value of money easy essay

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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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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Construction Manager

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Urban Planner

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Highway Engineer

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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.

Naval Architect

A Naval Architect is a professional who designs, produces and repairs safe and sea-worthy surfaces or underwater structures. A Naval Architect stays involved in creating and designing ships, ferries, submarines and yachts with implementation of various principles such as gravity, ideal hull form, buoyancy and stability.

Orthotist and Prosthetist

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Veterinary Doctor

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.

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.

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.

Audiologist

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Hospital Administrator

The hospital Administrator is in charge of organising and supervising the daily operations of medical services and facilities. This organising includes managing of organisation’s staff and its members in service, budgets, service reports, departmental reporting and taking reminders of patient care and services.

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.

Videographer

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.

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.

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.

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.

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.

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.

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.

Linguistic meaning is related to language or Linguistics which is the study of languages. A career as a linguistic meaning, a profession that is based on the scientific study of language, and it's a very broad field with many specialities. Famous linguists work in academia, researching and teaching different areas of language, such as phonetics (sounds), syntax (word order) and semantics (meaning).

Other researchers focus on specialities like computational linguistics, which seeks to better match human and computer language capacities, or applied linguistics, which is concerned with improving language education. Still, others work as language experts for the government, advertising companies, dictionary publishers and various other private enterprises. Some might work from home as freelance linguists. Philologist, phonologist, and dialectician are some of Linguist synonym. Linguists can study French , German , Italian .

Public Relation Executive

Travel journalist.

The career of a travel journalist is full of passion, excitement and responsibility. Journalism as a career could be challenging at times, but if you're someone who has been genuinely enthusiastic about all this, then it is the best decision for you. Travel journalism jobs are all about insightful, artfully written, informative narratives designed to cover the travel industry. Travel Journalist is someone who explores, gathers and presents information as a news article.

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

Merchandiser.

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.

Metallurgical Engineer

A metallurgical engineer is a professional who studies and produces materials that bring power to our world. He or she extracts metals from ores and rocks and transforms them into alloys, high-purity metals and other materials used in developing infrastructure, transportation and healthcare equipment.

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.

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.

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.

ITSM Manager

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

Business Intelligence Developer

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Essay On Money: 100, 250 Words Samples

Updated on
Nov 9, 2023

Why do you think money is important? Can we live without money? Does money have its own value? What’s the difference between hard money and digital money? When we plan on buying something, we have to pay a certain amount. Let’s say you want to buy a wristwatch worth $50. How do you compare that commodity with money? Do they have equal value? Is there any authority that states the value of money ? These and several other questions about money can make one wonder why money is given so much importance. Let’s go in-depth with an essay on money and find answers to all these questions.

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What is money, why is money so important, essay on money in 100 words, essay on money in 250 words.

Shiva Tyagi

With an experience of over a year, I've developed a passion for writing blogs on wide range of topics. I am mostly inspired from topics related to social and environmental fields, where you come up with a positive outcome.

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138 Research Topics on Money - Essay Topics, & More

Welcome to our list of money essay topics! Here, we’ve collected the most interesting research topics about money, titles for essays, presentation ideas, and even samples. Use them to get inspired!

🏆 Best Essay Topics on Money

✍️ money essay topics for college, 👍 good money research topics & essay examples, 🎓 most interesting research topics about money.

💡 Simple Money Topics to Write About

❓ Research Questions About Money

Can Money Always Buy Everything You Want?
The Philosophy of Money by Georg Simmel
Comparison Between Love and Money in Life
Why Men Spend More Money Than Women?
How to Teach Children to Value Money
Time Value of Money in a Medical Organization
History and Role of the Money
Aspects of Money Management The paper states that money management is a critical skill, which will help improve the financial well-being and reduce the stress associated with money.
Metaphysical Secrets of Manifesting Money Abundance Money is one of the most important influencing factors in modern life. Some scholars single it out as one of the three most distorting forces of human existence.
Financial Planning. Money Management Skill Financial literacy can be defined as knowledge about financial planning and management that allows making reasonable choices about money spending and saving.
Tradesmart Inc.: The Money-Back Guarantee Tradesmart Inc. is a fairly broad marketplace, which, in addition to low prices, also provides customers with a unique policy of returning money for the goods.
Money Issues in Romantic and Marital Relationships Money often causes issues in relationships because of changing roles in the household, increasing expenses, financial infidelity, and lack of financial goals.
Stealing Money From Corporations Stealing money from corporations affects the financial sector of the business and economy and reflects the ethical issues of the act.
Money Issues in a Relationship In the contemporary world, both men and women contribute equally to the economy of the household. This has changed the household role of men from being the sole breadwinners.
Bitcoin: The Use of the Digital Money The paper has elaborated Bitcoin is used, its features, and its impacts on society. The digital currency has features similar to other currencies, such as durability.
Monetary Theory and Policy. Money in the Utility Function Money is an asset, making positive or negative or some other functional effect. Goods, demands, propositions are constantly dependent on the money supply.
Art’ and Money Relations While the cultural value of many artworks exceeds material dimensions, it is hard to imagine how the masterpieces would be preserved without being involved in commodity-money relations.
Money: History, Functions and Types Money is any commodity or token that serves as a medium of exchange that is legally and socially acknowledged in payment for services and goods and in the disbursement of debts.
Lloyd’s Tsb Bank Is Under Fire for Money Laundering Offense This research article discusses the role of the bank, either knowingly or unknowingly, in laundering the money obtained by cheating.
Money to Charity: Moral Differences Many families across the globe continue living below the poverty line and cannot meet their basic needs like food, health, or even sleep.
Is Money a Virtue or Evil: Discussion The study will have to document how money has been used in good ways through spreading the gospel and how it has been used in evil ways for personal or selfish purposes.
Governmental Organizations: Value for Money Audits and Performance Audits Value for Money audit and performance audit have different objectives and complement each other, but neither is sufficient on its own to audit an organization’s performance.
Analysis of Anti-Money Laundering Strategies Money-laundering has been a significant problem for Canada because such a practice enables and facilitates many criminal activities such as drug trade, fraud or even global terrorism.
Foundations and Applications of the Time Value of Money This paper intends to discuss the concept of time value of money. The goal is to show that current cash flow is valued highly compared with future cash flows.
Money and Expenditures: Personal Opinion This article is the author’s account of her relationship with money, financial commitment, and spending planning.
Illegal Immigrants – They Are Money The paper looks at the issue of “illegal immigrants” to the US from the perspective of their value to businesses as cheap labor and as a market for their goods like credit cards.
Time Value of Money and Interest Rate Risk Time value of money (TVM) is a financial concept, which implies that money available to an individual or a company at the present time is much more valuable.
Forecasting and Time Value of Money Time value of money is a valuable instrument that helps comprehend the value of a currency in relation to a given period and significantly impact investing decision.
Money and Relationship in King Lear by Shakespeare King Lear, one of Shakespeare’s most well-known tragedies, is a nihilistic story of destruction, money, and power conflicts that was originally performed in 1606.
Personal Finance: Turning Money Into Wealth There are many different bond kinds, and each has benefits and drawbacks for the parties involved. Municipal and corporate bonds will be reviewed in this session.
Divine Currency: The Theological Power of Money in the West Money in Christianity is a dangerous matter, which requires careful and proper management to stay on the path of Christ.
Politics, Money, and Free Expression In 2011, the Supreme Court “decided that corporations and unions could contribute an unlimited amount of money to political campaigns.”
Aspects of Functions of Money Money is one of the vital tools in society. The paper looks at the feasibility of money-stably completing these functions in the near future.
Inflation and Increase in Money Supply Even though the increase in the money supply might stimulate the economy, it is a dangerous strategy, and the Federal Reserve has to act with caution.
The Federal Reserve System and the Money Supply The Federal Reserve (FR) has three main tools to control the money supply in the economy: the discount rate, open market operations, and reserve requirements.
Social Work Assignment: Gender, Money, and the Charity Organization Society Throughout the history of its development, the sphere of social work has witnessed the work of various contributors dedicated to achieving social equality.
Money, Happiness, and Materialism Correlation The paper concludes that happiness doesn’t depend on material goods, and it should be understood that respect and empathy are superior to any material wealth.
Daily Budget Cutting: Methods of Saving Money Nowadays, there are many more possibilities to spend additional money than in the past. Consequently, people should be more attentive to their budget and spending structure.
Financial Management: Where Does the Money Go It is increasingly possible to hear about the importance of financial literacy in the modern world, which largely boils down to thoughtful money management.
How Money Laundering Practices Violate Financial Ethics Corruption is one of the biggest problems a government can face, and in this blog, the author aims to explain how money laundering practices violate financial ethics.
Money as a Means Rather Than a Result of Achieving Happiness The paper states that one can note that money is a tool that allows buying things that make a person happy, but money itself does not bring happiness.
Money Laundering, Corruption and Terrorism Issues Money laundering, corruption and terrorism are rife in East and Southern Africa is largely attributed to the abject poverty that at times seems to be endemic.
Firms Raising Money Through Debt vs. Equity Debts as a source of operating funds can be from within or outside the company specifically individual borrowings or banks.
Eastern and Southern Africa Anti-Money Laundering Group Money laundering, corruption and terrorism are rife in East and Southern Africa. This phenomenon is attributed to the abject poverty that seems to be endemic in this region.
This American Life: Toxie Asset by Planet Money When recounting the story of Toxie, the reporters explain how “she” came to be, and how her life began at the peak of the housing market, progressed through the years.
Montley Fool Money Guide: A Book’s Review It is an educative book that gives an insight into saving, spending, and investing. The author tries to bring out the foolish things people do with their money.
Money Supply in the United States This essay discusses the money supply, what constitutes it, and the current supply in the US. It will also examine how the COVID-19 pandemic affected the M2 supply in the country.
Finance, Currency Alternatives, and Money in the Bible The currency used in all countries nowadays is an example of fiat money, meaning that it lacks intrinsic value.
”Money Supply” Article by Enam Ahmed Analysis In this article, Enam Ahmed explains why central banks should use the Divisia approach to measure the effectiveness of monetary policies.
York College Medical Center Managing Grant Money Despite numerous positive effects that financial recognition of the employees could bring to the general state of the center, free healthcare services are of higher priority.
Men, Women & Money – How the Sexes Differ with Their Finances’ Article Review? Amy Livingston’s article Men, Women & Money – How the Sexes Differ with Their Finances provides comparative gender-related research.
Can Money Buy Happiness? This article analyzes Sandy LaMotto’s research that money brings happiness and that selfish spending is associated with a good mood.
What Does Money Have to Do With It? The policy-oriented toward providing judges with the information on the costs of sentencing types can be discussed as rather controversial.
The Money Factor in Drug and Alcohol Treatment A vast number of individuals fail to take up drug treatment because they are unable to raise the money that is required to enroll in such a program.
Exchange Rate and Price: U.S. and Chinese Money The exchange rate quotation is derived by stating the number of units of term currency that can be bought in terms of the unit currency, which is also known as the base currency.
Entrepreneurship. Money in the Resource Equation Money is the least important part of the resource equation because starting a new business requires an entrepreneur’s ability to take risks.
Macroeconomics: Monetary Policy in the United States There are various monetary policy tools which can be used by the fed in order to achieve its desired policy objectives.
“Illegal Immigrants: They’re Money” by Rodrigez The focal point of the paper is to present a critical evaluation of Gregory Rodrigez’s article Illegal Immigrants: They’re Money.
“Money, Greed, and God: Why Capitalism Is the Solution and Not a Problem” by Jay Richards In his book “Money, Greed, and God,” Jay Richards, an American analytical philosopher, seeks to address the most common myths about capitalism.
“Rivers of Blood and Money” Article by Burden The article “Rivers of Blood and Money” by Burden takes a different approach when analyzing the issue of anti-Semitism and events before and during the Holocaust.
Money and Happiness in Economic Theories The pursuit of additional wealth and income usually becomes addictive thereby reducing an individual’s time with their family members and friends and limiting their social life.
Money and Politics in Healthcare Reform Having initiated the healthcare reform, President Obama met stiff opposition to the insurance and pharmaceutics lobby. It would be disadvantageous and made them lose revenue.
How Can American Cities Raise More Money? One of the main ways through which urban governments in the United States can avert revenue problems is through prudent reduction of services that they currently offer.
“Where Does the Money Go?” by Scott Bittle and Jean Johnson In their book Where Does the Money Go?, Scott Bittle and Jean Johnson focus on the growing national debt of the United States and examine inefficiencies that led to the crisis.
World Money: From the Eurodollar to the Sinodollar
Treasury Operations, Bank Credit, and the Money Market
Working From Home Can Earn You Money
The Money Demand Function for the Euro Area: Some Empirical Evidence
Trade Credit and the Money Market
U.S. Domestic Money, Inflation and Output
The U.S. Money Market and the Term Auction Facility in the Financial Crisis of 2007–2009
Varying the Money Supply of Commercial Banks
The Uses of the Money in the Six Century B.C
Tight Money Policies and Inflation Revisited
Working Through the Distribution: Money in the Short and Long Run
Utilizing the Time Value of Money
Women Are Working and Spending Money Same as Men
Wall Street: Money Never Sleeps
Velocity and Money Growth Variability: Evidence From Japan
The Swiss Sovereign Money Initiative
Velocity and the Variability of Anticipated and Unanticipated Money Growth in Malaysia
The Translog Utility Function and the Demand for Money in the United States
Why Money Talks and Wealth Whispers: Monetary Uncertainty and Mystique?
Triodos Bank: Conscious Money in Action
Transactions Costs, the Wage Rate, and the Demand for Money
The Obsession With Money and the New Consumer Culture of the 1920s
U.S. Banking and Money
The Relationship Between Government Deficits, Money Growth and Inflation
Understanding How Money Works

