Bulletin. 2018.

Piff, P. K., & Moskowitz, J. P. . Wealth, poverty, and happiness: Social class is differentially associated with positive emotions.. Emotion. 2018.

Jade Wu, Ph.D., is a clinical health psychologist and host of the Savvy Psychologist podcast. She specializes in helping those with sleep problems and anxiety disorders.

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Money Is Important But It Is Not Everything It When Comes to Well-Being

Money is important but is it everything? Does money buy happiness? These questions come up frequently but what are the answers? A daily survey in 2010 of 1,000 US residents conducted by the Gallup Organization showed that emotional well-being improved with raising income but this relationship diminished and plateau with further increasing of income beyond a ‘satiation point.’ At the time of the study was reported, the satiation point where no further improvement of emotional well-being with increasing income was around $75,000. Participants’ daily emotional well-being (hedonic well-being or experienced happiness) was measured by answered to questions about emotional experiences the previous day (frequency and intensity of experiences of joy, fascination, anxiety, sadness, anger, stress, worry, affection that make one’s life pleasant or unpleasant) . The study also measured participants’ life satisfaction by having participants answer questions on their thoughts or evaluation about their daily life in a scale from 0 to 10. Interestingly at the same time period, participants’ income ‘satiation point’ where raising income further no longer changed participants’ life satisfaction was higher at around $120,000. This study pointed out that money is important but it is not everything when comes to well-being.

Every individual and family are not created equal. This study indirectly indicates the importance of lifestyle medicine. Happiness is not only limited to hedonia but also eudaimonia. Adhering to lifestyle medicine pillars guides us towards our overall well-being!

By: Rusly Harsono, MD & Maya Shetty, BS

Journal Reference :

• Kahneman, Daniel, and Angus Deaton. “High Income Improves Evaluation of Life but Not Emotional Well-being.”  Proceedings of the National Academy of Sciences of the United States of America , v. 107 ,.38 pp. 16489-16493. doi:  10.1073/pnas.1011492107

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How does valuing money affect your happiness, two new studies find that tying your self-worth to financial success hampers happiness and well-being—even for the well-off..

It may seem that money is a sure path to prestige and happiness. After all, many of our most well-paid citizens are held up as role models of success, leading seemingly perfect, enviable lives. Still, some people embrace the opposite idea: Money can’t buy you happiness. So, which of these is right?

In recent studies, scientists have found that the connection between wealth and well-being is not clear-cut. While some studies seem to tie wealth to well-being, others show that, after a certain point, a higher income will not bring more happiness or life satisfaction.

Now two new studies shed further light on the relationship between wealth and happiness. Their findings suggest that money doesn’t fulfill basic psychological needs, like belonging and competence. That’s why making more of it will not increase your happiness, even if you value money above other things. In fact, it may do the opposite.

What money can and can’t do for you

In one study , University of Buffalo researcher Lora Park and her colleagues investigated what happens when people tie their self-worth to financial success, scoring high on the “Financial Contingency of Self-Worth” scale, or FCWS. The researchers found that doing so made people engage in more social comparisons, experience more stress and anxiety, and feel less autonomy than those who didn’t tie their self-worth to income, regardless of their actual economic status.

“People in this society are often focused on pursuing money, and they don’t think there is anything bad about that,” says Park. “But in terms of your psychological well-being, there are all kinds of negative consequences.”

It also might affect your problem-solving ability. Park and her colleagues randomly assigned participants to write about their dissatisfaction with either an aspect of their financial situation—like not having enough money to pay rent—or their academic performance, like getting a bad test grade. Afterwards, they reported on what coping strategies they would use in response to the situation.

Research assistants analyzed the essays and found that participants who scored high in FCSW used more emotionally negative words and reported more disengagement strategies—like giving up or avoiding solutions—when writing about a financial stressor versus an academic stressor than people scoring low in FCSW. None of the results were affected by the actual income of the students.

People who are facing a problem should, logically, be focused on figuring out ways to solve it, says Park. “But what we found is that high financial contingency of self-worth somehow blocks that response.”

Why would this be?

Park believes that when people feel their self-concept is threatened in some way, they will become more self-protective so as not to experience low self-esteem. So, if your self-esteem is tied to money, a financial stressor will cause a lot more stress than it would for someone who doesn’t feel that way. Some support for her argument comes from another part of her experiment, where having participants high in FCSW remind themselves of their character strengths—like their intelligence or sense of humor—seemed to negate these avoidance effects.

Affirming Important Values

When your self-image takes a hit, reflect on what matters

“When people take a step back and have a broader perspective on their sense of self, that’s often enough to take them out of the self-esteem rumination/narrow focus they otherwise have,” says Park.

As prior research suggests, it can also be the case that people simply want money to do something that it cannot. “Self-esteem, like happiness, is a byproduct of meeting psychological needs—like meaning or purpose, feeling competent, having close relationships, or having a sense of autonomy—and basing your self-worth on financial success actually detracts from fulfilling those needs,” says Park.

Why community beats money

Park’s findings mirror other recent findings from the University of San Francisco’s Matthew Monnot, who studied financial success and well-being in China.

In his study , Monnot notes that, as China’s economy has grown, its citizens seem to be facing some of the same issues that Americans have faced. A growing number of people equate individual success with making more money and valuing money—an extrinsic reward—over other, more intrinsic rewards, like relationships or community. To see how this trend has affected well-being, he conducted a series of studies involving thousands of participants from several cities in China.

In one experiment, Monnot showed that job satisfaction did not rise in tandem with income. In fact, as with prior studies, wealth beyond a certain point tended to make Chinese workers no more satisfied with their jobs or their incomes, suggesting that money has only so much power to increase our life satisfaction.

“Our findings are pretty aligned with prior research,” says Monnot. “The correlation between income and job satisfaction is really small, to the extent that it predicts about five percent of job satisfaction.”

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To tease out why, Monnot looked at how individual values shape the relationship between money and income satisfaction. He asked participants to pick the five factors they thought were most important for well-being from a list of 25 possible choices—including income—and then measured how satisfied they were with their income as it rose. Though one might expect people valuing income to be happier as they made more money, Monnot found the opposite: People who picked income as an important value were significantly less satisfied, even at higher levels.

“If income is important to you, then income is actually less satisfying as income goes up than if income is not important to you,” he says.

Though this seems paradoxical, Monnot says it makes some sense, when you understand how intrinsic versus extrinsic values affect our happiness.

“Not all goals are equal in terms of producing well-being, productivity, job satisfaction, or life satisfaction,” says Monnot. “If you say income is something really important to you, because income is an extrinsic reward and not part of your intrinsic needs, if you focus on it, it won’t make you happy.”

