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The Value of Money

The Value of Money

Money Is Everything

Money is very important, but people don’t understand why. They just know they use it to buy things. This is what I want to talk about. Not about building wealth but about why money is important.

Money Is Freedom

Money is a way to expedite barter and increase the speed of getting what you want essentially. If I want a PSP and you want an IPod, we can trade and get what we need. What if I want a PSP, but you want a Samsung? Now I have to find someone who has what you want, trade with them and make sure it’s right, and then trade with you.

This is called ht double coincidence of want. it makes barter much slower and inefficient. Money was created to circumvent this by having a universal system everyone uses. This is why money is good.

Unfortunately money has had many forms throughout time and now we have fiat currency. This is where the government basically can “decree” the value of it by setting interest rates and then devaluing the dollar. By doing this it makes the value lower and makes things harder to buy. Have you ever wondered why your grandparents always said things were cheaper in the “good old days”. That’s why.

Now that you understand what money is for, try to manage it the best you can. The government definitely doesn’t.

 

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