Simple Money Topics to Write About

The Rules for Saving Money by Consolidating Debt
Thinking About Monetary Policy Without Money
The Relationship Between Economic Growth and Money Laundering
Work Can Provide More Than Money
Velocity and the Growth of Money in the United States, 1970-1985
Trade, Money, and Employment in Intertemporal Optimizing Models of Growth
Unemployment, Real Wages and the Money Supply in Australia
The Money Demand and the Loss of Interest for the Euro in Romania
Wealth, Financial Liberalization, and the Demand for Money in Japan
The Relationship Between Mobile Money Technology and Financial Development
U.S. Narrow Money for the Twenty-First Century
Working for Little Money: Does Germany Need a Minimum Wage?
Where Has the Money Gone? The Case of Value Added Tax Revenue Performance in Indonesia
The Trouble With Money: A Prescription for America’s Financial Fever
Why Most PPC Advertisers Lose Money?
Unconventional Monetary Policy and Money Demand
Winning Money Online With Web Analytics
Utility Function Transformations and Money Illusion: Reply and Further Results
The Relation Between Money, Income and Prices in South Africa
York Times Victims Money Fund
Why Isn’t Money Considered Capital in Economics?
Tight Money and the Sustainability of Public Debt
Wealth and How Money Influences People’s Lives
Tight Money-Tight Credit: Coordination Failure in the Conduct of Monetary and Financial Policies
Can Money Buy Happiness and Freedom?
Does Money Equal Power in American Politics?
Does Money Improve Academic Achievement?
Does Ones Success Depend on the Amount of Money a Person Earns?
What Are Some Fundamental Strategies for Saving Money?
How Does Federal Reserve Control the Money Supply?
How Does Inflation Affect the Function of Money?
How Does Shakespeare Present the Issues of Love and Money in His Plays?
How Does the RSPCA Persuade Us to Part With Our Money?
How Money and Appearance Control the World?
How Money Changes the Way We Think and Behave?
How Money Has Become the Enemy of Our Society?
How Money Was Created and the Basic Political Ideology of Money?
How Much Money Does California Get From the Federal Government?
What Are the Anticipations and the Nonneutrality of Money?
What Is the Role of the State and the Hierarchy of Money?
What Alternative Approaches to Money and Growth Are There?
What Are the Statistical Mechanics of Money?
What Is the Influence of Money on Medical Science?
What Is the Development of a Money Attitude Scale?
Will Money Increase Subjective Well-being?
What Is the Structure and Performance of the Money Management Industry?
Why Is There a Difficulty With the Optimum Quantity of Money?
What Are the Distributions of Money in Model Markets of Economy?
What Are the Monetary Policy Implications of Digital Money?

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StudyCorgi. (2022, February 11). 138 Research Topics on Money - Essay Topics, & More. https://studycorgi.com/ideas/money-essay-topics/

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StudyCorgi . 2022. "138 Research Topics on Money - Essay Topics, & More." February 11, 2022. https://studycorgi.com/ideas/money-essay-topics/.

These essay examples and topics on Money were carefully selected by the StudyCorgi editorial team. They meet our highest standards in terms of grammar, punctuation, style, and fact accuracy. Please ensure you properly reference the materials if you’re using them to write your assignment.

This essay topic collection was updated on January 8, 2024 .

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From the Heart to Higher Education: The 2021 College Essays on Money

Each year, we ask high school seniors to send us college application essays that touch on money, work or social class. Here are five from this year’s incoming college freshmen.

Credit... Robert Neubecker

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By Ron Lieber

June 18, 2021

When the most selective — or, even better, rejective — schools in the United States are accepting under 10 percent of the people pleading for a spot in the next freshman class, it eventually becomes impossible to know why any one person receives an offer, or why a student chooses a particular school.

So in this particularly unpredictable season — as we publish a selection of application essays about money, work or social class for the ninth time — we’ve made one small but permanent change: We (and they) are going to tell you where the writers come from, but not where they are headed.

Our overarching point in publishing their essays isn’t to crack the code on writing one’s way into Yale or Michigan, as if that were even possible. Instead, it’s to celebrate how meaningful it can be to talk openly about money and write about it in a way that makes a reader stop and wonder about someone else’s life and, just maybe, offers a momentary bit of enlightenment and delight.

One writer this year helps her mother find a new way of bringing joy into the world, while another discovers the cost of merely showing up if you’re a female employee. A young man reflects on his own thrift, while a young woman accepts a gift of ice cream and pays a price for it. Finally, caregiving becomes a source of pride for someone young enough to need supervision herself.

Each of the writers will make you smile, eventually. And this year in particular, we — and they — deserve to.

“She began to cry and told me it was too late for her. I could not bear to watch her struggle between ambition and doubt.”

New York — Bronx High School of Science

My mom finds a baffling delight from drinking from glass, hotel-grade water dispensers. Even when three-day-old lemon rinds float in stale water, drinking from the dispenser remains luxurious. Last year for her birthday, I saved enough to buy a water dispenser for our kitchen counter. However, instead of water, I filled it with handwritten notes encouraging her to chase her dreams of a career.

As I grew older, I noticed that my mom yearned to pursue her passions and to make her own money. She spent years as a stay-at-home mom and limited our household chores as much as she could, taking the burden upon herself so that my brothers and I could focus on our education. However, I could tell from her curiosity of and attitudes toward working women that she envied their financial freedom and the self-esteem that must come with it. When I asked her about working again, she would tell me to focus on achieving the American dream that I knew she had once dreamed for herself.

For years, I watched her effortlessly light up conversations with both strangers and family. Her empathy and ability to understand the needs, wants and struggles of a diverse group of people empowered her to reach the hearts of every person at a dinner table, even when the story itself did not apply to them at all. She could make anyone laugh, and I wanted her to be paid for it. “Mom, have you ever thought about being a stand-up comedian?”

She laughed at the idea, but then she started wondering aloud about what she would joke about and how comedy shows were booked. As she began dreaming of a comedy career, the reality of her current life as a stay-at-home mom sank in. She began to cry and told me it was too late for her. I could not bear to watch her struggle between ambition and doubt.

Her birthday was coming up. Although I had already bought her a present, I realized what I actually wanted to give her was the strength to finally put herself first and to take a chance. I placed little notes of encouragement inside the water dispenser. I asked my family and her closest friends to do the same. These friends told her other friends, and eventually I had grown a network of supporters who emailed me their admiration for my mom. From these emails, I hand wrote 146 notes, crediting all of these supporters that also believed in my mom. Some provided me with sentences, others with five-paragraph-long essays. Yet, each note was an iteration of the same sentiment: “You are hilarious, full of life, and ready to take on the stage.”

On the day of her birthday, my mom unwrapped my oddly shaped present and saw the water dispenser I bought her. She was not surprised, as she had hinted at it for many years. But then as she kept unwrapping, she saw that inside the dispenser there were these little notes that filled the whole thing. As she kept picking out and reading the notes, I could tell she was starting to believe what they said. She started to weep with her hands full of notes. She could not believe the support was real, that everyone knew she had a special gift and believed in her.

Within two months, my mom performed her first set in a New York comedy club. Within a year, my mom booked a monthly headlining show at the nation’s premier comedy club.

I am not sure what happened to the water dispenser. But I have read the notes with my mom countless times. They are framed and line the walls of her new office space that she rented with the profits she made from working as a professional comedian . For many parents, their children’s careers are their greatest accomplishment, but for me my mom’s is mine.

Adrienne Coleman

“The intense Saturday night crucible of the restaurant, with all the unwanted phone numbers, catcalls and wandering hands, jolted me into an unavoidable reckoning with feminism in a professional world.”

Locust Valley, N.Y. — Friends Academy

“Pull down your mask, sweetheart, so I can see that pretty smile.”

I returned a well-practiced smile with just my eyes, as the eight guys started their sixth bottle of Brunello di Montalcino. Their carefree banter bordered on heckling. Ignoring their comments, I stacked dishes heavy with half-eaten rib-eye steaks and truffle risotto. As I brought their plates to the dish pit, I warned my female co-workers about the increasingly drunken rowdiness at Table 44.

This was not the first time I’d felt uncomfortable at work. When I initially presented my résumé to the restaurant manager, he scanned me up and down, barely glancing at the piece of paper. “Well, you’ve got no restaurant experience, but you know, you package well. When can you start?” I felt his eyes burn through me. That’s it? No pretense of a proper interview? “Great,” I said, thrilled at the prospect of earning good money. At the same time, reduced to the way I “package,” I felt degraded.

I thought back to my impassioned feminist speech that won the eighth-grade speech contest. I lingered on the moments that, as the leader of my high school’s F-Word Club, I had redefined feminism for my friends who initially rejected the word as radical. But in these instances, I realized how my notions of equality had been somewhat theoretical — a passion inspired by the words of Malala and R.B.G. — but not yet lived or compromised.

The restaurant has become my real-world classroom, the pecking order transparent and immutable. All the managers, the decision makers, are men. They set the schedules, determine the tip pool, hire pretty young women to serve and hostess, and brazenly berate those below them. The V.I.P. customers are overwhelmingly men, the high rollers who drop thousands of dollars on drinks, and feel entitled to palm me, a 17-year-old, their phone numbers rolled inside a wad of cash.

Angry customers, furious they had mistakenly received penne instead of pane, initially rattled me. I have since learned to assuage and soothe. I’ve developed the confidence to be firm with those who won’t wear a mask or are breathtakingly rude. I take pride in controlling my tables, working 13-hour shifts and earning my own money. At the same time, I’ve struggled to navigate the boundaries of what to accept and where to draw the line. When a staff member continued to inappropriately touch me, I had to summon the courage to address the issue with my male supervisor. Then, it took weeks for the harasser to get fired, only to return to his job a few days later.

When I received my first paycheck, accompanied by a stack of cash tips, I questioned the compromises I was making. In this physical and mental space, I searched for my identity. It was simple to explore gender roles in a classroom or through complex characters in a Kate Chopin novel. My heroes, trailblazing women such as Simone de Beauvoir and Gloria Steinem, had paved the road for me. In my textbooks, their crusading is history. But the intense Saturday night crucible of the restaurant, with all the unwanted phone numbers, catcalls and wandering hands, jolted me into an unavoidable reckoning with feminism in a professional world.

Often, I’ve felt shame; shame that I wasn’t as vocal as my heroes; shame that I feigned smiles and silently pocketed the cash handed to me. Yet, these experiences have been a catalyst for personal and intellectual growth. I am learning how to set boundaries and to use my professional skills as a means of empowerment.

Constantly re-evaluating my definition of feminism, I am inspired to dive deeply into gender studies and philosophy to better pursue social justice. I want to use politics as a forum for activism. Like my female icons, I want to stop the burden of sexism from falling on young women. In this way, I will smile fully — for myself.