In other words, look inside of yourself, not your wallet, for happiness.

Monnot was curious to see how living in different cities in China might affect the relationship between valuing income and well-being. After all, if the government is developing policies to increase income in certain areas of the country, it would be good to know the impact this is having on happiness.

Again, he had people pick out five things they valued; but this time he separated people into different groups depending on whether they placed high value on materialistic things, like income and status, and placed low value on relationships and community, or vice versa. When he compared these two groups, people who valued relationships or community versus materialistic things had greater job satisfaction and overall life satisfaction. This was true regardless of their city’s per-capita income.

“The big idea is that higher GDP or people having more money is all great—especially at a societal level. You want your economy to be more productive and to have more resources and money available,” says Monnot. “Well, maybe that’s not necessarily in and of itself something that’s going to produce a happier population.”

Both Monnot and Park hope that their research might lead people to think a bit differently about the supposed benefits of striving for more money. Though neither would deny that we need money to survive, valuing it too highly or tying it to your self-worth is clearly a mistake.

Monnot hopes his research might help individuals—and business leaders and policymakers—to realize that fulfilling psychological needs is more important to happiness than making a lot of money.


“Autonomy, developing a skill set to be good at what you do, being affiliative with others, having a sense of connection to your community—these are all things that we as researchers are fairly convinced are innate, evolved human tendencies that bring happiness,” he says.

“If you can get people to focus on fulfilling those needs, they’ll become happier. The research is strongly in favor of that.”

About the Author

Jill Suttie

Jill Suttie, Psy.D. , is Greater Good ’s former book review editor and now serves as a staff writer and contributing editor for the magazine. She received her doctorate of psychology from the University of San Francisco in 1998 and was a psychologist in private practice before coming to Greater Good .

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More Proof That Money Can Buy Happiness (or a Life with Less Stress)

When we wonder whether money can buy happiness, we may consider the luxuries it provides, like expensive dinners and lavish vacations. But cash is key in another important way: It helps people avoid many of the day-to-day hassles that cause stress, new research shows.

Money can provide calm and control, allowing us to buy our way out of unforeseen bumps in the road, whether it’s a small nuisance, like dodging a rainstorm by ordering up an Uber, or a bigger worry, like handling an unexpected hospital bill, says Harvard Business School professor Jon Jachimowicz.

“If we only focus on the happiness that money can bring, I think we are missing something,” says Jachimowicz, an assistant professor of business administration in the Organizational Behavior Unit at HBS. “We also need to think about all of the worries that it can free us from.”

The idea that money can reduce stress in everyday life and make people happier impacts not only the poor, but also more affluent Americans living at the edge of their means in a bumpy economy. Indeed, in 2019, one in every four Americans faced financial scarcity, according to the Board of Governors of the Federal Reserve System. The findings are particularly important now, as inflation eats into the ability of many Americans to afford basic necessities like food and gas, and COVID-19 continues to disrupt the job market.

Buying less stress

The inspiration for researching how money alleviates hardships came from advice that Jachimowicz’s father gave him. After years of living as a struggling graduate student, Jachimowicz received his appointment at HBS and the financial stability that came with it.

“My father said to me, ‘You are going to have to learn how to spend money to fix problems.’” The idea stuck with Jachimowicz, causing him to think differently about even the everyday misfortunes that we all face.

To test the relationship between cash and life satisfaction, Jachimowicz and his colleagues from the University of Southern California, Groningen University, and Columbia Business School conducted a series of experiments, which are outlined in a forthcoming paper in the journal Social Psychological and Personality Science , The Sharp Spikes of Poverty: Financial Scarcity Is Related to Higher Levels of Distress Intensity in Daily Life .

Higher income amounts to lower stress

In one study, 522 participants kept a diary for 30 days, tracking daily events and their emotional responses to them. Participants’ incomes in the previous year ranged from less than $10,000 to $150,000 or more. They found:

• Money reduces intense stress: There was no significant difference in how often the participants experienced distressing events—no matter their income, they recorded a similar number of daily frustrations. But those with higher incomes experienced less negative intensity from those events.
• More money brings greater control : Those with higher incomes felt they had more control over negative events and that control reduced their stress. People with ample incomes felt more agency to deal with whatever hassles may arise.
• Higher incomes lead to higher life satisfaction: People with higher incomes were generally more satisfied with their lives.

“It’s not that rich people don’t have problems,” Jachimowicz says, “but having money allows you to fix problems and resolve them more quickly.”

Why cash matters

In another study, researchers presented about 400 participants with daily dilemmas, like finding time to cook meals, getting around in an area with poor public transportation, or working from home among children in tight spaces. They then asked how participants would solve the problem, either using cash to resolve it, or asking friends and family for assistance. The results showed:

• People lean on family and friends regardless of income: Jachimowicz and his colleagues found that there was no difference in how often people suggested turning to friends and family for help—for example, by asking a friend for a ride or asking a family member to help with childcare or dinner.
• Cash is the answer for people with money: The higher a person’s income, however, the more likely they were to suggest money as a solution to a hassle, for example, by calling an Uber or ordering takeout.

While such results might be expected, Jachimowicz says, people may not consider the extent to which the daily hassles we all face create more stress for cash-strapped individuals—or the way a lack of cash may tax social relationships if people are always asking family and friends for help, rather than using their own money to solve a problem.

“The question is, when problems come your way, to what extent do you feel like you can deal with them, that you can walk through life and know everything is going to be OK,” Jachimowicz says.

Breaking the ‘shame spiral’

In another recent paper , Jachimowicz and colleagues found that people experiencing financial difficulties experience shame, which leads them to avoid dealing with their problems and often makes them worse. Such “shame spirals” stem from a perception that people are to blame for their own lack of money, rather than external environmental and societal factors, the research team says.

“We have normalized this idea that when you are poor, it’s your fault and so you should be ashamed of it,” Jachimowicz says. “At the same time, we’ve structured society in a way that makes it really hard on people who are poor.”

For example, Jachimowicz says, public transportation is often inaccessible and expensive, which affects people who can’t afford cars, and tardy policies at work often penalize people on the lowest end of the pay scale. Changing those deeply-engrained structures—and the way many of us think about financial difficulties—is crucial.

After all, society as a whole may feel the ripple effects of the financial hardships some people face, since financial strain is linked with lower job performance, problems with long-term decision-making, and difficulty with meaningful relationships, the research says. Ultimately, Jachimowicz hopes his work can prompt thinking about systemic change.

“People who are poor should feel like they have some control over their lives, too. Why is that a luxury we only afford to rich people?” Jachimowicz says. “We have to structure organizations and institutions to empower everyone.”

