Table of Contents
The most basic need of one’s life is money as it helps to meet our basic necessities. Meeting some of our needs like food, water, clothes, healthcare, etc. is really very important and if we don’t have enough money we’ll stay deprived of these things. Money is the most important source to live a healthy and prosperous life; however, it cannot be compared with the significance of love and care. Both of them have their own importance and benefits and money can’t buy, love, happiness, and emotions as these are natural feelings. We need money even when buying a roll of thread. In the modern world, we need a lot of money to survive because of the increasing prices of everything. The importance and wants of money are increasing day by day as living in this trending world have become costly. Without money, we feel helpless and alone in this world where no one is ready to help and assist. In the current materialistic world, money is a very important and powerful thing without which one cannot live and survive.
IMPORTANCE OF MONEY:
The importance of money is clear when you factor in the costs of necessities to sustain life. It can’t buy happiness, but our well-being and a proper lifestyle.
1. Money gives you all kinds of freedom and makes you independent.
2. Money gives you the power to achieve your dreams and goals you have always been working hard for.
3. With the money you can live wherever you want, take care of your necessities, and practice your hobbies.
4. It makes you financially independent and you don’t have to rely on your friends or parents to get something you desire.
5. When you have enough amount of money saved in your bank account, you don’t have to be uncomfortable while worrying about having a roof over your head because you’ll never be short of money.
6. You get your healthcare on time due to which you stay healthy and prosperous.
7. Money can’t buy happiness but it can help you buy some things which make you happy like security, freedom, and the power to pursue your dreams.
8. When you start to invest your money, it starts to work for you and help you produce more.
9. You can even pay for your own education when you earn money and you don’t have to rely on your parents which makes them proud.
10. Money makes you proud and respectful in front of the people you love.
DOWNSIDES OF MONEY:
Of course, there are disadvantages to the things which make you happy so there are downsides of money too including:
1. Obsession and addiction to money can bring hundreds of problems in your life.
2. Trying to acquire money at all costs, or constantly trying to acquire as much money as you can, could lead you to criminal behavior such as theft or robbery.
3. It could also cause you and your family problems if you focus too much on the money.
4. If you have a lot of money but no one to share your happiness with then you are unlikely to be the unluckiest.
5. Money can lead to disagreements when you and your partner or family fellows don’t agree on what should be done with the money.
6. money is one of the leading causes of divorce for couples.
7. The way people interact with money and the attitude they have towards money bring most of the cons related to money.
HOW TO SAVE MONEY WHILE SPENDING IT:
Financial struggles in someone’s life come due to spending more money instead of saving it. The main reason is that you take care of your desires so much that you forget that you have to save money while spending. Do you hate it when you really need money, but your wallet is empty? No matter how little or how much money you have, spending it wisely is a good idea. When you have competing demands for your money, it can be hard to make good decisions about what to buy and how to spend.
- TIPS TO SAVE AS MUCH MONEY AS POSSIBLE:
1. Before you figure out how to control your money, you first need to know where it’s going.
2. Track both your income and expenses and then make records of how much money you want to save from those expenses.
3. Install a cost tracker application to keep track.
4. Always save half of your income on a monthly basis so that they are available when you need them. Save money regularly in a box that can’t be opened without breaking it.
5. Create emergency savings.
6. Saving money for your retirement should be your top priority because that will be the time when you most need it.
7. Be sure you pay your bills on time otherwise you have to pay a lot of amount at once.
8. Separate wants from needs. Do you really need that iPhone 14 pro max when you have a phone already that works as other phones do? When money is less it should be only spent on necessities and the remaining should be saved.
9. Avoid using credit to pay bills because you spend more when using credit cards.
10. Stop spending a large amount of money on small purchases like gifts or vacations. Spending money on online shopping also leads to a lack of money.
11. Turn off appliances and lights when they are not needed.
CONCLUSION:
Money is the most important key gifted by god. Some people use it to fulfill their physical needs and some use it to invest to earn online. But money should only be used and earned in positive ways instead of doing crimes like bribery, robbery, theft, or murdering rich people. Furthermore, money should be saved for further use so that you don’t have to run after someone else and be dependent on others for money. Save wisely and earn wisely. One can earn more money in less time and effort by saving it and earning honestly.