Hoseong Nam

“I feel haunted, cursed by the compulsion to diligently subtract pennies from purchases hoping it will eventually pile up into a mere dollar.”

Hanoi, Vietnam — British Vietnamese International School

Despite the loud busking music, arcade lights and swarms of people, it was hard to be distracted from the corner street stall serving steaming cupfuls of tteokbokki — a medley of rice cake and fish cake covered in a concoction of hot sweet sauce. I gulped when I felt my friend tugging on the sleeve of my jacket, anticipating that he wanted to try it. After all, I promised to treat him out if he visited me in Korea over winter break.

The cups of tteokbokki, garnished with sesame leaves and tempura, was a high-end variant of the street food, nothing like the kind from my childhood. Its price of 3,500 Korean won was also nothing like I recalled, either, simply charged more for being sold on a busy street. If I denied the purchase, I could console my friend and brother by purchasing more substantial meals elsewhere. Or we could spend on overpriced food now to indulge in the immediate gratification of a convenient but ephemeral snack.

At every seemingly inconsequential expenditure, I weigh the pros and cons of possible purchases as if I held my entire fate in my hands. To be generously hospitable, but recklessly drain the travel allowance we needed to stretch across two weeks? Or to be budgetarily shrewd, but possibly risk being classified as stingy? That is the question, and a calculus I so dearly detest.

Unable to secure subsequent employment and saddled by alimony complications, there was no room in my dad’s household to be embarrassed by austerity or scraping for crumbs. Ever since I was taught to dilute shampoo with water, I’ve revised my formula to reduce irritation to the eye. Every visit to a fast-food chain included asking for a sheet of discount coupons — the parameters of all future menu choice — and a past receipt containing the code of a completed survey to redeem for a free cheeseburger. Exploiting combinations of multiple promotions to maximize savings at such establishments felt as thrilling as cracking war cryptography, critical for minimizing cash casualties.

However, while disciplined restriction of expenses may be virtuous in private, at outings, even those amongst friends, spending less — when it comes to status — paradoxically costs more. In Asian family-style eating customs, a dish ordered is typically available to everyone, and the total bill, regardless of what you did or did not consume, is divided evenly. Too ashamed to ask for myself to be excluded from paying for dishes I did not order or partake in, I’ve opted out of invitations to meals altogether. I am wary even of meals where the inviting host has offered to treat everyone, fearful that if I only attended “free meals” I would be pinned as a parasite.

Although I can now conduct t-tests to extract correlations between multiple variables, calculate marginal propensities to import and assess whether a developing country elsewhere in the world is at risk of becoming stuck in the middle-income trap, my day-to-day decisions still revolve around elementary arithmetic. I feel haunted, cursed by the compulsion to diligently subtract pennies from purchases hoping it will eventually pile up into a mere dollar, as if the slightest misjudgment in a single buy would tip my family’s balance sheet into irrecoverable poverty.

Will I ever stop stressing over overspending?

I’m not sure I ever will.

But I do know this. As I handed over 7,000 won in exchange for two cups of tteokbokki to share amongst the three of us — my friend, my brother and myself — I am reminded that even if we are not swimming in splendor, we can still uphold our dignity through the generosity of sharing. Restricting one’s conscience only around ruminating which roads will lead to riches risks blindness toward rarer wealth: friends and family who do not measure one’s worth based on their net worth. Maybe one day, such rigorous monitoring of financial activity won’t be necessary, but even if not, this is still enough.

Neeya Hamed

“In America, we possess all the tangible resources. Why is it, then, that we fruitlessly struggle to connect with one another?”

New York — Brooklyn Friends School

Sitting on monobloc chairs of various colors, the Tea Ladies offer healing. Henna-garnished hands deliver four cups of tea, each selling for no more than 10 cents. You may see them as refugees who fled the conflict in western Sudan, passionately working to make ends meet by selling tea. I see them as messengers bearing the secret ingredients necessary to truly welcome others.

On virtually every corner in Sudan, you can find these Tea Ladies. They greet you with open hearts and colorful traditional Sudanese robes while incense fills the air, singing songs of ancient ritual. Their dexterous ability to touch people’s lives starts with the ingredients behind the tea stand: homegrown cardamom, mint and cloves. As they skillfully prepare the best handmade tea in the world, I look around me. Melodies of spirited laughter embrace me, smiles as bright as the afternoon sun. They have a superpower. They create a naturally inviting space where boundless hospitality thrives.

These humble spaces are created by people who do not have much. Meanwhile, in America, we possess all the tangible resources. Why is it, then, that we fruitlessly struggle to connect with one another? On some corners of Mill Basin, Brooklyn, I discovered that some people don’t lead their lives as selflessly.

I never imagined that the monobloc chair in my very own neighborhood would be pulled out from under me. Behind this stand, the ingredients necessary to touch my life were none but one: a friendly encounter gone wrong. While waiting for ice cream, a neighbor offered to pay for me. This deeply offended the shop owner glaring behind the glass; he resented my neighbor’s compassion because his kindness is reserved for those who do not look like me. The encounter was potent enough to extract the resentment brewing within him and compelled him to project that onto me.

“I guess Black lives do matter then,” he snarked.

His unmistakably self-righteous smirk was enough to deny my place in my community. It was enough to turn a beautiful sentiment of kindness into a painfully retentive memory; a constant reminder of what is to come.

Six thousand three hundred and fifty-eight miles away, Sudan suddenly felt closer to me than the ice cream shop around the corner. As I walked home, completely shaken and wondering what I did to provoke him, I struggled to conceptualize the seemingly irrelevant comment. When I walk into spaces, be it my school, the bodega or an ice cream shop, I am conscious of the cardamom mint, and cloves that reside within me; the ingredients, traits and culmination of thoughts that make up who I am, not what I was reduced to by that man. I learned, however, that sometimes the color of my skin speaks before I can.

I realized that the connotations of ignorance in his words weren’t what solely bothered me. My confusion stemmed more from the complete lack of care toward others in his community, a notion completely detached from everything I believe in. For the Tea Ladies and the Sudanese people, it isn’t about whether or not people know their story. It isn’t about solidarity in uniformity, but rather seeing others for who they truly are.

Back in Khartoum, Sudan, I looked at the talents of the Tea Ladies in awe. They didn’t necessarily transform people with their tea, they did something better. Every cup was a silent nod to each person’s dignity.

To the left of me sat a husband and father, complaining about the ridiculous bread prices. To the right of me sat a younger worker who spent his days sweeping the quarters of the water company next door. Independent of who you were or what you knew before you got there, their tea was bridging the gap between lives and empowering true companionship, all within the setting of four chairs and a small plastic table.

Sometimes, that is all it takes.

“I was the memory keeper, privy to the smallest snippets that go forgotten in a lifetime.”

Lafayette, Calif. — Miramonte High School

I was the ultimate day care kid — I never left.

From before I could walk to the start of middle school, Kimmy’s day care was my second home. While my classmates at school went home with stay-at-home moms to swim team and Girl Scouts, I traveled to the town next door where the houses are smaller, the parched lawns crunchy under my feet from the drought.

At school, I stuck out. I was one of the few brown kids on campus. Both of my parents worked full time. We didn’t spend money on tutors when I got a poor test score. I’d never owned a pair of Lululemon leggings, and my mom was not versed in the art of Zumba, Jazzercise or goat yoga. At school, I was a blade of green grass in a California lawn, but at day care, I blended in.

The kids ranged from infants to toddlers. I was the oldest by a long shot, but I liked it that way. As an only child, this was my window into a sibling relationship — well, seven sibling relationships. I played with them till we dropped, held them when they cried, got annoyed when they took my things. And the kids did the same for me. They helped as I sat at the counter drawing, and starred in every play I put on. They watched enviously as I climbed to the top of the plum tree in the backyard.

Kimmy called herself “the substitute mother,” but she never gave herself enough credit. She listened while I gushed about my day, held me when I had a fever and came running when I fell out of the tree. From her, I learned to feed a baby a bottle, and recognize when a child was about to walk. I saw dozens of first steps, heard hundreds of first words, celebrated countless birthdays. Most importantly, I learned to let the bottle go when the baby could feed herself.

And I collected all the firsts, all the memories and stories of each kid, spinning elaborate tales to the parents who walked through the door at the end of the day. I was the memory keeper, privy to the smallest snippets that go forgotten in a lifetime.

I remember when Alyssa asked me to put plum tree flowers in her pigtails, and the time Arlo fell into the toilet. I remember the babies we bathed in the kitchen sink, and how Kimmy saved Gussie’s life with the Heimlich maneuver. I remember the tears at “graduation,” when children left for preschool, and each time our broken family mended itself when new kids arrived.

When I got home, I wrote everything down in my pink notebook. Jackson’s first words, the time Lolly fell off the couch belting “Let It Go.” Each page titled with a child’s name and the moments I was afraid they wouldn’t remember.

I don’t go to day care anymore. Children don’t hide under the table, keeping me company while I do homework. Nursing a baby to sleep is no longer part of my everyday routine, and running feet don’t greet me when I return from school. But day care is infused in me. I can clean a room in five minutes, and whip up lunch for seven. I remain calm in the midst of chaos. After taming countless temper tantrums, I can work with anyone. I continue to be a storyteller.

When I look back, I remember peering down from the top of the plum tree. I see a tiny backyard with patches of dead grass. But I also see Kimmy and my seven “siblings.” I see the beginnings of lives, and a place that quietly shapes the children who run across the lawn below. The baby stares curiously up at me from the patio, bouncing in her seat. She will be walking soon, Kimmy says. As will I.

Ron Lieber has been the Your Money columnist since 2008 and has written five books, most recently “The Price You Pay for College.” More about Ron Lieber

Essay on Money in English for Children and Students

Table of Contents

Essay on Money: Money is the medium used by people to buy required goods and services. It is used as the source to fulfill basic needs and is also a source of comfort in life. 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 have their own importance and benefits. Nevertheless, money is a useful and necessary commodity to live contentedly disposing all your usual liabilities towards your family and loved ones.

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Long and Short Essay on Money in English

We have provided some simply written essay on money to help your kids to do better in their essay writing competition.

These Money Essay are written in easy English so that student of any class can easily understand it and also reiterate it or write it down, whenever required.

We have divided following essays under long and short essay on money in English according to the need, to help your kids to do better in their school competitions.

These essay on money will prove useful in your school assignments or general discussion with your family and friends.

Money Essay 1 (100 words)

Money is the most basic requirement of the life without which one cannot fulfill his basic needs and requirements of the daily routine. We can never compare the importance of the money with the importance of love or care. When one need money, love cannot fulfill this requirement and if one need love, money cannot fulfill this requirement.

Both are highly required for the healthy life but they have their significance and importance separately. Both are required by us on urgent basis so we cannot rank both on the same scale. We need money everywhere such as to eat food, to drink water or milk, to see TV, news, subscribe newspaper, wear clothe, get admission and many more requirements.

Money Essay 2 (150 words)

Money is the basic requirement of the life without which one cannot imagine a healthy and peaceful life. We need money even buying a little needle. In the modern time, where growth of civilization is going very fast and following western culture, we need more money because of the increasing prices of everything. Earlier there was a system called barter system in which one was allowed to exchange things to get goods however, in the modern one need only money to buy everything.

The importance of money is increasing day by day as the living has become so costly. The significance of money has increased to a great extent in the field of production, consumption, exchange, distribution, public finance and etc. It plays a very crucial role in determining the input, income, employment, output, general price level of anything, etc.

Money Essay 3 (200 words)

In such a costly and competitive society and world, no one of us can live without money. We need money to fulfil our basic needs of the life such as buying food, and other many basic necessities of life which are almost impossible to buy without money. People in the society who are rich and have property are looked as honourable and respectful person of the society however a poor person is seen as hatred without any good impression.

Money increases the position of the person in the society and gives good impression to him. All of us want to be rich by earning more money through good job or business in order to fulfil all the increasing demands of the modern age. However, only few people get this chance of completing their dreams of being a millionaire.

So, money is the thing of great importance all through the life. Money is required by everyone whether he/she is rich or poor ad living in urban areas or rural areas. People in the urban areas are earning more money than the people living in backward or rural areas as the people of the urban areas have more access to the technologies and get more opportunity because of the easy sources.