[Image: iStockphoto/mihtiander]

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Why Money Is Important: Benefits & Downsides Case Study

Money has many names that people in many cultures use to refer to it. Examples of such names are dosh, bread, and readies, among others. From a historical point of view, money was associated with many issues. For example, Christians assert that people who love money could be headed to the devil.

The notion originated from the Bible because the person who made Jesus suffer on the cross was enticed by the love of money to forsake Jesus. Also, generals in wars and revolutionaries have been calling money the shackles of labor. Therefore, it can be deduced that money has a long history on the earth (Ferguson 2). The historical views with regard to money will continue in the future because generations are taught about how money was used.

The importance of money cannot be overstated. Almost everything is being said with reference to money. For example, it was estimated that the average American’s income improved by about 5% in 2007.

Also, the cost of living increased by about 4.1% (Ferguson 2). Therefore, it could be concluded that the earning of the average American improved by an exact figure of 0.9 percent. Also, in 2007, Goldman’s net profit was more than what more than 100 countries across the world used as their GDP. Such countries were Serbia, Slovenia, and Tunisia, among others (Ferguson 2).

The gap between the rich and the poor has been widening over the years. The rich have been branded fat-cat capitalists who cannot give the poor a chance to become rich. Instead, the rich use the poor to get richer. Lenders have been accused of being parasitic. Three reasons could be utilized to explain the parasitical phenomenon. First, the number of debtors has always been higher than that of creditors. Second, financial crises make money seem to be the cause of poverty.

Thus, the poor are always trying to run away from poverty conditions by amassing money. Third, for many centuries, financial lending services were offered by the minority who did not have vast amounts of land or good jobs. However, they accumulated their finances from the tight-knit networks they enjoyed on the basis of kinship and trust (Ferguson 4).

Despite the bad image associated with money, it appears that finances are the roots of progress of people across the world (Mittelman 158). People have been using various approaches in order to obtain money, which could make them progress in life. For example, it has been reported that savings of widows were used in gambling (Ferguson 6).

The intention of gambling with such money was to multiply it and make widows sustain their lives. Therefore, financial innovation has been a critical attribute toward the progress of the mankind (Mittelman 160).

It is argued that all historical phenomena were associated with money. A very good example to illustrate the above statement is the French monarchy. The problems that affected the French monarchy were difficult to solve because the French financial system was disrupted by a Scots murderer. The disruption caused the first stock market bubble and bust (Ferguson 7).

A significant number of people living in safest countries across the world are insured. One cannot stop to wonder why are insured yet their countries are safe for human existence. However, the observation further illustrates the influence of money. The poor are struggling financially while the rich are perfecting the actions of mastering the universe (Ferguson 10; Campbell 1089).

In a world that is characterized by too many phenomena with regard to the use of money, it is important to understand the origin of money and why it is important in human lives (Campbell 1090).. In fact, an individual cannot survive without money in the modern world because everything is bought using money.

How my thoughts have evolved

An understanding of money has made me evolve my thinking with regard to money. I have learned that finances are everything in life. In fact, if a person aspires to live a quality life, then he or she could require adequate money. Money translates to excellent schooling for children, colorful weddings, expensive cars, magnificent houses, and quality clothing, among others.

My thinking has changed to the extent of accepting the notion that the only thing that money cannot purchase is life. Money can be used to attain quality healthcare that prolongs a person’s life on the earth. However, it cannot be used to renew body organs that disintegrate to culminate in death.

In conclusion, money has been used for many centuries to make the mankind progress. The prosperity of human beings and countries across the world is on the premises of their financial abilities. In order for people to live comfortable lives, they need to acquire good cash. Good finances could imply an improved quality of healthcare, clothing, and housing, among others. There are many ways of acquiring money. People have to make choices about approaches to progress in life through the use of money.

Works Cited

Campbell, Gregor. “Microfinancing the Developing World: how small loans empower local economies and catalyse neoliberalism’s endgame.” Third World Quarterly 31.7 (2010): 1081-1090. Print.

Ferguson, Niall. The ascent of money: A financial history of the world . London, United Kingdom: Penguin, 2008. Print.

Mittelman, James H. “Crisis and global governance: money, discourses, and institutions.” Globalizations 7.1-2 (2010): 157-172. Print.

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However you spend it, money isn’t the key to happiness

Research Fellow at Stirling Management School, University of Stirling

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Christopher Boyce receives funding from the Economic and Social Research Council.

University of Stirling provides funding as a member of The Conversation UK.

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How important, if at all, is having more money for our happiness and well-being? Unsurprisingly this question stimulates a lot of opinion and debate. But are people accurate in their predictions about the benefits of having money?

A new study published in the Journal of Positive Psychology highlights that people are often mistaken in how spending our money might benefit our lives. People are prone to forecasting errors – that is, they mistakenly predict future events to be better or worse than they actually turn out to be.

In this latest study the researchers show that people predict that buying material possessions will be a better use of money than spending instead on life experiences. But once the purchases are had, the experience is what’s perceived to have been a better use of money, resulting in higher well-being. More or less, this confirms findings from other studies . And so it seems that a focus on having as opposed to being may limit human potential.

But what does this new study tell us about the importance of money for both happiness and well-being more generally? On the whole money matters much less than people think and has led some to conclude simply that money doesn’t make us happy because we aren’t spending it right .

My own research has also illustrated that we probably don’t spend our money on the things most beneficial for well-being. For example, we have shown that spending on psychological therapy would be an extremely cost-effective way of raising well-being . But, the message from our research is not that we should just spend our money better and that people underestimate the effect of purchasing certain things, as the authors claim in the latest study. Instead, our work highlights just how relatively unimportant money is at raising individual well-being compared to other more important things.

More to life than money

How to spend our money is not the only choice we have – we also have choices as to how we should live our lives and whether in fact we should spend so much time and energy pursuing money in the first place. Thus when we are trying to understand the importance of money for well-being it is one thing to compare types of spending, but really we should be comparing how important money is in relation to other things.

The reality is that how much someone earns contributes very little to their sense of well-being compared with other things such as social relationships, physical and mental health or how a person relates to the world around them. Focusing directly on these factors would probably do much more for our well-being rather than how we chose to spend our money.

We have demonstrated that personality change, for example, contributes substantially more to changes in well-being than income factors . People who, for example, become more open to new experiences or emotionally more stable, are much more likely to experience larger well-being changes than any change to their income.

Being materialistic is well-known to be detrimental to an individual’s well-being. Those that pursue wealth and possessions consistently report lower well-being than those that don’t.

