Have you ever sat to ask yourself some questions that seem mysterious such as, “Why is money important to society?” If yes, then rest assured you are on the right page to get the right answer.
Is Money Important To Society?
Yes. Money may though not buy everything, but we must understand how important it is to have it. Without money, bringing dreams to reality may be very difficult for society. As we get into the topic fully, we must all remember that individuals make up society, so whatever is directed to individuals should be related to a number of them, herein.
Why is Money Important To Society?
Below are some of the reasons why money is important to any society.
1. Improved quality of life
Money does not bring happiness, but it can afford you a whole lot of things that are missing in your life. Some typical illnesses may cause some people to beg internet users, sometimes Television viewers for financial assistance. Come to think of what would have happened if the people begging for money for perhaps operation, have theirs for the full treatment.
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Recall that some of those who need financial assistance for the better of their health may not get helped till they give up the ghost. Hence, if we can subscribe to the fact that money can help get most of the things that cause many to be unhappy, then it stands that the quality of life of a particular group of people who have come to make a society will be improved with it.
2. It is an easier method of exchange
The ease money has brought to the act of exchanging goods and services cannot be denied by anyone to be better than all other means of purchasing. Think and compare this with other forms of exchange to get a clearer view of how money has made the transaction easier. Money is now important in society because it makes exchange between buyers and sellers very easy. You simply give out the currency legalized in your region and purchase items of your choice.
Okay, let’s come to imagine the internet as a place full of all it has, without money as a means of reward after working. Not only will trade by barter not be effective in this case but it also cannot be used. Therefore, all other methods of exchanging would be very much slow and ineffective without the coming about of money.
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Moreso, one may face delays in seeking who to exchange goods with (using trade by barter) thereby resulting in transaction problems. But with money, one can get anything purchasable, anywhere anytime.
3. Qualitative Education
How far can a person get educated without getting money involved in the journey? That is the first question we should consider here. Society (in general) needs money to sponsor ready individuals, to school. Whether you think education without money can be possible once a scholarship is obtained, you should remember a person or organization sponsored the scholarship program in the first place.
One of the things society owes the youths (and others below this age category) is a qualitative education, realizing that these are the future leaders. People can help society achieve this, singlehandedly if they are rich. In a nutshell, the whole thing here revolves around money being an important factor in enhancing qualitative education, which will in turn affect any given society positively.
4. Economic Growth
No society can be financially buoyant without money. The number of wealthy residents in any given geographical entity is (most likely) what will affect the economic standard. Sounding so self-defined is this part of the importance of money in society. Very little can be expected of a place where too many destitute individuals live.
On the other hand, any society surrounded by wealthy people will always appear advanced and economically improved. Hence, to ensure economic growth in a society, we must talk about the distribution of income (among the inhabitants).
5. The Flexibility of Money
The ease of carrying it about is another importance of money as obtained from sources on the internet. Gone are the days when people will have to drag a bag of rice (or whatever goods) to the market in exchange for a bicycle, for instance. And because of the form money takes, it has also been easier for us to use without touching it.
You can ask a friend for money and after getting the credit alert, go to the bank the next minute and withdraw your cash. Making product orders online as a practical example will require you to be patient, as your goods may be delivered in the next couple of weeks.
This advantage of money has indeed made it essential to everyone and society at large. With the flexibility of money, societies can now settle their bills within the blink of an eye. Paying for electricity power supply, security services, etc., has become very fast for every society due to the flexibility of money.
6. For a Peaceful Society
One reason money is important to every society is that not having it go around among its residents will increase the rate of crime since the chances of people finding it in illegal ways will be high; beyond control.
7. For the Advancement of a Society
More like a conclusion to everything that has been mentioned in the article, money is important to every society because it is one significant element of progression that no society can stand without. Everything previously stated in this article will in one way or the other, assist or add to the development and advancement of human society.
What is the overall reason why every society needs money?
All other things society needs for advancement may not occur effectively in the absence of money. Even though it cannot buy everything, as they say, money ‘can’ bring happiness when it is all that is missing in a person’s or group of persons’ lives.
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Why is money important to society? I hope having read through this piece, anyone should be able to answer this question. Relate it directly to yourself, and think of a large number of people who have come to stay together, having it.