In this article, we are going to explore the answer to the question of Why is Money Important.
This then naturally leads to the question of how important money is, which we will also take a look at.
Lastly, I’ll round up the key takeaways from both questions.
So without any further ado let’s look at why is money important.
Is It Important?
I’ll briefly touch upon it since it’s still relevant to the question of why is money important.
In short, of course, it is.
We all know it (at least I hope).
Although the majority of us might not want money to be important, it plays a key role in our lives.
They say money makes the world go around after all.
Of course, if we were to look at this from a philosophical standpoint, spiritual and internal wealth is much more important than that of its psychical counterpart.
But that’s a topic for another day.
So let’s now establish why is money important.
Why Is Money Important?
Why is money important has often been a topic I’ve debated with myself and others throughout my early adulthood.
It’s interesting because when you are young, money plays an almost insignificant part of your life.
As a result, you are caught out in the leap from adolescence to adulthood (which seems to happen all too quickly) due to our ‘financial lives’ beginning.
It’s at this point you realise, for the majority of people at least, that money is important.
Phrases like “there is no such thing as a free lunch” begin to make sense.
Although money is merely digits on a screen or pieces of cotton paper (for most currencies anyway) it essentially dictates a lot of what you can do in your life.
That is why money is important.
It’s a sad reality for most people but it’s those who adapt quickly and work with this knowledge that gets ahead financially.
You may often find money compared to a tool, one with which if you use it correctly, can reap the rewards.
Equally, those who use money poorly, end up not so fortunate.
So the key, therefore, is to utilise the money to create more.
This will not only bring you financial freedom in time but more importantly, freedom to do what you want when you want.
This is ultimately, the goal we all strive to achieve in lives.
Now we know WHY money is important, let’s look at just HOW important is money?
How Important Is Money?
The answer is, it depends on your circumstances.
This can be broken down into two key factors.
The two main elements are your current financial situation and your views/beliefs about money.
Let’s start with views and beliefs about money
Views/Beliefs About Money
How many times have your said to yourself, if only I was rich.
It’s your thought processes after this question that sheds light on your views about money.
How can I implement a plan of action to get myself where I want to be financially is based on a positive belief system.
This is built on the foundation of constantly learning and developing your knowledge of all aspects of money.
The more popular line of thinking, which happens to be the easier option overall, is just to experience jealousy and resentment of those who are wealthy.
We like to make ourselves feel better by saying things like ‘they must have stolen that money’ or ‘they probably inherited their wealth’
I believe this is largely due to a lack of financial education, coupled with envy/jealousy which is synonymous with humans which prevents them from progressing.
Having said that money should never mean so much to you that disregard the other things in life money can’t buy which are more important.
Your Current Financial Situation
Simply put, your financial situation has a big impact on how much you value money.
if you are living paycheck to paycheck, money is probably very important to you.
alternatively, if you are currently relaxing on your superyacht which is docked on the coast of Monaca, it probably means less to you.
Of course, there are going to be exceptions.
Take the latter situation, someone who dedicates there life to achieve that level of wealth cares about money deeply.
it’s important to find the right balance between the two.
Therefore, the winning formula is a positive attitude towards money with a healthy amount of weight placed on its importance.
We now know more about why money is important and how important money is.
To summarise I’ll least the key takeaways from each below.
This is money important:
- Money controls many aspects of our lives
- It is a tool, which when used correctly, does the ‘heaving lifting’ only requiring us to guide it
- Money can give you more freedom to do what you want
How important is money:
- The two factors that decide are you beliefs about money and your current financial situation.
- Have a positive belief system around money
- Stray away from the negativity surrounding money
- Financial literacy and education are key to success
Conclusion On Why Is Money Important
Why is money important?
Because it governs many aspects of our lives.
To get ahead we need to accept this and invest in knowledge that will allow us to use money correctly.
When it comes to how important is money, it comes down to you.
Not just your current financial situation but your beliefs about money.
If you care too little, your bank account will suffer.
If you care too much, then unhelpful primal drives like greed come into play.
So, therefore, a happy medium seems the best stance to take.
If you enjoyed this post on why is money important, then check out some of my other posts such as:
Make sure to leave a comment if you have any thoughts on this post!
P.s Be sure to check out another great post I found on the same topic by moneyning.com