So a better question to address than how we should spend our money is: “Why does more money seem to bring us very little well-being even though we often predict otherwise?”

Money and social standing

One reason is that people don’t care about how much money they have per se, but care more about the social position that their income gives them . But increases in an individual’s income won’t necessarily equate to a growth in social standing. And, while people may think that an income increase will bring greater well-being, this may not factor in that everyone else may experience an income increase at the same time.

It’s also been shown that income losses have a much greater impact on well-being than equivalent income gains . This suggests that any benefit that accrues from an income rise, whether at the individual or national level, may be completely wiped out by much smaller income losses. The importance of income is therefore not in obtaining it, but avoiding losing it. Only once it’s obtained does income become essential to maintain your current level of well-being and this may partly explain why it is believed to be so important for well-being.

The question as to whether more money brings greater happiness comes up time and time again and will no doubt continue to do so. Indeed it is an important question and how we spend our money is of course important – if we have money then of course it makes sense to use it wisely. But it would be a mistake to let the pursuit of money for the sake of happiness distract us away from the things in life that simply matter more.

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Essay on Money Is Important for Happiness

Students are often asked to write an essay on Money Is Important for Happiness in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Money Is Important for Happiness

Introduction.

Money is often linked to happiness. Having enough money can bring joy as it helps meet our needs and desires.

The Role of Money

Money is vital for survival. It buys food, clothes, and shelter, which are basic human needs. Without money, life becomes challenging.

Money and Freedom

Money offers freedom. It allows us to travel, explore new things, and have unique experiences, all of which can make us happy.

Money and Security

Money provides security. Knowing we have enough money to handle emergencies gives peace of mind, contributing to happiness.

While money isn’t everything, it plays a significant role in achieving happiness.

250 Words Essay on Money Is Important for Happiness

The essential role of money in achieving happiness.

Money, often portrayed as a villain, is in fact a crucial element in the pursuit of happiness. While it is not the sole determinant, it undeniably contributes significantly to our overall well-being.

Money as a Means to Meet Basic Needs

Firstly, money is essential in fulfilling our basic needs such as food, shelter, and clothing. These necessities form the foundation of Maslow’s hierarchy of needs, a psychological theory that posits the fulfillment of basic needs as a prerequisite to achieving happiness. Without money, the struggle to meet these needs can lead to stress and unhappiness.

The Freedom and Opportunities Money Provides

Secondly, money affords us freedom and opportunities. It provides the means to pursue hobbies, travel, and explore new cultures, all of which can enrich our lives and increase our happiness. Moreover, money can also enable us to pursue further education or start a business, thereby fostering personal growth and satisfaction.

Money’s Role in Alleviating Suffering

Lastly, money can help alleviate suffering. It can provide access to quality healthcare, allowing us to maintain good health and longevity. It also enables us to help others, either through charitable donations or supporting loved ones, which can bring immense joy and fulfillment.

In conclusion, while money cannot buy happiness outright, it plays a pivotal role in creating conditions conducive to happiness. Recognizing this can help us approach money with a healthier mindset, seeing it not as an end in itself, but as a tool for achieving a happier and more fulfilling life.

500 Words Essay on Money Is Important for Happiness

Money, a medium of exchange, is a crucial element of life. It is an undeniable fact that it plays a significant role in shaping up the happiness and well-being of individuals. The concept of money and happiness has been debated for centuries, with various perspectives on its importance. This essay will explore the multifaceted relationship between money and happiness, shedding light on why money is significant for happiness.

The Necessity of Money for Basic Needs

To begin with, money is necessary for meeting basic human needs, which include food, shelter, and clothing. Without money, it would be challenging to fulfill these needs, leading to a life of hardship and, consequently, unhappiness. Maslow’s hierarchy of needs supports this perspective, placing physiological needs at the base of the pyramid, which are essential for survival and can only be met through financial means.

Money as a Means to Improve Quality of Life

Beyond basic necessities, money also allows individuals to improve their quality of life. It provides access to better healthcare, education, and opportunities for self-improvement and growth. These elements contribute significantly to one’s overall happiness. Moreover, money can be used to acquire experiences that bring joy, such as travel, hobbies, or spending time with loved ones.

Financial Security and Mental Peace

Financial security, facilitated by money, is another crucial factor contributing to happiness. The absence of financial stress can lead to better mental health and overall well-being. Money can provide a safety net for unexpected situations, giving individuals peace of mind and the freedom to pursue their passions without the constant worry of financial instability.

The Limitations of Money in Achieving Happiness

While the importance of money for happiness is evident, it is essential to recognize its limitations. Research suggests that beyond a certain income level, additional money does not significantly increase happiness. This is known as the ‘Easterlin Paradox.’ Furthermore, an excessive focus on money can lead to materialism, which can negatively impact relationships and personal satisfaction.

In conclusion, money plays a crucial role in facilitating happiness by meeting basic needs, improving quality of life, and providing financial security. However, it is not the only determinant of happiness, and its pursuit should be balanced with other aspects of life, such as relationships, passions, and personal growth. Therefore, while money is important for happiness, it is not the sole ingredient and should be viewed as a tool to achieve happiness rather than the end goal.

That’s it! I hope the essay helped you.

If you’re looking for more, here are essays on other interesting topics:

• Essay on Money Can Buy Everything
• Essay on Importance of Saving Money
• Essay on Importance of Money

Apart from these, you can look at all the essays by clicking here .

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Money Essay | Importance and Benefits of Money Essay in English

Money Essay: Money is a vital wellspring of everyday routine to experience a solid and satisfying life, despite the fact that it can not measure up to adore and mind. Both have their own significance and benefit. We are giving articles on Money to partake in a paper composing contest in basic and basic words here.

Money is the medium utilized by individuals to purchase required labor and products. It is utilized as the source to satisfy fundamental requirements and is additionally a wellspring of solace throughout everyday life. Money is the main source to carry on with a sound and prosperous life; nonetheless, it couldn’t measure up to the meaning of affection and care. Both have their own significance and advantages. By the way, Money is a helpful and important product to live cheerily arranging all your standard liabilities towards your family and friends and family.

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Short Essay on Money 300 Words in English

Money is the fundamental need of life, without which nobody can envision a sound and tranquil life. We need money to satisfy our littlest needs. In present-day times, when progress is growing quickly and everybody is following western culture, in such a period, we need more money because of expanding merchandise. On prior occasions, there was training called trade framework, in which anybody would get another thing in return for a certain something. In any case, presently in this advanced world, just Money is expected to purchase everything or thing. it happens.