Essay on Jan Dhan Yojana

Money Essay 4 (250 words)

Money is very much required thing in the life however; it cannot buy things like time, love and true care. It can only fulfil the outer needs of the person and not the inner needs like true love. Now-a-days, everything has become so costly but necessary to buy for living a simple life. And what if we have no money, either we would die or suffer more if saved.

Money has capability to buy anything virtually and helps us a lot throughout the life. By taking the importance of the money in our life we should never destroy or waste the money without any purpose. We should not compare the money and love because both are required separately to run a successful life.

In this competitive world, everyone wants to get good study with higher education from the popular college and university to get good job in order to earn more money. A person needs more money to fulfil the requirement of the all members of the family especially one who is only working person of the family.

He or she needs to fulfil the eating, clothing and living requirements of the family members and for that money is required. Rich people of the society are given particular recognition and popularity however poor people live their life by arranging just food for two times a day. All the changes and differences are just because of the money.

Money Essay 5 (300 words)

Money is really a very important thing for the human beings to lead their life in the satisfactory way. Unlike animals and plants, we need more money everywhere. In order to live in the society, we need to maintain our status and position in the society for which we need money. In order to eat food or drink water, wear cloth, get admission to the school, take medicine or go to the hospital and other many activities we need lots of money. Now the topic arise is, where we got such required money. We need to get higher level study and do hard works to get good job or open our own business which requires more skill and confidence.

Earlier the condition of poor people was very poor because of the pressure of the rich people. They were not helping the poor people and use them only as a servant on the very low salary. However the condition of the poor people has become good as the rule and regulations of the government as been change in order to equalize the condition of both. Now everyone has equal rights to study higher and get good job. Many people understand that money is the origin of the evil in the mind however I do not think so because thinking is the process of human mind and not the creation of money.

I understand and believe that money is the most important key of happiness gifted by the God. It is the human mind to take anything in different ways. Some people take it only to fulfil their physical needs and they never take it heartily however some people understand everything to the money and they can do anything for getting the money such murder, corruption, underworld work, smuggling, promoting bribe, etc.

Money Essay 6 (400 words)

There is no any doubt that money is so essential for our healthy living. Money is almost everything for us to live a life and maintain the good stats in the society. It is the money which fulfils the need of bringing necessary comforts and amenities of the life. If one has money, he/she can get anything in his/her life. It is the money which helps us in developing good personality, improving confidence, makes us able to creditworthiness, improving capacity, increasing capabilities and enhancing our courage to a great level. 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 very important and powerful thing without which one cannot live and survive.

Now-a-days, in order to earn more money in wrong ways, bad people are taking help of corruption, bribe, smuggling, murder rich people of the society, and other callous activities by degrading the moral and ethical values of the humanity. Lazy people follow wrong ways to earn money as they understand that these ways are simple and easy however it is not true. One can earn more money in less time and effort but not for long; surely he would be lost in the near future as he is following wrong and weak way. The people who are earning money by following all the rules of humanity earn less money but for long time and they become the high status personality of the society.

People doing corruption save their money as a black money in other countries to keep hidden from the common public and use that money for bad works or increasing their physical luxury. However, common people of the society respects a lot to the people earning money using wrong techniques as they have fear of them and little bit greediness that they can get some money in return whenever required by giving them respect. They are generally called as the bhai or dada or don. Money cannot buy or stay the time as well as cannot give true love and care however highly required by all of us to run the life on the right path. It cannot give time and love however gives happiness, confidence, satisfaction, feeling of well being mentally and physically, makes life easy by solving all the difficulties, and many more.

All the essays on money given above are written by the professional content writer to help students in getting fulfilled their needs and requirements. Essay on money is generally assigned to the students to write something in their own way. Money essay is given under the category of general essay.

Frequently Asked Questions on Money

Who found money.

Money, in various forms like barter or trade, has existed since ancient times. The first coined money is believed to have been created by the Lydians, in what is now Turkey, around 600 BC.

Who said money is life?

This specific quote isn't attributed to a singular famous person. Various interpretations and contexts might exist, but the idea that money plays a significant role in many aspects of life is widely acknowledged.

What is money quotes?

A popular quote about money is, Money can't buy happiness, but it certainly helps.

What is the nature of money?

The nature of money is abstract. It has no intrinsic value but is accepted as a medium of exchange. Its value is determined by trust and the backing of an authority, like a government.

What is the value of money in life?

The value of money in life goes beyond purchasing power. It provides security, freedom, and opportunities, but isn't the sole determinant of happiness or success.

What is the importance of money?

Money is essential as it enables trade, provides financial security, meets daily needs, and offers the potential for a better life. It's a measure of one's ability to afford services and products.

What is money in own words?

Money is a tool that facilitates trade, allowing us to purchase what we need or desire. It represents value and can be saved, spent, or invested.

What is the few lines on money?

Money is a medium of exchange, used to buy goods and services. It acts as a unit of account, a store of value, and is universally accepted in transactions.

12 Powerful Essays on Money [ Importance, Value, Power ]-2024

Money is really an important role player in our lives. But, we need to accept, money is not everything. Though money has the power, you can enjoy and afford every material luxury of life. But that is short lived. Money can’t bring real happiness, peace, certainty, power and freedom.

List of Topics

We have written the following short and long essays on topic Money. These essays cover all related topics including; importance and power of money, is money everything, role of money in life etc.

Essay on Money | Value, Role & Importance of Money in Life

It cannot be denied that money is essential for our healthy living. In order to remain in good standings in society, we will need money to live a life and maintain our good standings.

The money is essential for providing necessary comforts and amenities of the life. When you have money, you have everything you could ever want.

In order for us to get a good personality we need money, which will also improve our self-confidence. We will become more credible, improve our capabilities, increase our confidence level, and enhance our courage to a greater extent.

With no money, no one will help us. In a world where nobody is willing to help, we feel helpless. A person cannot live and survive in today’s materialistic world without money.

Today, in order to earn more money through unfair means, bad people take assistance from corruption, bribes, smuggling, etc. People who are lazy may follow the wrong ways to earn money, assuming that these methods are easy and simple.

It is true that one can earn more money through less effort, but not for long; surely he will lose his money by following a wrong and weak path in the near future.

A person who earns money by following the rules of humanity earns less money but for a long period of time and then becomes a well known personality in the society.

People who commit corruption hide their money as black money in other countries to hide it from the general public. Their money is used for doing bad things or living in luxury.

It is generally observed that those who have more money by either means, are respected by ordinary people. As money is the factor of power in society. Those powerful people then wield social and political power in our society.

It is however an established fact that money is not the entire thing in our life. You can’t buy time with money . Neither you earn the real respect, love or affection when you have illegal money. The real joy of peace, happiness or satisfaction come through hard work, dedication, sincerity and peacefulness

Essay on Power of Money in Life

One cannot imagine a healthy and peaceful life without money. We need money even to buy a single needle. Nowadays, when everything is becoming more expensive and civilization is becoming increasingly advanced and following western culture, we need more money.

In the past, people relied on the barter system in which they would be able to exchange things for goods, but in the modern world, money is all that is necessary to purchase everything. Money is becoming more and more important as the cost of living increases.

A great deal of importance has been attached to money in the production, consumption, exchange, distribution, public finance, etc. As a result, it plays an important role in determining raw material input, income, employment, output, and general price levels of anything, etc.

Essay on Money is Everything

In a highly competitive and expensive society, no one can live without money. Food, clothing, and many other necessities of life are nearly impossible to buy without money.

A poor person in a society is viewed as an enemy due to their poverty. However, rich and powerful people are perceived as decent and honest people.

Money can increase a person’s status in the society and make him look good. To fulfill the ever-increasing demands of the modern age, we all strive to be wealthy through a good job or business. The reality is that very few people get this chance of becoming millionaires.

As a result, everything is dependent upon money, be it rich or poor, urban or rural. Money is essential to everyone, whether he or she is living in the city or in the country. In cities, people are earning a higher salary than those in rural or backward areas. This is because the people of urban areas have more access to the technologies and get more opportunities because they have access to the easy resources

Essay on Money is the Root of all Evils:

Money has been a part of human society since its inception. It has evolved from being used as a medium of exchange to becoming a symbol of power and success. People have always desired to accumulate wealth, and in today’s materialistic world, money has become the ultimate goal for many.

However, with this desire for wealth, comes numerous negative consequences that are often overlooked. In this essay, we will discuss how money can be considered as the root of all evils.

The Obsession with Money

In the pursuit of materialistic possessions, people often become obsessed with money. Money becomes their sole purpose in life, and they are willing to do whatever it takes to acquire it. This obsession can lead individuals down a path of greed, where they only care about their own financial gain without considering the consequences of their actions. As a result, many unethical and immoral activities such as fraud, theft, and corruption occur due to this unhealthy obsession with money.

Creates Disparity and Inequality

Another major issue caused by the love for money is the creation of disparity and inequality within society. People with more wealth tend to have better access to education, healthcare, and opportunities that can lead to a better quality of life. This creates an uneven playing field where those who are already financially stable have an advantage over others.

As a result, poverty rates increase, leading to social unrest and crime in society. Moreover, the gap between the rich and poor continues to widen as the wealthy become wealthier while the poor struggle to make ends meet.

Causes Conflict and Strife

Money can also be considered as the root of many conflicts and strife within society. As people become more obsessed with money, they are willing to go to extreme lengths to protect their wealth. This can lead to disputes and disagreements among individuals, communities, and even nations. Wars have been fought over resources and power, which ultimately stems from the desire for money.

On a smaller scale, family relationships can also be affected when one member becomes financially successful while others struggle. This creates tension and resentment within the family unit, leading to conflict and strain in relationships.

It Leads to Materialism and Consumerism

The pursuit of money also leads to a culture of materialism and consumerism. People often equate their self-worth and happiness with the possessions they own. This constant need for more, bigger, and better things can lead to excessive spending, debt, and financial strain.

Furthermore, the never-ending cycle of consumption has negative consequences on the environment as resources are depleted at an alarming rate. This consumeristic mindset also perpetuates a throwaway culture where items are discarded instead of being repaired or reused, leading to environmental pollution and waste.

In conclusion, while money may be necessary for survival and provides a sense of security, it can also be considered as the root of all evils in society. The unhealthy obsession with money leads to numerous negative consequences such as greed, inequality, conflict, and environmental degradation. It is essential to recognize the dangers of this love for wealth and strive towards a more balanced and equitable distribution of resources in society.

As the saying goes, “money cannot buy happiness,” and it is crucial to prioritize values such as compassion, empathy, and kindness over material possessions. So let us not forget that money is just a means to an end and not an end in itself. The true wealth lies in human relationships and making a positive impact on society, not in the accumulation of material possessions.

Essay on Money Management:

In today’s fast-paced world, money management is an essential skill that everyone should possess. It is the process of managing one’s finances wisely to achieve financial stability and security. Proper money management involves budgeting, saving, investing and controlling spending habits. In this essay, we will discuss the importance of money management and some tips for effective management.

One of the main reasons why money management is crucial is because it helps individuals to reach their financial goals. Whether it is buying a new house, funding education or planning for retirement, good money management can help achieve these goals. Proper budgeting allows individuals to allocate their income towards different expenses wisely. It also helps in identifying areas where one can cut down on unnecessary spending and save more money. By saving money, individuals can have a financial safety net for any unexpected expenses or emergencies.

In addition to achieving financial goals, effective money management also leads to a stress-free life. People who manage their money well are less likely to face financial difficulties and are better equipped to handle financial crises. They also have a sense of control over their finances and do not live paycheck-to-paycheck. This can reduce the stress and anxiety associated with money matters. Moreover, good money management can also improve relationships as financial problems are one of the leading causes of stress and conflicts in marriages and families.

Now let us discuss some tips for effective money management:

Creating a budget is the first step towards managing money properly. It helps in tracking expenses and controlling spending.
Setting financial goals is crucial as it gives direction to one’s financial decisions and motivates towards saving and investing.
Saving a portion of income regularly should be a priority. Experts recommend saving at least 10% to 15% of one’s income for future needs.
Controlling spending habits is essential to avoid unnecessary expenses and impulse purchases.
Investing money wisely can help in growing wealth and achieving long-term financial goals.
Regularly reviewing and adjusting the budget and financial plan is important to adapt to changing circumstances.

