U Are Garden Business Importance Of Money

Importance Of Money

What is Money?

Materially, Money is everything. It’s the means of our survival. The basis of our standard of living and position in society.

Technically, money is a printed piece of paper. So why is it so important? Why do people tend to chase this piece of paper till the end of their lives? Read the article below to know why money is so important and why do you need the best money lender in toa payoh.

Importance Of Money:

The value of money can be understood with the help of the following point:

1.   Provides for basic necessities

Money provides us with the basic commodities necessary to survive like food, clothing and shelter. We don’t have to live life on survival mode or go on hunting or fight for shelter like the animals just because we can provide for these using our money. Thus, money is necessary for survival.

2.   Provides for wants or luxuries

Not only the basic necessities but money can even provide for the demands of such commodities which are not survival necessities but can raise the standard of living like cars, furniture, etc. Or you can also use money to pay for luxuries like branded clothes, art pieces, rare artifacts, etc if you can afford.

3.   Brings stability

A person earning a decent amount of money could have all his demands satisfied by using money to purchase the goods he wants. If he wishes for more, he can satisfy his wants by working more. Earlier, when the concept of money was not formed, people used to resort to violence sometimes to satisfy their wants.

4.   Position in society

Money is not only a medium of exchange but also a means to the financial position of a person in society. Not only an individual, the standing of a firm, a company, or even a nation is determined based on the wealth they hold. Even when calculating the GDP of a nation, income is used.

5.   Money is power

We all have heard this at least once in our lifetime that money is power. But, is it true? Well let me elaborate;

We all know Russia and the US ate powerful countries, ever wondered why? It’s all because of the huge money reserves they possess. The nations with the most money can get the best weapons and can also provide for their citizens. Due to the wealthy possessions of these nations, they afford to get the best military weapons and quality commodities for their citizens. Thus, it can be said that money is power.


The proverb that money cannot buy happiness is not fully correct; for money cannot directly buy happiness but can satisfy our various wants which will ultimately provide us with happiness. Money is not everything but is undoubtedly important for the survival as well as the social standing of a man.