These days you need Money for each work, for garments, for food, for a safe house and surprisingly in numerous spots you need to pay for water. Despite the fact that it can likewise be said that ‘Money can’t give joy’s yet would you be able to be content with no Money? Since Money is a major piece of our life, at any rate you need Money to be content.

The significance of Money is expanding step by step, in light of the fact that our living has gotten over the top expensive. The significance of Money has expanded for a huge scope in the fields of creation, utilization, trade, circulation, public income and so on It assumes a vital part in deciding pay, work, continues partnership, general value level and so on On the off chance that we take a gander at the present-day situation, there is no uncertainty that he, who has a lot of riches, is viewed as more cultivated on the planet. Consequently, we can say that Money is vital in each part of life.

Importance of Money

Money is a fundamental thing throughout everyday life. In any case, it can’t accept things like time, love and genuine consideration. It can just satisfy the outer requirements of an individual and not the interior necessities like love. These days, everything has gotten costly yet getting them is vital to carry on with basic life. In the event that we don’t have money, nobody can envision the reality of how our circumstances will be.

The demise of an individual is sure because of the absence of Money and on the off chance that he endures, he experiences to confront numerous difficulties. Abundance empowers us to purchase every one of the essential things and helps us for the duration of our life. In the event that we comprehend the significance of Money throughout everyday life, we won’t ever go through Money with no reason or abuse. We can’t look at Money and love, in light of the fact that to carry on with a fruitful life we ​​need both Money and love.

In this cutthroat world, to bring in Money by finding a decent line of work, everybody needs to concentrate well with advanced education from a notable school or college. An individual needs to bring in more money to satisfy the prerequisite of the relative multitude of individuals in the family, particularly for the individual who is the lone worker in the family.

An individual necessities Money to address the issues of all his relatives to eat, wear, and live. The rich have an uncommon personality and notoriety in the general public, be that as it may, the needy individuals spend their lives just getting two suppers per day. Every one of these progressions and contrasts are because of Money as it were.

In any place where there is a shortage of money in the house, there are a lot of struggles. There are squabbles among a couple. Neither does anybody regard each other in the case of bringing in Money. Neighbors and family members likewise peer downward on the destitute individual. He begins cutting her reasoning that the individual never requests Money from her. With this, nobody needs to get to know a destitute individual in the present time.

Money can neither purchase nor stop time nor purchase genuine romance and care together. Yet at the same time it is needed by all, so life can be taken in the correct way. Despite the fact that Money can’t give time and love, it certainly gives us bliss, certainty, fulfillment, physical and mental harmony. Because of which we can carry on with life effectively and each troublesome issue can be settled.

Advantage from Money

You can carry on with a conscious life: An individual is regarded just when he is monetarily prosperous. Something else, in the present society, the bankrupt individual has no regard.

Unadulterated and nutritious food can be eaten: The individuals who have abundance can appreciate an assortment of heavenly and nutritious dinners. What’s more, they can shield themselves from sicknesses.

Your assurance should be possible: In the present society, burglary, theft have expanded a great deal and rich individuals can give security to themselves because of Money.

The credit is repayable: Obligation taken from an individual rich individual can reimburse the credit without any problem.

The happiness regarding material delights can be achieved: With an adequate measure of riches, all material solaces can be appreciated like taking a decent house, great garments, vehicles and different things.

FAQ’s on Money Essay

Question 1. What is the requirement for money?

Answer: The main capacity of cash is to fill in as a mechanism of trade. As a mechanism of trade, cash addresses every one of the troubles of the deal. There is no need for a twofold fortuitous event of needs in a cash economy.

Question 2. What are the benefits of money?

Answer: Having money with you gives you a respectful life, you can have a healthy and nutritious life, you can pay your loans, have a luxurious life, etc.

Question 3. How can we earn money?

Answer: There are a number of ways to earn money such as;

• You can be an employee in a company
• You can start your own business
• You can be an entrepreneur
• You can use social media channels to provide your service

Writing essay: Is money the most important thing in life?

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Online shopping is replacing shopping in stores. Do you think this is a positive or negative development?

Some people say that advertising is extremely successful at persuading us to buy things. other people think that advertising is so common that we no longer pay attension to it. discuss both these views and give your own opinion., why do students prefer doing part time jobs during their studies do you think this has more advantages or disadvantages, in a number of countries, some people think it is necessary to spend sums of money on the construction of new railway lines for very fast trains between cities. other believe that money should be spent on improving existing public transport discuss both views and give your opinion, increasing the price of petrol is the best way to solve traffic and pollution problems to what extent do u agree or disagree what other measures do you think might be effective.

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Essay on Money: How money is important in our life? (1000 Words)

Money is a wonderful invention of man. It is the power that helps people in earning and spending. Its importance can be understood by knowing how it solves the problems of human beings. We should know how to spend money properly and how we can save money for future use. In this essay, we’ll talk about the importance of money.

Money is a wonderful invention of man

The value of money is based on the following functions:

• Medium of exchange – Money is a medium that facilitates the exchange of goods and services. It can be used to purchase groceries, pay your student fees or even buy concert tickets.
• Store of value – Money allows you to store purchasing power over time so that you can use it later when required. For example, if you earn $400 today but do not need all of this money in one go, you would rather keep it for later use as ordering pizza with friends next weekend or buying tickets for movies.
• Unit of account – Money provides an agreed standard for measuring how much something costs, such as $6 for breakfast sandwich from McDonalds or $800 for a new laptop computer.

When barter system was prevalent, human relations deteriorated to a great extent

When barter system was prevalent, human relations deteriorated to a great extent. The reason for this is that in a barter system there is no currency or money. Therefore, when a person has a surplus of goods and services he can exchange them with others but if his requirements are more than what he has then he faces a problem.

The existence of money paved way for good and improved living standard

The first currency that was widely used was gold and silver. Gold coins were used as a medium of exchange, while silver coins were used as a store of value. Gold and silver are extremely scarce resources, so they were chosen over other materials because their scarcity made them scarce resources with high value.

The introduction of money has made our lives easier than before. We can now purchase goods and services without having to wait for someone to give us what we need. People can also save up their money for future use when the need arises without having to worry about keeping track of everything they have spent on each item or service rendered to them.

Does money matter in life?

In order to understand how money works in our lives today, we must first know what it is and how it functions. Money is any object or record that is generally accepted in payment for goods and services; serves as a medium of exchange, unit of account, or store of value; and is generally accepted as final payment for goods (Federal Reserve Bank). Money can be categorized into three main types: commodity money (gold), representative money (fiat currency), verification system (digital currency).