In conclusion, managing money well is crucial for achieving financial stability, reducing stress and improving relationships. By following some simple tips and being disciplined with finances, individuals can achieve their financial goals and lead a comfortable life.

Remember, it is never too late to start practicing good money management habits! So start today and secure your financial future. That’s all! Happy saving 🙂

Essay on Money Laundering:

Money laundering is a term used to describe the illegal process of concealing the true origins of money obtained through criminal activities. It involves disguising illegally obtained funds as legitimate income in order to avoid detection by law enforcement and financial institutions.

Money laundering has become a global problem, with an estimated $800 billion to $2 trillion laundered annually. In this essay, we will discuss the concept of money laundering, its impact on society, and some measures to combat it.

Origin of Money Laundering

The term money laundering originated from the Italian word “lavare,” which means to wash. It was first used in the 1920s by American gangsters who were involved in bootlegging liquor during Prohibition. These criminals created elaborate schemes to disguise their illegal profits as legitimate businesses or investments.

This facilitated the integration of illicit funds into the legal economy and made it difficult for law enforcement officials to trace the source of these funds. Since then, money laundering has evolved into a sophisticated global crime that involves the movement of huge sums of money across borders and through multiple financial institutions.

Impact on Society

Money laundering has far-reaching consequences for society. It undermines the integrity and stability of financial systems, distorts competition, and facilitates corruption. By allowing criminals to profit from their illegal activities, it perpetuates criminal behavior and poses a threat to national security.

It also has negative impacts on legitimate businesses as they may face unfair competition from those using laundered funds.

Furthermore, money laundering enables criminal organizations to sustain their operations by providing them with access to clean funds for financing terrorism, drug trafficking, human trafficking, and other illicit activities. Ultimately, this has a detrimental effect on the overall economy and society.

Measures to Combat Money Laundering

To combat money laundering, countries have implemented various laws and regulations. The Financial Action Task Force (FATF) is an intergovernmental organization that sets international standards for combating money laundering and terrorist financing.

It conducts regular evaluations of member countries’ efforts in implementing these standards and provides recommendations for improvement. Financial institutions are also required to implement strict know-your-customer (KYC) procedures to identify their customers and verify the source of funds.

Additionally, governments should increase collaboration with law enforcement agencies, financial intelligence units, and other regulatory bodies to share information and intelligence on suspicious activities. This will help in detecting and preventing money laundering activities more effectively.

In conclusion, money laundering is a serious global issue that has significant impacts on society. It is not only a financial crime but also a threat to national security and the integrity of our financial systems. To combat it successfully, there needs to be cooperation between governments, law enforcement agencies, and financial institutions.

Strict laws and regulations must be implemented and enforced, along with proper monitoring mechanisms. Only by working together can we effectively tackle this complex and ever-evolving problem of money laundering. So let us all do our part in preventing this illegal activity and contribute towards building a safer and more transparent world economy for everyone

Essay on Money Plant:

The Money Plant, also known as Devil’s Ivy or Golden Pothos, is a popular houseplant that is loved for its beautiful foliage and easy maintenance. It belongs to the family of Araceae and is native to the Solomon Islands in the South Pacific. This plant has been used in traditional medicine for centuries and is believed to bring good luck and prosperity.

The Money Plant is an evergreen vine with heart-shaped leaves that can grow up to 40 feet in length. Its leaves are glossy and have a marbled pattern in shades of green and yellow. The plant also produces small, white flowers, but they are insignificant compared to its lush foliage. It is often grown as a hanging plant or trained on a trellis for support.

One of the reasons why the Money Plant is so popular is because it can easily adapt to different environments and grow in low light conditions. It also has air-purifying properties, making it a great choice for indoor spaces. The plant is known to remove toxins such as formaldehyde, benzene, and xylene from the air, improving the overall air quality in your home or office.

Taking care of a Money Plant is relatively easy. It requires well-draining soil and moderate watering, making it suitable for people who don’t have a green thumb. The plant can also be propagated easily by stem cuttings, making it an ideal choice for beginner gardeners.

Apart from its aesthetic and health benefits, the Money Plant is also believed to bring financial prosperity. According to Feng Shui, placing a Money Plant in the southeast or east direction of your home can attract wealth and abundance. However, it is essential not to rely solely on the plant for good luck and instead work hard towards your goals.

In conclusion, the Money Plant is not only a beautiful and low-maintenance houseplant but also has cultural and metaphysical significance. Whether you believe in its luck-bringing properties or not, this plant is undoubtedly a great addition to any home or office space.

Essay on Money is not Everything:

Money is a powerful tool that can provide us with comfort, security and luxury. It is often seen as the ultimate goal in life, and people spend most of their time chasing it. However, money is not everything in life. It cannot buy happiness, love or good health. In fact, it can sometimes lead to more problems and conflicts in relationships.

Money can surely buy materialistic things that give us temporary pleasure, but true happiness comes from within. It is not something that can be bought with money. Many people have all the luxuries in the world but are still unhappy and unfulfilled.

This is because they lack strong relationships, a sense of purpose and inner peace. It is important to understand that money can only provide temporary satisfaction, but true happiness lies in the simple things in life like spending time with loved ones, helping others and pursuing our passions.

Moreover, love and relationships cannot be bought with money. True love and genuine relationships are built on trust, respect and mutual understanding.

These cannot be bought with money; they must be earned through sincere efforts. In fact, having too much money can sometimes create power imbalances in relationships, leading to conflicts and even breakups. Therefore, it is important not to let money become the priority in a relationship. Instead, we should focus on building strong and meaningful connections with our loved ones.

Additionally, money cannot buy good health. It may be able to provide access to healthcare facilities and treatments, but it cannot guarantee a healthy mind and body. In fact, people who prioritize money over their health often neglect self-care and face various health issues in the long run. Therefore, it is important to maintain a balance between work and personal life and prioritize self-care. After all, without good health, money becomes meaningless.

In conclusion, money is certainly important in life, but it should not be the sole focus. True happiness and fulfillment come from within and cannot be bought with money. We should prioritize building meaningful relationships, pursuing our passions and taking care of our health over constantly chasing after more wealth. As the saying goes, “money can’t buy everything,” and we must remember that in order to live a truly fulfilling life.

Argumentative Essay on Money:

The topic of money and its role in our lives is a highly debated one. Some argue that money is the root of all evil, while others view it as a means to achieve success and happiness. The truth lies somewhere in between. Money is a necessary aspect of our lives, but it should not be the sole focus or measure of our success.

On one hand, money can provide us with material comforts and opportunities. It allows us to have a decent standard of living, access to education and healthcare, and the ability to pursue our passions. Without money, we would struggle to meet our basic needs and live a fulfilling life. In this sense, money can bring us happiness and satisfaction.

However, the pursuit of money can also have negative consequences. It can consume our lives and lead to greed, materialism, and a constant desire for more. Many people become trapped in a cycle of work and earning just to keep up with societal expectations or to maintain their status.

This relentless pursuit of wealth can lead to neglecting other important aspects of life such as relationships, personal growth, and mental well-being. In this sense, money can become a source of stress and unhappiness.

Moreover, the unequal distribution of wealth in society adds to the complexity of the issue. While some individuals have an abundance of money and resources, others struggle to make ends meet.

This creates a divide between the haves and have-nots, leading to feelings of resentment and inequality. Money can also be used as a tool for power and control, further fueling societal issues such as corruption and exploitation.

In conclusion, money is an important aspect of our lives, but it should not be the sole determinant of our success or happiness. We must strike a balance and prioritize what truly matters to us beyond material possessions. It is crucial to find a healthy relationship with money and use it wisely for our well-being and that of others. Ultimately, true success lies in achieving a fulfilling life rather than accumulating wealth.

Write a high school Essay on Money:

Money is a crucial topic for high school students, especially as they approach adulthood. It plays a significant role in shaping their future and achieving their goals. Money management skills are essential for students to learn at an early age. It helps them understand the value of money, how to earn it, save it and spend it wisely. In this essay, we will discuss the importance of money for high school students and how they can learn to manage it effectively.

Firstly, understanding the value of money is crucial for high school students. Most teenagers have a limited understanding of where money comes from and how hard their parents work to earn it. It’s essential to teach them about earning an income, whether through part-time jobs or chores at home.

This not only helps them appreciate the value of money but also instills a strong work ethic in them. It also teaches them to be responsible for their own finances and not rely solely on their parents.

Secondly, high school students need to learn how to save money. Many teenagers have the tendency to spend impulsively, especially with peer pressure and societal influences. It’s important to teach them the concept of budgeting and saving for future goals such as college or a car.

This will help them develop financial discipline and avoid getting into debt later in life. They can also start small by setting aside a portion of their allowance or earnings each month. This will teach them the value of delayed gratification and long-term planning.

Lastly, high school students should learn how to spend money wisely. With access to credit cards and online shopping, it’s easy for teenagers to overspend and fall into debt. Educating them on the importance of budgeting and differentiating between needs and wants is crucial in making informed financial decisions.

They can also be taught about investment options such as mutual funds or stocks, which can help their money grow over time. This will give them a head start in building their financial future.

In conclusion, money is an important aspect of a high school student’s life and learning how to manage it effectively is crucial for their future success. By teaching them the value of money, saving skills, and wise spending habits at an early age, we can help them become financially responsible adults. It’s never too early to start teaching teenagers about money management as it sets them up for a stable and secure financial future.

Advantages of Money Essay:

Money is something that has been a part of human society for centuries, and it plays a crucial role in our daily lives. In simple terms, money is any object or record that is generally accepted as payment for goods and services and repayment of debts. It can come in various forms such as paper notes, coins, or even digital transactions. In this short essay, we will discuss the advantages of money and why it is such an essential aspect of our society.

First and foremost, money provides a means for people to exchange goods and services. In earlier times, barter system was used for trade where people exchanged goods or services directly with one another.

However, this system had its limitations as it required a double coincidence of wants. With the introduction of money, individuals could now sell their products or services for money and then use that money to purchase other goods or services they needed.

This made trading much more efficient and convenient. Moreover, money also serves as a unit of account, making it easier for people to compare the value of different goods or services.

Money also allows individuals to save and accumulate wealth. With the use of money, people can store their excess income and use it later for future needs such as emergencies or retirement. This provides a sense of security and stability in one’s life.

Additionally, with the help of financial institutions like banks, individuals can invest their money in various sources to earn interest over time and increase their wealth. This creates opportunities for people to improve their financial status and achieve their goals.

Furthermore, money also enables governments to operate and provide essential services to its citizens. Taxes collected from individuals and businesses make up a significant portion of a government’s revenue, which is used for various purposes such as building infrastructure, providing education and healthcare facilities, and maintaining law and order. Without money, it would be challenging for governments to function effectively, leading to a breakdown of society.

In conclusion, money has numerous benefits in our society. It facilitates trade and exchange, allows people to save and invest, and enables governments to operate efficiently for the betterment of its citizens. However, it is crucial to use money responsibly and ensure that it does not become the sole focus of our lives

Essay on Save Money is a Good Habit:

Saving money is an important habit that everyone should develop. It refers to the process of setting aside a portion of your income for future use, rather than spending it all at once. This practice not only helps in meeting unforeseen expenses but also ensures financial stability and security. In this essay, we will discuss why saving money is a good habit and how it can benefit individuals in the long run.

One of the primary reasons for saving money is to prepare for unexpected events. Emergencies such as medical emergencies, job loss, or natural disasters can occur at any time, and having saved money can help in dealing with them without causing financial strain.

Additionally, saving money also helps in achieving financial goals and fulfilling dreams such as buying a house or going on a dream vacation. It provides a sense of security and peace of mind, knowing that there is a safety net in times of need.

Moreover, saving money can also lead to financial stability. By building a habit of saving regularly, individuals can create a cushion for themselves during tough economic times. This habit can help in avoiding debts and living within one’s means. Furthermore, it can also provide the freedom to take career risks or pursue new opportunities without worrying about financial consequences.

In the long run, saving money can also bring financial freedom and independence. By consistently saving a portion of their income, individuals can build a nest egg that can generate passive income in the future. This provides stability during retirement or even allows for early retirement. Additionally, it can also help in achieving long-term financial goals such as starting a business or investing in assets.

