Question

In: Economics

why people need money (500 word in essay )

why people need money (500 word in essay )

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Expert Solution

People say Money is not everything, because Money can not buy happiness. Well, that is correct, but we do need money to fulfill our needs and desires. Without Money, we can not even buy a cup of Tea.

Even though someones' needs are not materialistic, still he/she will need money in order to fulfill the basic needs that everyone has- Food, Shelter, and Clothes. So, yes the first use of money is to fulfill basic needs in life.

In this competitive world, education plays an important role in order to achieve success in life. Good education ensures a good job and a good quality of life. In order to obtain a good education, people need money.

"All work and no play makes Jack a dull boy". I am sure we must have heard this quote multiple times in our life. And this is very apt considering the monotonous lifestyle that we follow these days. So, in order to save ourselves from over-exerting and to relax our minds, we need to get involved in some recreational activities. Again, these activities will require money. So, another use of money is to keep the mind and body healthy.

In this fast world, everything is changing so quickly. Eating habits, environmental conditions, and lifestyle have been impacted a lot which results in us falling sick. Sometimes, it is for the short term and sometimes it can prove to be long term as well. So, in order to get proper treatment during such critical times, we need money.

A normal person has dreams and ambitions. Someone might want to buy a house, someone wants to get a sports car or someone wants to travel the world. One thing is common in all these dreams, which is that all these things require money to fulfill them.

As the world moves very fast, knowledge and skills can become outdated as well. So, in order to survive in this rat race, one needs to upskill himself/herself from time to time. This might include learning a new skill or a new language or maybe even learning a new online tool. All these will need resources like Books, Online Courses, Trainings, Internet, etc, which in turn will also need money.

One of the things that remain forever is memories. Therefore it is very important to create some good memories with our family members. There are special events in life like weddings, birthdays, anniversaries, first-child, etc and all these events deserve a celebration with close members of the family. These celebrations are normally at a grand level and they also require money.

So, there are plenty of reasons why people need money to have a happy and successful life. Hence, one should always value money but also keep in mind that he/she should not run after only money. Others things are equally important in life and must be given equal importance.


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