Some people think that money is a very important thing in their lives because they can use it to buy what they want, but some people think that money isn’t so important. For example, some people have lots of money and they can buy anything they want with their money; however, other people don’t have much money and have no choice but to work hard every day just to earn enough for themselves and their family.

Regardless as to which side you are on, there is no denying that a person’s life experiences are often dependent on their financial situation. Money does not always guarantee happiness or security; however, having enough cash flow certainly makes daily life easier for most individuals.

Why money is important in our life?

Money is the medium of exchange. We, humans use money to buy things and services from others. Without it, we cannot live a comfortable life as we need food, clothes and shelter. If you have no money you will be miserable because all these things are very necessary for our survival in this world.

The following points will help you better understand why money is important in our lives:

• Money helps us to buy food and clothes etc., which means without enough amount of money one can’t survive properly;
• Money helps us to buy various services like transportation, medical care etc.;
• Money also helps us build our houses and other buildings such as schools or colleges;

The power of money

The power of money is beyond imagination. It can buy anything you want, but only if you have enough of it. Money can buy happiness, education and even health. It can also make us feel secure when we have a lot of it saved up in the bank or kept under our mattress! If we have enough money then no one will ever be able to hurt us because they will know that they cannot take away what is rightfully ours.

Money has many benefits; it allows us to live comfortably without worrying about where our next meal will come from or how we are going to pay for college tuition fees for our childrens’ education. With more than enough money at hand, life becomes much easier as well as enjoyable because there is nothing stopping us from doing what makes us happy such as travelling abroad or buying new clothes whenever we need them (as opposed to waiting until payday).

Some evils are also associated with money

Money can be a source of happiness and joy or it can also be a source of evil. Money is not everything and therefore, we should not put too much emphasis on it. Money has its own merits as well as demerits.

The main merit of having money is that it helps you live a comfortable life by providing you with all the resources necessary for living comfortably like food, shelter, clothing and education etcetera.

The main demerit associated with having money is that people who have more than required amount of wealth become greedy and start doing illegal activities to earn more money which later becomes their source of evil as well as discomfort in lives.

Money is a powerful tool which can be used for bringing good or bad to the society. If we use it in a right way then it will help us to improve our lives and make us more comfortable but if we misuse it then all of us are going to suffer. So, money is important in life because with this currency we can purchase things that we want and also give charity as well.

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Home — Essay Samples — Literature — Money and Class in America — The Importance of Saving Money

The Importance of Saving Money

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Which is More Important in Life: Love or Money | Essay

Why Money Matters?

Money makes your life comfortable, money can buy you health, money creates more opportunities for you, money can help others, money gives you time, freedom and mobility, money gives you education, why love is important, love allows you to connect with others, love is the source of energy and motivation, love makes you healthy and happy, love makes you kind, love leads you to self-discovery, so is love or money more important, money is a tool, love can make you rich.

In this article, you are going to discover which is more important to you in life, is it love? Or is it money?

For those who think that money is more important than love, they believe so because they believe that money is the glue that keeps the couple together. Without money, they cannot buy the house to move in together. Without money, they cannot watch movies in theatres and go for a date night. Without money, they cannot plan for having babies and building a happy family.

Now, what about love? Isn’t that love is the most important since money can’t buy love? Without love, everything you do seems meaningless. Without love, you will live empty inside. Without love, you will feel like you are incomplete. More importantly, there will be no one there to celebrate with you even if you are rich and have all the money in the world, so does this make love the more important than money?

In order to find out the real answer to the question, whether money or love is more important, you must delve deeper into each component and how money and love affect your life.

First, let us look at money. Why do you think money is important? Well, this is a no-brainer question. People used the money to buy things every day. You use the money to pay your bills, you use the money to buy foods, and you use the money to buy a house or to pay the rent in order to put a roof over your head. So money is truly important. Without money, people cannot survive comfortably.

Money dictates the flow of human living, especially in this modern world. When you don’t have any money, life will often be painful and difficult. Money creates the freedom to you. If you have seen people who are in serious debt and are chasing for money to make ends meet, you will understand that money is important.

Money is a non-negotiable and an indispensable commodity in every person’s life. Do you know that the possession of money means it is a resource and the usage of money can create other resources too? Everything that we use in our daily lives has monetary value, be it directly or indirectly.

With money, you can often buy whatever things you want in your life. In other words, money makes your life comfortable. When you have enough money, you can spend money on necessities like food and groceries.

And when you have more money, you can then spend them on luxury items like a bigger house, a sports car, or even use it for charity. You can donate and help others who are in need. Money is a tool that when used correctly, it will create more good than evil.

You need money to buy and put food on the table. Without money, life cannot go far. Your relationship can suffer and what if you have a family to feed? Therefore, money is important because it provides the basic necessities to survive. More importantly, when you have a lot of money, it makes your life comfortable.

Yes, this is true, money can buy you health. You can maintain your health even though you cannot rule your health. With modern healthcare to increase human longevity, money can help you improve your health and live a healthy lifestyle.

For example, you can spend money on a proper and healthy diet, you can buy nutrition and supplements, you can work out in the gym, and when you are sick, you can get proper medication.

Plus, if you have the money, you can make an appointment with your doctor for a regular checkup. This way, you can prevent serious illnesses rather than having to cure them when you are already infected.

A lot of people did not go for medical and health checkups because they do not have enough money to pay for the healthcare bills. And this becomes even more obvious these days because the cost of medical checkups has been increasing drastically over the years.

Do you know that money can create an opportunity for you? When you are rich and you have the money, you can buy a house that is up for sale and priced under the market. When you have the money, you can invest and build businesses, create more jobs and develop values for the community.

Without money, things will be more difficult. For example, when you saw a house up for sale that is priced below market and you know that this is an absolutely good deal, how can you afford to buy the house when you have no money?

This does not mean that you cannot buy the house and secure the deal, it simply means that without money, things will not be as direct and you need to find other ways to solve the problem. On the contrary, if you have the money, you can buy the house and secure the deal right away, without having to borrow or find ways to make it work.

Hence, money creates opportunities for you. You can invest the money and make businesses flourish. Or you can just give the money to your children so that they do not have to start from zero. Nobody wants to see their children going through a tough start. And money can give you, your family, your lover and the community security.

This is also the main reason why the rich able to get richer. When the rich have money, they are presented with more opportunities to grow and achieve more.

When you see someone who needs monetary aid, will you help? Well, if you have money, then you can choose to help as you like. However, what if you do not have any extra to help?

This is why money can help others and make the world a better place. In 2010, the world’s richest men, Bill Gates and Warren Buffett announced a campaign to encourage wealthy people to contribute a majority of their wealth to philanthropic causes, and they called their campaign, The Giving Pledge.