In conclusion, saving money is a good habit that can bring numerous benefits to individuals. It not only helps in preparing for unexpected events but also leads to financial stability and independence. Therefore, it is essential to develop this habit from an early age and make it a part of our daily lives.

As the saying goes, “a penny saved is a penny earned,” and by following this principle, we can secure a better future for ourselves and our loved ones. So let us all start saving today! # Keep Saving! Start Saving now!

Essay on Money and Credit:

Money and credit are two fundamental concepts that play a crucial role in our daily lives. Money is a medium of exchange that enables us to buy goods and services, while credit allows us to access funds without having to pay the full amount upfront. In this essay, we will discuss the relationship between money and credit and their importance in our economy.

Money is a universal currency that facilitates trade and commerce. It comes in various forms such as coins, paper notes, and digital currency. Without money, the barter system would still be prevalent where goods were exchanged directly for other goods.

However, this system was inefficient as it required a coincidence of wants between two parties. Money eliminates this problem by providing a common medium of exchange accepted by everyone.

On the other hand, credit is an essential aspect of modern economies as it allows individuals and businesses to access funds for various purposes. It can be in the form of loans, mortgages, or credit cards. Credit enables people to invest in their future by purchasing a house or starting a business without having to save up all the money beforehand. It also provides short-term financing options for emergency situations or unexpected expenses.

Money and credit are closely intertwined as the availability of credit depends on the amount of money in circulation. When there is more money available, interest rates tend to be lower, making it easier for individuals and businesses to access credit. Similarly, a lack of confidence in the economy or a shortage of money can lead to higher interest rates, making it more challenging to get credit.

In conclusion, money and credit are crucial components of our economy. They enable transactions to take place smoothly and provide opportunities for individuals and businesses to invest in their future. It is essential to understand the relationship between money and credit to make informed financial decisions that can benefit us in the long run.

Money is undoubtedly an important part of life. But it is not the only thing. As these essays explain with clear facts and examples, meaning, importance or power of money in life. These essays are written in simple English for high school and college level students to assist them in their exams.

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Without money and without happiness u can’t live both are very important for a healthy life❤👑

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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.

You can read more Essay Writing about articles, events, people, sports, technology many more.

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

Essay on Money

Money is a significant part of human civilisation. It is difficult to think about the world without money. Everybody needs money for various purposes, starting from day-to-day transactions to savings for the future. But if we go back to history, we will find that before money came into existence, there was a barter system to facilitate transactions among individuals in society. With the development of civilisation over time, the barter system lost its ground and was replaced by money. This essay on money will provide ideas to students so they can effectively write essays on this topic. They can also check out the list of CBSE Essays to practise more essays on different topics and boost their writing skills.

500+ Words Essay on Money

Money is any object or record that is generally accepted as payment for goods and services and repayment of debts which also acts as a standard of deferred payments. The main functions of money are distinguished as: a medium of exchange, a unit of account and a store of value. The money supply of a country consists of currency (banknotes and coins) and bank money. Bank money usually forms the largest part of the money supply.

With the help of money, we can fulfil our dream. We can go on trips to various places, eat tasty food, buy a beautiful house and can buy any luxury items. Many businessmen earn a lot of money by making profits from their businesses. They provide services or make products that people need and make money from them. Now, there are many industries and startups which have set up their business and gained success. But still, there are many people who use illegal modes to earn money and become a part of corruption.

Significance of Money in Economy

Money plays an important role in shaping the economy of any country. Money can stimulate or even hamper economic progress. Money affects the income, output, employment, consumption and economic welfare of the community at large. Money through its purchasing power increases consumption and, as a store of value, increases investment, and employment and leads to economic development.

Demonetisation in India

The Prime Minister of India, Narendra Modi, announced demonetisation on 8th November 2016, where Rs 500 and Rs 1000 notes were withdrawn from circulation. It was a major event of the year 2016. The demonetisation decision was taken by the Government in consultation with the RBI. The action was taken to tackle Black Money which is available in various forms like cash, investment in property and real estate, luxury goods like jewellery or with foreign currency dealers and private financiers. The target was to curb the use of black money.

The other motto of demonetisation was to reduce corruption. With demonetisation, the cash in the hands of corrupt people becomes useless, and if the same is deposited in the banks, it loses anonymity, and the person has to pay taxes on the said amount.

The demonetisation also helped in promoting digitalisation through online transactions. A large section of the Indian economy was being run on the cash system, which does not get captured by the tax department as it does not leave any trail. So, the Government thought about promoting digitisation and formalisation of the economy through online transactions, e-wallets, and various payment instruments like Paytm, Rupay cards, the BHIM app etc. The beauty of these instruments is that the entire economic activity gets captured. It reduces tax evasion and improves tax collection.

Students must have found this essay on money useful for improving their essay-writing skills. They can get the study material and the latest updates on CBSE/ICSE/State Board/Competitive Exams, at BYJU’S.

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Essay on Importance of Money

Students are often asked to write an essay on Importance of Money 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 Importance of Money

Introduction.

Money is a crucial part of our lives. It is the medium used for exchange of goods and services, and it helps us meet our basic needs.

Significance in Daily Life

Money allows us to acquire food, shelter, and clothing. Without money, survival would be difficult.

Role in Society

Money also plays a societal role. It helps us contribute to community development through taxes.

While money is important, it’s not everything. It’s a tool for survival and contribution, but happiness and fulfillment also require love, health, and peace.

Also check:

Speech on Importance of Money

250 Words Essay on Importance of Money

The significance of money.

Money, a medium of exchange, is a fundamental component of modern society. It is a tool that allows us to acquire goods, services, and experiences, thus playing a vital role in our lives.

Money as a Means of Exchange

Money simplifies trade, replacing the need for a direct barter system. It provides a standardized measure of value, enabling us to understand the worth of various commodities. This standardization facilitates smooth economic transactions and promotes economic efficiency.

Money and Freedom

Money also provides a certain level of freedom. It allows individuals to make choices about their lifestyle, from basic necessities to luxury items. It grants us the liberty to explore different opportunities, be it travel, education, or investment.

Money and Social Status

In many societies, money is often equated with power and status. While this perspective can lead to materialism and inequality, it also motivates individuals to strive for financial stability, fostering innovation and economic growth.

Money as a Tool, Not a Goal

However, it is crucial to remember that money is a means to an end, not an end in itself. The pursuit of money should not overshadow the importance of relationships, health, and personal fulfillment.

In conclusion, money holds significant importance in our lives. It is the cornerstone of economic activity, a catalyst for personal freedom, and a symbol of status. However, its value lies in its ability to enable us to achieve our goals, not in its mere accumulation.

500 Words Essay on Importance of Money

Money, often seen as a simple medium of exchange, plays a pivotal role in modern society. Its importance transcends mere transactions, permeating every aspect of our lives – from the economy to social structures, personal relationships, and even our sense of self-worth.

The Economic Imperative

At its most basic level, money is the lifeblood of any economy. It facilitates trade, allowing for the efficient exchange of goods and services. Without money, barter would be the only alternative – a system fraught with inefficiencies and limitations. Money, therefore, enables economic growth by allowing for specialization and the division of labor.

Money as a Social Construct

Beyond its economic function, money also plays a crucial role in society. It is a social construct that shapes and is shaped by our societal norms and values. Money can affect social dynamics, influencing relationships and power structures. It can serve as a tool for social mobility or conversely, a means of maintaining social stratification.

The Psychological Dimension

Money also has a profound psychological impact. It can influence our behavior, our motivations, and even our sense of self. Money can provide a sense of security and freedom, but it can also lead to stress and anxiety. The desire for money can motivate us to work harder and strive for success, but it can also lead to greed and materialism.

Money and Happiness

The relationship between money and happiness is a complex one. While money can provide for our basic needs and desires, research suggests that beyond a certain point, additional wealth does not lead to additional happiness. This suggests that while money is important, it is not the be-all and end-all of life.

In conclusion, the importance of money cannot be understated. It is a crucial component of our economy, a significant social construct, and a powerful psychological influence. However, it is also important to remember that money is a means to an end, not an end in itself. The pursuit of money should not overshadow the pursuit of happiness, fulfillment, and meaningful relationships. As society continues to evolve, so too will our understanding and use of money, necessitating an ongoing exploration of its role and importance in our lives.

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

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

Essay on Happiness Is More Important Than Money
Essay on Expensive Weddings Are a Waste of Money
Essay on Pocket Money Advantages and Disadvantages

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Home — Essay Samples — Economics — Money — Saving Money: Approaches and Importance

Saving Money: Approaches and Importance

Categories: Money

About this sample

Words: 714 |

Published: Sep 5, 2023

Words: 714 | Pages: 2 | 4 min read

1. approaches to saving money, 2. the importance of saving money, 3. balancing saving and spending, 4. cultivating a savings mindset, conclusion: a secure and fulfilling future.

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24.1 What Is Money?

Learning objectives.

Define money and discuss its three basic functions.
Distinguish between commodity money and fiat money, giving examples of each.
Define what is meant by the money supply and tell what is included in the Federal Reserve System’s two definitions of it (M1 and M2).

If cigarettes and mackerel can be used as money, then just what is money? Money is anything that serves as a medium of exchange. A medium of exchange is anything that is widely accepted as a means of payment. In Romania under Communist Party rule in the 1980s, for example, Kent cigarettes served as a medium of exchange; the fact that they could be exchanged for other goods and services made them money.

Money, ultimately, is defined by people and what they do. When people use something as a medium of exchange, it becomes money. If people were to begin accepting basketballs as payment for most goods and services, basketballs would be money. We will learn in this chapter that changes in the way people use money have created new types of money and changed the way money is measured in recent decades.

The Functions of Money

Money serves three basic functions. By definition, it is a medium of exchange. It also serves as a unit of account and as a store of value—as the “mack” did in Lompoc.

A Medium of Exchange

The exchange of goods and services in markets is among the most universal activities of human life. To facilitate these exchanges, people settle on something that will serve as a medium of exchange—they select something to be money.

We can understand the significance of a medium of exchange by considering its absence. Barter occurs when goods are exchanged directly for other goods. Because no one item serves as a medium of exchange in a barter economy, potential buyers must find things that individual sellers will accept. A buyer might find a seller who will trade a pair of shoes for two chickens. Another seller might be willing to provide a haircut in exchange for a garden hose. Suppose you were visiting a grocery store in a barter economy. You would need to load up a truckful of items the grocer might accept in exchange for groceries. That would be an uncertain affair; you could not know when you headed for the store which items the grocer might agree to trade. Indeed, the complexity—and cost—of a visit to a grocery store in a barter economy would be so great that there probably would not be any grocery stores! A moment’s contemplation of the difficulty of life in a barter economy will demonstrate why human societies invariably select something—sometimes more than one thing—to serve as a medium of exchange, just as prisoners in federal penitentiaries accepted mackerel.

A Unit of Account

Ask someone in the United States what he or she paid for something, and that person will respond by quoting a price stated in dollars: “I paid $75 for this radio,” or “I paid $15 for this pizza.” People do not say, “I paid five pizzas for this radio.” That statement might, of course, be literally true in the sense of the opportunity cost of the transaction, but we do not report prices that way for two reasons. One is that people do not arrive at places like Radio Shack with five pizzas and expect to purchase a radio. The other is that the information would not be very useful. Other people may not think of values in pizza terms, so they might not know what we meant. Instead, we report the value of things in terms of money.

Money serves as a unit of account , which is a consistent means of measuring the value of things. We use money in this fashion because it is also a medium of exchange. When we report the value of a good or service in units of money, we are reporting what another person is likely to have to pay to obtain that good or service.

A Store of Value

The third function of money is to serve as a store of value , that is, an item that holds value over time. Consider a $20 bill that you accidentally left in a coat pocket a year ago. When you find it, you will be pleased. That is because you know the bill still has value. Value has, in effect, been “stored” in that little piece of paper.

Money, of course, is not the only thing that stores value. Houses, office buildings, land, works of art, and many other commodities serve as a means of storing wealth and value. Money differs from these other stores of value by being readily exchangeable for other commodities. Its role as a medium of exchange makes it a convenient store of value.

Because money acts as a store of value, it can be used as a standard for future payments. When you borrow money, for example, you typically sign a contract pledging to make a series of future payments to settle the debt. These payments will be made using money, because money acts as a store of value.