As of 2017, there are 158 wealthy people have signed the pledge including the Facebook creator Mark Zuckerberg, and their pledges total to over $365 billion. And this act of kindness has created values, help, and saves a lot of lives around the world.

Thus, money can help others. Not only that money is important in enriching your life, but it can enrich other people’s lives too.

Money can buy you time. You don’t have to trade your time for money. This is exactly what most people are doing because they stuck in a job and if they don’t work, they don’t have the money. It is an endless loop.

At the same time, money gives you freedom too. You have the freedom to choose what to eat, what to buy, which house to stay, and what car to drive. Without money, your choice will be limited. If you don’t have money, you cannot spend on luxury items, hence, your freedom is limited.

Another important reason why money is important is that money builds your school and money sends you there for education. People who are in poverty do not have a better chance to get into a better school or access to higher education.

Furthermore, when you have excess money to spend, you can buy books, attend additional classes like a seminar or a workshop, pay to learn how to cook, how to invest, or how to do things better.

Love can be described as a feeling, an emotion, and also a way of life. The majority of people will think that love is the most important thing that is in life. While there are many facets and faces of love, you are going to discover how love is important and how it can affect your life here.

This may seem like common sense, but it is and will always be the key to the functioning of society as a whole. As human beings, you possessed the ability to have an intimate connection and affectionate with another person.

Nobody can escape from the feeling of love. Feelings and emotions are built in within our biological system, there is no way anyone can escape the feeling of affection and love. It allows you to build an intimate relationship with others, it makes you feel complete, and to a certain extent, it is why people live in this world.

There are plenty of cases whereby people can do something extraordinary and sacrifice without requesting anything in return for the people that they love. This simply shows that love is the most important thing in life, and not money.

When you are in love with what you do and you are passionate, you will strive better and to perform better. This is also to say that people who are in love of their work, their career, their family, their partners, etc, tend to do better in life.

People who have a family and love their family will want to do better to provide their family with a better quality of living. People who are in love will want to perform better for their partner too. Plus, if you are in love with your work and you are passionate about it, you will do your best to deliver extraordinary results.

In fact, love is the thing that created success, and hence, money. Love makes you complete and performs better. When you perform better, you become more successful. When you are successful, you get paid higher or you earn a better income, and you have more money.

When you are in love, you feel inspired. It gives you a can-do attitude and you look at the world in a positive perspective. Love gives you motivation and you can tap into this energy source to achieve greater heights in life.

Studies after studies have proved that when people are feeling loved and grateful, their overall well-being will improve and are less likely to fall sick. When you are feeling loved, your biological system works better to improve your immunity.

Besides that, love can make you feel happy. And there are many benefits one can get from feeling happy. This is why love is the ultimate feeling that everyone is pursuing. There is no way you can live in this world alone. You will feel empty and live in depression.

Humans are creatures who desire to live in groups. Since Stone Age, humans have gathered together and lived in groups. You simply cannot live by yourself. You need to depend on others and get the support from other people to live and to thrive.

We all know that the desire to love and care for others is a hard-wired and deep-seated because the fulfillment of this desire enhances our happiness levels.

In other words, when we feel loved, we are more willing to help others. And when we help others, we make ourselves feel better.

There is a study conducted where participants were either given $5 or $20 as part of the experiment. Participants are then asked to either spend the money on themselves or on others. Those who spent the money on others experienced a higher level of happiness than those who spent the money on themselves.

What is more interesting is that the amount of money spent on others did not make a difference to the happiness level. Meaning to say, those who spent $5 on others derived just as much happiness as those who spent $20.

This is why when you are feeling loved, you will be more likely to give a helping hand to those who are in need.

Love can reveal a lot about ourselves that we may not have already known. This is because when you are in love with others, you reveal a lot about your tastes, preferences, morality, habits, and reactions to the other person. As a result, this also allows you to better understand yourself.

Furthermore, love also makes you a better version of yourself. When you are in love, you will be nice to everyone, you will appreciate everything that is happening in your life, and you will be more willing to help.

Apart from that, your loves will make you fearless. The things that you fear will disappear when you are in love. You know you have your own personal cheerleader in your corner to help you with whatever is needed. If you are in a happy relationship, you know that your partner is always there to support you. You will feel great when you are home or be with your lover despite going through a tough day.

By now, you should understand that both money and love are important in life. After you have read through the information given above, you should know that love and money have their own functions in life and why we need both in order to thrive.

Perhaps, we should love and money like our hands and our legs. Do you think that your legs are more important? Or your hands are more important?

Probably, both hands and legs are important and you definitely do not want to lose any of them. The same can be said for love and money. Both can be important in their own way to make our life work.

Money should not be the main objective of your relationship. And financial success usually comes as a result of a partnership that works, from love. That is why it is important to have both money and love. And you need to learn how to make both works for you in life.

Every time you do something for the sole reason of earning money, you will feel empty inside. And every time you do not have money, you will feel depressed and life can be tough. Money is not the objective of a relationship, but often, money will affect the relationship in its own way.

Always remember that money is a tool. Without money, you will miss out a lot of opportunities and you will lose your freedom to make things happen.

On the other hand, with money, you can help people and make your dreams a reality. Want to travel the world? With money, you can easily make this dream come true. Thus, money is a tool. You must learn how to use this tool wisely.

Instead of letting money to control your life and your relationship, learn to make it work. Learn to control your money and grow it. Money is responsible for the creation of innovative products and companies. Money is required to help and feed those who are in need.

And please understand that money is not evil, but greed is. The money will not turn you into a bad guy. The money will only reveal more of who you already are.

For example, if a kind-hearted person becomes rich, he will do more good, donate to charity and help those who are in need. Oppositely, if a bad person becomes rich, he will use the money to fulfill all his bad ideas.

Therefore, money is neither good nor bad. Money is just a tool that can help you realize your inner desire.

And when you learn to master money and learn to grow it, you will become rich beyond your wildest dreams.

You have heard countless of times that success gurus and people who have accomplished extraordinary results in life always mentioned that love and passion are important.

Steve Jobs has a great commencement speech at Harvard University, he said:

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”

Everything starts from love. If you want to accomplish great success in life, learn to love yourself, your work, and the people around you. As what you have already learned from above when you are in love, you will be happier and are able to perform better result.

And when you perform better in life, you will achieve more. When you achieve more, you will earn more and as a result, you will have more money. This is why love is important and it can make you rich.

Remember, this is not to say that money is not important or people can only achieve greatness with love. It is possible to achieve greatness without love, but in the end, you will feel empty inside and there is no one to share your success.