Money is not a risk-free store of value, however. We saw in the chapter that introduced the concept of inflation that inflation reduces the value of money. In periods of rapid inflation, people may not want to rely on money as a store of value, and they may turn to commodities such as land or gold instead.

Types of Money

Although money can take an extraordinary variety of forms, there are really only two types of money: money that has intrinsic value and money that does not have intrinsic value.

Commodity money is money that has value apart from its use as money. Mackerel in federal prisons is an example of commodity money. Mackerel could be used to buy services from other prisoners; they could also be eaten.

Gold and silver are the most widely used forms of commodity money. Gold and silver can be used as jewelry and for some industrial and medicinal purposes, so they have value apart from their use as money. The first known use of gold and silver coins was in the Greek city-state of Lydia in the beginning of the seventh century B.C. The coins were fashioned from electrum, a natural mixture of gold and silver.

One disadvantage of commodity money is that its quantity can fluctuate erratically. Gold, for example, was one form of money in the United States in the 19th century. Gold discoveries in California and later in Alaska sent the quantity of money soaring. Some of this nation’s worst bouts of inflation were set off by increases in the quantity of gold in circulation during the 19th century. A much greater problem exists with commodity money that can be produced. In the southern part of colonial America, for example, tobacco served as money. There was a continuing problem of farmers increasing the quantity of money by growing more tobacco. The problem was sufficiently serious that vigilante squads were organized. They roamed the countryside burning tobacco fields in an effort to keep the quantity of tobacco, hence money, under control. (Remarkably, these squads sought to control the money supply by burning tobacco grown by other farmers.)

Another problem is that commodity money may vary in quality. Given that variability, there is a tendency for lower-quality commodities to drive higher-quality commodities out of circulation. Horses, for example, served as money in colonial New England. It was common for loan obligations to be stated in terms of a quantity of horses to be paid back. Given such obligations, there was a tendency to use lower-quality horses to pay back debts; higher-quality horses were kept out of circulation for other uses. Laws were passed forbidding the use of lame horses in the payment of debts. This is an example of Gresham’s law: the tendency for a lower-quality commodity (bad money) to drive a higher-quality commodity (good money) out of circulation. Unless a means can be found to control the quality of commodity money, the tendency for that quality to decline can threaten its acceptability as a medium of exchange.

But something need not have intrinsic value to serve as money. Fiat money is money that some authority, generally a government, has ordered to be accepted as a medium of exchange. The currency —paper money and coins—used in the United States today is fiat money; it has no value other than its use as money. You will notice that statement printed on each bill: “This note is legal tender for all debts, public and private.”

Checkable deposits , which are balances in checking accounts, and traveler’s checks are other forms of money that have no intrinsic value. They can be converted to currency, but generally they are not; they simply serve as a medium of exchange. If you want to buy something, you can often pay with a check or a debit card. A check is a written order to a bank to transfer ownership of a checkable deposit. A debit card is the electronic equivalent of a check. Suppose, for example, that you have $100 in your checking account and you write a check to your campus bookstore for $30 or instruct the clerk to swipe your debit card and “charge” it $30. In either case, $30 will be transferred from your checking account to the bookstore’s checking account. Notice that it is the checkable deposit, not the check or debit card, that is money . The check or debit card just tells a bank to transfer money, in this case checkable deposits, from one account to another.

What makes something money is really found in its acceptability, not in whether or not it has intrinsic value or whether or not a government has declared it as such. For example, fiat money tends to be accepted so long as too much of it is not printed too quickly. When that happens, as it did in Russia in the 1990s, people tend to look for other items to serve as money. In the case of Russia, the U.S. dollar became a popular form of money, even though the Russian government still declared the ruble to be its fiat money.

The term money , as used by economists and throughout this book, has the very specific definition given in the text. People can hold assets in a variety of forms, from works of art to stock certificates to currency or checking account balances. Even though individuals may be very wealthy, only when they are holding their assets in a form that serves as a medium of exchange do they, according to the precise meaning of the term, have “money.” To qualify as “money,” something must be widely accepted as a medium of exchange.

Measuring Money

The total quantity of money in the economy at any one time is called the money supply . Economists measure the money supply because it affects economic activity. What should be included in the money supply? We want to include as part of the money supply those things that serve as media of exchange. However, the items that provide this function have varied over time.

Before 1980, the basic money supply was measured as the sum of currency in circulation, traveler’s checks, and checkable deposits. Currency serves the medium-of-exchange function very nicely but denies people any interest earnings. (Checking accounts did not earn interest before 1980.)

Over the last few decades, especially as a result of high interest rates and high inflation in the late 1970s, people sought and found ways of holding their financial assets in ways that earn interest and that can easily be converted to money. For example, it is now possible to transfer money from your savings account to your checking account using an automated teller machine (ATM), and then to withdraw cash from your checking account. Thus, many types of savings accounts are easily converted into currency.

Economists refer to the ease with which an asset can be converted into currency as the asset’s liquidity . Currency itself is perfectly liquid; you can always change two $5 bills for a $10 bill. Checkable deposits are almost perfectly liquid; you can easily cash a check or visit an ATM. An office building, however, is highly illiquid. It can be converted to money only by selling it, a time-consuming and costly process.

As financial assets other than checkable deposits have become more liquid, economists have had to develop broader measures of money that would correspond to economic activity. In the United States, the final arbiter of what is and what is not measured as money is the Federal Reserve System. Because it is difficult to determine what (and what not) to measure as money, the Fed reports several different measures of money, including M1 and M2.

M1 is the narrowest of the Fed’s money supply definitions. It includes currency in circulation, checkable deposits, and traveler’s checks. M2 is a broader measure of the money supply than M1. It includes M1 and other deposits such as small savings accounts (less than $100,000), as well as accounts such as money market mutual funds (MMMFs) that place limits on the number or the amounts of the checks that can be written in a certain period.

M2 is sometimes called the broadly defined money supply, while M1 is the narrowly defined money supply. The assets in M1 may be regarded as perfectly liquid; the assets in M2 are highly liquid, but somewhat less liquid than the assets in M1. Even broader measures of the money supply include large time-deposits, money market mutual funds held by institutions, and other assets that are somewhat less liquid than those in M2. Figure 24.1 “The Two Ms: October 2010” shows the composition of M1 and M2 in October 2010.

Figure 24.1 The Two Ms: October 2010

The Two Ms; October 2010. M1, the narrowest definition of the money supply, includes assets that are perfectly liquid. M2 provides a broader measure of the money supply and includes somewhat less liquid assets. Amounts represent money supply data in billions of dollars for October 2010, seasonally adjusted.

M1, the narrowest definition of the money supply, includes assets that are perfectly liquid. M2 provides a broader measure of the money supply and includes somewhat less liquid assets. Amounts represent money supply data in billions of dollars for October 2010, seasonally adjusted.

Source : Federal Reserve Statistical Release H.6, Tables 3 and 4 (December 2, 2010). Amounts are in billions of dollars for October 2010, seasonally adjusted.

Credit cards are not money. A credit card identifies you as a person who has a special arrangement with the card issuer in which the issuer will lend you money and transfer the proceeds to another party whenever you want. Thus, if you present a MasterCard to a jeweler as payment for a $500 ring, the firm that issued you the card will lend you the $500 and send that money, less a service charge, to the jeweler. You, of course, will be required to repay the loan later. But a card that says you have such a relationship is not money, just as your debit card is not money.

With all the operational definitions of money available, which one should we use? Economists generally answer that question by asking another: Which measure of money is most closely related to real GDP and the price level? As that changes, so must the definition of money.

In 1980, the Fed decided that changes in the ways people were managing their money made M1 useless for policy choices. Indeed, the Fed now pays little attention to M2 either. It has largely given up tracking a particular measure of the money supply. The choice of what to measure as money remains the subject of continuing research and considerable debate.

Key Takeaways

Money is anything that serves as a medium of exchange. Other functions of money are to serve as a unit of account and as a store of value.
Money may or may not have intrinsic value. Commodity money has intrinsic value because it has other uses besides being a medium of exchange. Fiat money serves only as a medium of exchange, because its use as such is authorized by the government; it has no intrinsic value.
The Fed reports several different measures of money, including M1 and M2.

Which of the following are money in the United States today and which are not? Explain your reasoning in terms of the functions of money.

A Van Gogh painting

Case in Point: Fiat-less Money

Figure 24.2

Michael Mandiberg – 1 million iraqi dinar – CC BY-SA 2.0.

“We don’t have a currency of our own,” proclaimed Nerchivan Barzani, the Kurdish regional government’s prime minister in a news interview in 2003. But, even without official recognition by the government, the so-called “Swiss” dinar certainly seemed to function as a fiat money. Here is how the Kurdish area of northern Iraq, during the period between the Gulf War in 1991 and the fall of Saddam Hussein in 2003, came to have its own currency, despite the pronouncement of its prime minister to the contrary.

After the Gulf War, the northern, mostly Kurdish area of Iraq was separated from the rest of Iraq though the enforcement of the no-fly-zone. Because of United Nations sanctions that barred the Saddam Hussein regime in the south from continuing to import currency from Switzerland, the central bank of Iraq announced it would replace the “Swiss” dinars, so named because they had been printed in Switzerland, with locally printed currency, which became known as “Saddam” dinars. Iraqi citizens in southern Iraq were given three weeks to exchange their old dinars for the new ones. In the northern part of Iraq, citizens could not exchange their notes and so they simply continued to use the old ones.

And so it was that the “Swiss” dinar for a period of about 10 years, even without government backing or any law establishing it as legal tender, served as northern Iraq’s fiat money. Economists use the word “ fiat ,” which in Latin means “let it be done,” to describe money that has no intrinsic value. Such forms of money usually get their value because a government or authority has declared them to be legal tender, but, as this story shows, it does not really require much “fiat” for a convenient, in-and-of-itself worthless, medium of exchange to evolve.

What happened to both the “Swiss” and “Saddam” dinars? After the Coalition Provisional Authority (CPA) assumed control of all of Iraq, Paul Bremer, then head of the CPA, announced that a new Iraqi dinar would be exchanged for both of the existing currencies over a three-month period ending in January 2004 at a rate that implied that one “Swiss” dinar was valued at 150 “Saddam” dinars. Because Saddam Hussein’s regime had printed many more “Saddam” dinars over the 10-year period, while no “Swiss” dinars had been printed, and because the cheap printing of the “Saddam” dinars made them easy to counterfeit, over the decade the “Swiss” dinars became relatively more valuable and the exchange rate that Bremer offered about equalized the purchasing power of the two currencies. For example, it took about 133 times as many “Saddam” dinars as “Swiss” dinars to buy a man’s suit in Iraq at the time. The new notes, sometimes called “Bremer” dinars, were printed in Britain and elsewhere and flown into Iraq on 22 flights using Boeing 747s and other large aircraft. In both the northern and southern parts of Iraq, citizens turned in their old dinars for the new ones, suggesting at least more confidence at that moment in the “Bremer” dinar than in either the “Saddam” or “Swiss” dinars.

Sources : Mervyn A. King, “The Institutions of Monetary Policy” (lecture, American Economics Association Annual Meeting, San Diego, January 4, 2004), available at http://www.bankofengland.co.uk/speeches/speech208.pdf . Hal R. Varian, “Paper Currency Can Have Value without Government Backing, but Such Backing Adds Substantially to Its Value,” New York Times , January 15, 2004, p. C2.

Answer to Try It! Problem

Gold is not money because it is not used as a medium of exchange. In addition, it does not serve as a unit of account. It may, however, serve as a store of value.
A Van Gogh painting is not money. It serves as a store of value. It is highly illiquid but could eventually be converted to money. It is neither a medium of exchange nor a unit of account.
A dime is money and serves all three functions of money. It is, of course, perfectly liquid.

Money Essay

Money is the medium used by people to buy required goods and services. It is used as the source to fulfill basic needs and is also a source of comfort in life. 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 have their own importance and benefits. Nevertheless, money is a useful and necessary commodity to live contentedly disposing all your usual liabilities towards your family and loved ones.

Long and Short Essay on Money in English

We have provided some simply written essay on money to help your kids to do better in their essay writing competition.

These Money Essay are written in easy English so that student of any class can easily understand it and also reiterate it or write it down, whenever required.

We have divided following essays under long and short essay on money in English according to the need, to help your kids to do better in their school competitions.

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Time Is Money Essay

500 words essay on time is money.

Time is money means time is priceless and precious. We use it for earning money but what’s important to understand is that we cannot use the money to get our lost time back. Thus, it makes time more precious than money or any other thing in the world. Through time is money essay, we will go through its importance and the reason behind it.

Importance of Time

Even though the importance of time differs for everyone, it is nonetheless important. Once we grow up, our childhood never comes back. Similarly, a student always tries their best all through the year for getting good grades.

Similarly, people make use of their precious time for different purposes to do their best to fulfil their wishes. It is because we are aware that time will not wait for anyone. We all get to live our life once.

Thus, it is up to us as to how we will use it. We can spend it by gaining a lot of achievement or we can spoil it by wasting the precious time given to us. Intelligent people strive to make the most of their time but living each moment to the fullest. Thus, we must all strive for the same thing.

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More Valuable than Money

It is clear by now that time is more valuable than money. Millions of people believe in this and it remains a fact. It is because once you lose time, you will never get it back, not even a second of it.

Time can be used to make money but money cannot be used to make more time. Thus, all the money in the world does not matter if you do not have enough time. Do you know the difference between successful people and failures?

We all get 24 hours in a day, no matter where we come from or how much money we have. It is not using all 24 hours that matters; it is how we use those hours. A successful person will always use their time efficiently to make progress in life.

Time is something we get and we have all the right to use it just like money. But, what’s different is that when we lose money, we can always get it back in one way or another. However, when we lose time, we can never get it back with any amount of money.

A patient in need of medical attention understands the value of time and that it is valuable than money . Similarly, an entrepreneur will take the fastest mode of travel to travel for a business deal to save time and seal and the deal. Thus, we see that time is indeed more important than money in life.

Conclusion of Time Is Money Essay

To sum it up, time is definitely more important than money. In fact, every one of use has experienced this truth or will do at some point in our lives. Thus, it is a proven fact that time is money so we must use it efficiently.

FAQ of Time Is Money Essay

Question 1: Why time is very important in our life?

Answer 1: Time is important because it helps us to make a good habit of organizing and structuring our daily activities. Moreover, it plays a major role in our lives. Similarly, time can also heal things whether external wounds or feelings.

Question 2: What figure of speech is time is money?

Answer 2: It is a metaphor. This popular metaphor compares time and money. It states that time is a valuable resource which we must all use efficiently in order to earn money and lead a comfortable life.

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Time Value of Money: Importance of Calculating Essay

Introduction, time value of money, importance of time value of money, reference list.

Due to fluctuations in economies, all organizations need to take into consideration concepts of the time value of money in any investment venture. Calculations of future outcomes from current investments play the central role in determining an organization’s sustainability in times of turbulent variations in economies. For example, the value of business units never remains stagnant, but they are in continuous change, hence necessitating organizations to adopt strategies, which will ensure economic sustainability of their businesses. Time value of money not only affects business finance, but also affects both government and user finances, who are the main stakeholders in an organization (Garrison, 2009, Par. 1).

Time value of money (TVM) is a monetary approximation, which gives worth to money at hand more value than future expectations of financial gains. It helps in weighing investment ventures, hence providing solutions to financial problems primarily resulting from mortgages, allowances, and savings. Finances held presently by an organization are more worth compared to expectations of future gains because the organizations can invest them, hence gain an organization profits in the future. The main principle of investment in TVM is; organizations can convert future expectations of monetary gain to an equal value “today.” Organizations can calculate future gains from an investment so long as any four of the following are available: current expenditures, present and expected future value, charged interest rate, and time span needed for an investment (Cedar spring software, 2002, Para 1-4).

In TVM, organizations obtain future value through compounding interest, which present investments will bring into an organization. As operational time changes, organizations should add obtained gains on investments to original invested capital, which an organization should use to calculate future times interests.

For organizations to avoid risks associated with poor investments, they should always consider both the incremental and total cash flows resulting from an investment. This involves analyzing the following components: previous outlays, scale value, expected cash flows from ventures, terminal value, and correct timing in organizing investment projects. All these should play a central in all decisions made by an organization to ensure viability of business ventures. In business, positive incremental cash flows play the central role of giving business directions, because it indicates sustainable business ventures (Adair, 2005, pp. 185-187).

For organizations to meet all business obligations for example loan repayments and payroll requirements, they must always keep correct records of their cash flow, for they will help to maintain the credibility of businesses to both investors and stakeholders. On the other hand, for organizations to calculate correctly time value of money, they have to consider initial investment cash, all operating cash flows, investment cash flow, financing cash flow, and end cash flow. This will guide correct decision-making in terms of business investments with minimum risks and maximum profits, within planned or approximated time.

In calculating TVM, net present values (NPV) help organizations to analyze profitability of projects whereby analysis of cash inflows and outflows helps in drafting correct project budgeting for organizations. The sensitivity of NPV helps organizations to calculate profits, which an organization can gain from an investment, hence enabling management and planning teams to take corrective actions in project investments. NPV takes into consideration both the inflations and outcomes of investment projects, whereby it applies the principle of investment depending on the outcome. In this regard, if management teams suspect a likelihood of occurrence of a negative NPV then, they should cancel or avoid such investment opportunities. This is because the probability of occurrence of negative cash flows from such an investment is high (Glink, 2009, p.1). In addition, to calculate NPV organizations need to consider the discount rate, which may result from future cash flows about present values. The majority of organizations prefer high discount rates as the main substitution for risky projects; this is sometimes necessary but, time consideration as dictates NPV is important because it helps in determining the yield curve. This helps to reflect the real scenario of a business venture, hence guide the decision-making process (Herrick, 2003, PP. 254-259).

Consideration of payback period is also important to calculate TVM of any investment. It helps in decision making in that, an organization can accurately determine the amount of time a specific venture will take before repaying invested money. At all times an organization needs to adopt business ventures with the shortest payback periods in order to lessen limitations that may result from investments. Although this method is good, it has many limitations, in that it lays less emphasis on time value of money. When using this approach in decision making organizations should take precautions by incorporating other methods such as the internal rate of return to ensure assumptions made are correct. Discounted payback period helps to account for all business flaws, which may occur by considering inflation and the amount of interest investment will give an organization. In addition, payback calculations are important because they can help managements to evaluate various business ventures hence, make correct investment choices, which will ensure the viability of an enterprise (Pisello, 2005, Par. 1-5).

In conclusion, it is very essential to correctly approximate the time value of money because it helps in giving clear outcomes of ventures an organization seeks to invest in. In addition, correct calculations can help an organization determine the amount of time it will take an organization to realize expected profits, hence take correct measures to avert associated risks.

Adair, T. A. (2005). Corporate finance demystified. Columbus: McGraw-Hill.

Cedar spring software. (2002). Time value of money. Get objects . Web.

Garrison, S. (2009). Time value of money. Study finance. Web.

Glink, I. (2009). Calculating the net present value (NPV) of a foreclosure vs. a loan modification. Money watch . Web.

Herrick, D. F. (2003). Media management in the age of giants: business dynamics of journalism. New Jersey: Wiley-black well.

Pisello, T. (2005). Why pay back periods are important. Sap tips . Web.

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A side by side image of Letitia James and Donald Trump

Seizing Trump’s New York properties will not be easy for Letitia James

Attorney general could face same problems as ex-president in trying to liquify assets to meet the $454m fine amount

T he face-off between Donald Trump and Letitia James , the New York attorney general, could reach a denouement as soon as Tuesday when James assumes the legal right to begin seizing the former US president’s assets in lieu of a $454m fine Trump says he can’t meet.

But anyone expecting Anthony Miranda, sheriff of the city of New York, to show up at Trump’s premiere property and home on 5th Avenue to cart off the faux-Louis XIV furniture, the golden cherubs, crystal chandeliers or chisel the 24-carat gold from the architraves and cornices, may be disappointed.

Collecting a financial judgment is a slow and arduous process, according to New York real estate attorneys, especially when the assets that could be seized to satisfy that judgment are properties withheld in a complex web of ownership and titles, subject to mortgages and co-ownership claims.

The same problem that Trump says he faces raising a bond against his properties is the same problem that James could find in liquefying his assets to satisfy the punishment brought in after she won a fraud trial against Trump’s real estate empire.

“Bonds people do not like to use property as collateral because it’s hard to liquify the asset if there’s a default,” said Adam Leitman Bailey, a real estate attorney, “and for the attorney general this isn’t so easy either. It’s going to be very difficult to seize his properties. It takes a lot of work.”

First off James’s office is likely to send out a letter of garnishment to every bank in New York and the US requiring them to freeze Trump’s bank accounts and to deliver the cash, bonds or possessions held in security deposit boxes to her office in New York.

Last week the New York attorney general’s office filed judgments in Westchester county, where Trump’s Seven Spring’s golf course and private estate is located, an indication that James is preparing to move on his real estate assets.

That comes as Trump awaits a decision from a New York appeals court on his application for a stay on the judgment. The court may deny it or decide to say nothing, leaving James free to act. Trump has said in his affidavit to the court that he doesn’t have $454m so the next step is to seize his cash and property.

“If he does not get a stay … I do not see a good solution for him,” says Mitchell Epner at Rottenberg Lipman Rich in New York. “James can go back to … court and seek an order requiring a property interest be handed over to her, and Trump would have very limited ability to resist that.”

James has said she looks out of her office window at 40 Wall Street, a 72-storey, neo-gothic tower built in 1929 before the economic crash and once owned by Ferdinand and Imelda Marcos, that Trump acquired the 99-year ground lease on in 1995 for $1m.

“We are prepared to make sure the judgment is paid to New Yorkers,” James told ABC News in a tone of barely concealed contempt after the February judgment. “And yes, I look at 40 Wall Street each and every day.”

But, Epner says, James would not send the sheriffs round to padlock the doors and lock the tenants out.

“The purpose of allowing a judgment creditor to take possession is not to harm innocent third parties, but to guarantee that payment is made. If the court were to order the building be turned over, then the question would then be how do we do this without causing unnecessary harm to the tenants.”

But New York is going through a commercial real estate crisis, and 40 Wall Street, despite being surrounded by high-end stores like Tiffany and Hermès is no exception.

In 2014, the mortgage lender Capital One valued it at $257m though Trump assessed it at $550m on his annual financial statement. About $120m is owed on a mortgage.

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View of ‘The Trump Building’ facade in New York

“Trump doesn’t own the property,” says Bailey. “They could sell the ground lease but the real estate market in commercial property is so down now it’s hard to know what it would go for, especially for assets that are inflated like Trump’s are.”

Moreover, there’s no certainty that the court’s $454 judgment will make it through the appeals process intact. Verdicts can be overturned on appeal, and the prosecution in the case used a legal statute rarely – if ever – used for this purpose.

Trump’s legal team have argued that if the attorney general sells off his property, and the judgment is overturned or the fine lessened, then irrevocable harm would have been done to his company.

Further, James has to hope that Trump hasn’t placed his properties in an irrevocable trust for his children in which he collects the interest but no longer has control. “The attorney cannot touch anything in an irrevocable trust,” said Bailey.

If it’s held in a limited liability company with other parties, and James attempts to seize and sell it, that would set off a series of lawsuits before there would be foreclosure. Even if successful, the bank holding any mortgage would take repayment priority over the state after an auction.

“Letitia James will be able to get the cash and the furniture but that won’t come anywhere near the judgment,” Bailey said. “James probably knows that she used an arcane statute not meant for this type of case, and knows the decision will get cut down on appeal. If she gets $100m that would be good news for her.”

But on Friday, the prospect of Trump coming through on the $454m judgment suddenly looked up. His Trump Media & Technology Group – the parent company of the Truth Social platform – completed a Spac merger with Digital World Acquisition Corporation, valuing his stake at about $3bn.

If shares in the company begin trading on Monday then they could theoretically be used as collateral on a bond that would keep James off his back while Arthur Engoron’s judgment is appealed. But that’s a long shot.

“If I was Donald Trump , I would be calling up every US billionaire I know to ask them to borrow the money,” said Bailey. “He needs a sugar daddy to come in right now and bail him out.”

Donald Trump
Letitia James

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