Love is a support structure for you to build your ship on. Whatever future you desire, methods you want to follow or wherever you see yourself going, you know that you will have someone who believes in you, trust you, and wants to see you succeed.

This is an important feeling and this emotion can catapult your life to a higher level. This is also why you need to find love in your life and in everything that you do.

Again, both love and money are important because they are different things that will make your life worth living.

Learn to love and be loved so that you can turn the inspiration into energy that drives you to success. At the same time, learn to use money as a tool to achieve your dreams and enrich your loves.

References:

• returnofkings.com/36650/the-importance-of-money
• gulfbend.org/poc/view_doc.php?type=doc&id=10638&cn=217
• wealthpilgrim.com/why-money-is-more-important-than-love/
• bustle.com/articles/64844-6-reasons-money-actually-does-matter-in-every-relationship-whether-you-want-it-to-or-not
• thebridalbox.com/articles/why-love-is-important_0018723/
• 7reasons.org/2011/02/11/7-reasons-that-love-is-important
• psychologytoday.com/blog/sapient-nature/201401/the-need-love

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10 Interesting Views About Money and Fulfillment

Posted: April 10, 2024 | Last updated: April 10, 2024

Although it is quite true that money is important in life, that doesn’t mean everyone wants to buy luxuries all the time. People have their preferences and interests even if they get the fortune of Elon Musk. On a social media platform, users share their quite amusing and exciting takes on this topic. Let’s have a look.

1. Twitter (X)

Twitter is a social media platform where people share their views or opinions openly, but now, after a specific policy change, it hinders freedom of expression. Twitter Blue Tick and Twitter Premium are paid directly, which gives people only access to edit the posts or earn money from their post’s impressions. Twitter Users claimed that Elon Musk hyped this app enough to cover his loans or make his earning platform.

2. YouTube Premium

Why pay for the videos that are available for free? 

YouTube Premium is a social video streaming app where users pay for ad-free streaming. However,. Some video lovers call the pricing value of Premium too high and say they won’t spend for only a few hours of streaming. Moreover, it is being called another music platform in the form of YouTube Music, making the user’s money worthwhile.

Tesla is the top electric car manufacturing company and always comes with innovation and edge-cutting features. Surveys show that even car lovers are giving up on it due to some issues with CEO Elon Musk. Moreover, the bad quality of the cars and poor range make it unable to be worth its amount. The majority of the users have a common consensus to not buy it at every cost.

4. An Island

Spending millions of dollars on an Island always seems to be a bit off as an adventure. Still, people are making small investments on the island, whatever makes them happy. Moreover, an eco-friendly user raises concerns about global warming in the region and considers it harmful to the environment. The expensive amount could be invested in a business to make the residential area and environment toxic-free.

5. Only Fans Subscription

The subscription for content like fitness exercise, music, or pornography. It is mainly used by sex lovers to meet their desires online. Moreover, the complete identity verification or the account details put the users’ safety in a dangerous zone. The subscription rate varies from $4.99 to $49.99, which is expensive for the private pictures or videos of content creators.

Isn’t it quite an interesting take? 

iPhone is one of the popular products of the Apple brand. Here, the social media users have different opinions. One Android lover claims that it is difficult to find his favorite apps on the iPhone store, and he is being adjusted to Google or Android features. Moreover, no standard features, high amounts, and no proper gaming structure make it more challenging to buy.

7. HBO Max Subscription

From Comedy to drama, crime to reality, HBO Max has a wide range of movie genres in its box. One of the hurdles users are facing is its glitching factor. A user on a social platform claims that he can’t watch his favorite show in one go. He has to just go back and turn the video on for the higher resolution; what’s the need for paying when one can’t get HD videos?

8. Extended Car Warranty

Are you looking to extend your car warranty? 

Car warranties are usually extended when people can’t risk significant car repairs. However, there is no such coverage benefit that comes from this warranty. Even for at least three years of car purchasing, an extended warranty doesn’t have any hold. Moreover, in case of damage or theft, people pay for their warranty limits, which they are not even using.

9. Hot Dogs

Don’t you find it a strange claim to be made? 

On the American side, most people avoid hot dogs as it is claimed to be of poor quality meat and have chemical or artificial ingredients. Moreover, 33% of Americans are not in favor of eating hot dogs. A diet-conscious user claims that many diseases could be spread from it, and he won’t buy it ever in his life. 

10. SubX Titanic

Are you an ocean lover? 

SubX Titanic is being heavily invested in and taken to a deeper level to get the view. However, Commoners always find it stupid to take heavy machines to the bottom level of the ocean to establish life there. Moreover, its wreckage, a spare blunder, would cost the lives of the people going down. However, it’s always been a curious attempt to be made.

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A Solar Eclipse Means Big Science

By Katrina Miller April 1, 2024

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On April 8, cameras all over North America will make a “megamovie” of the sun’s corona, like this one from the 2017 eclipse. The time lapse will help scientists track the behavior of jets and plumes on the sun’s surface.

There’s more science happening along the path of totality →

An app named SunSketcher will help the public take pictures of the eclipse with their phones.

Scientists will use these images to study deviations in the shape of the solar surface , which will help them understand the sun’s churning behavior below.

The sun right now is approaching peak activity. More than 40 telescope stations along the eclipse’s path will record totality.

By comparing these videos to what was captured in 2017 — when the sun was at a lull — researchers can learn how the sun’s magnetism drives the solar wind, or particles that stream through the solar system.

Students will launch giant balloons equipped with cameras and sensors along the eclipse’s path.

Their measurements may improve weather forecasting , and also produce a bird’s eye view of the moon’s shadow moving across the Earth.

Ham radio operators will send signals to each other across the path of totality to study how the density of electrons in Earth’s upper atmosphere changes .

This can help quantify how space weather produced by the sun disrupts radar communication systems.

(Animation by Dr. Joseph Huba, Syntek Technologies; HamSCI Project, Dr. Nathaniel Frissell, the University of Scranton, NSF and NASA.)

NASA is also studying Earth’s atmosphere, but far from the path of totality.

In Virginia, the agency will launch rockets during the eclipse to measure how local drops in sunlight cause ripple effects hundreds of miles away . The data will clarify how eclipses and other solar events affect satellite communications, including GPS.

Biologists in San Antonio plan to stash recording devices in beehives to study how bees orient themselves using sunlight , and how the insects respond to the sudden atmospheric changes during a total eclipse.

Two researchers in southern Illinois will analyze social media posts to understand tourism patterns in remote towns , including when visitors arrive, where they come from and what they do during their visits.

Results can help bolster infrastructure to support large events in rural areas.

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