write an essay on money

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 .

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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.

Table of Contents

• 1 What is Money?
• 2 Why is Money So Important?
• 3 Essay on Money in 100 Words
• 4 Essay on Money in 250 Words

Also Read: Essay on Chandrayaan – 3

What is Money?

According to Wikipedia and Oxford Dictionary, Money is simply a medium of exchange. Some even consider money as one of the most important resources , which is used to make transactions of goods, services, or repayment of debts within a specific country or socio-economic context.

Money can have various forms, coins and banknotes in physical form, and electronic balances in bank accounts in digital forms. Money serves as a unit of account, facilitating the measurement of value in terms of prices, and as a store of value, allowing individuals to save purchasing power for future use.

Learn Why Financial Literacy is Important for Students.

Why is Money So Important?

What makes money such an important resource is its acceptance across the globe in multiple transactions and services. From serving as a medium of exchange to facilitating financial activities, the importance of money goes beyond our everyday needs. Here are several reasons stating the importance of money.

• Money serves as a convenient medium of exchange that facilitates the buying and selling of goods and services, making transactions more efficient than barter systems.
• It provides a standardized unit for measuring the value of goods, services, and assets, allowing for easier comparison and assessment of value across different items.
• Money enables individuals and businesses to store wealth and purchasing power over time, facilitating savings and investment for future needs and goals.
• A stable and reliable monetary system encourages investment, trade, and economic growth, fostering overall prosperity within an economy.
• By using money, individuals and businesses can avoid the high transaction costs associated with bartering and the inefficiencies of non-monetary exchange systems.
• The use of money encourages specialization in the production of goods and services, leading to increased productivity and efficiency within an economy.
• Money is essential for the functioning of financial markets, banking systems, and investment activities, which are crucial for the allocation of resources and capital within an economy.

Also Read: Essay on National Unity Day 

Essay on Money in 100 Words

El dinero or money is used as a medium of exchange, unit of account, and store of value. It facilitates trade, allowing for the smooth exchange of goods and services, while also enabling efficient allocation of resources and encouraging economic growth. As a unit of account, it provides a standardized measure of value, simplifying the comparison of different goods and assets. 

Moreover, money acts as a store of value, allowing individuals to save and plan for the future. Its role in reducing transaction costs, enabling specialization, and supporting complex financial activities highlights its significance in the functioning of contemporary economies.

Essay on Money in 250 Words

Modern economics is heavily dependent on money or we can say that money is the pillar of modern economies. As a medium of exchange, it simplifies trade by providing a universally accepted method of payment for goods and services, eliminating the inefficiencies and limitations of barter systems. Its characteristic fosters the development of complex market systems, encouraging specialization and the efficient allocation of resources.

Apart from being a medium of exchange, money functions as a unit of account, providing a standardized measure of value that enables individuals to compare prices and evaluate the worth of different goods and services. This uniformity in valuation streamlines commercial activities and allows for effective planning and decision-making in both personal and business contexts.

Money serves as a store of value, allowing individuals to save and accumulate wealth over time. This feature empowers people to prepare for future expenses, emergencies, or long-term goals, providing a sense of security and stability in an uncertain world.

In addition to its role in daily transactions , money fuels economic growth by facilitating investment, entrepreneurship, and innovation. Financial institutions utilize money as a tool to allocate capital efficiently, enabling the development of new businesses, industries, and technologies that contribute to overall economic prosperity.

Money plays multiple roles in our lives; it is a physical or digital representation of currency; it is a fundamental pillar of modern economies, underpinning the intricate web of commercial activities, financial systems, and societal well-being. Its importance lies not only in its tangible properties but also in the complex functions and structures it supports within the global economic framework.

Money is globally accepted as a medium of exchange in multiple transactions and services. From serving as a medium of exchange to facilitating financial activities, the importance of money goes beyond our everyday needs. To buy goods or services, you are required to pay a certain amount, which is fulfilled by paying money. 

To write an essay on money, you need to highlight the key aspects of this essential resource. The multiple transactions in which money is used in our day-to-day lives make money an important part of our lives. Give examples of how money can change our lives and what would happen if we were out of money. Highlight the latest trends in the financial sector and what governments are doing to save our money from inflation. 

Here are the 5 strongest currencies in the world: Kuwait Dinar (KWD), Bahraini Dinar (BHD), Omani Rial (OMR), Jordanian Dinar (JOD), and Gibraltar Pound (GIP).

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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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260 Money Topics to Write About & Essay Examples

Looking for a topic about money? Money won’t leave anyone indifferent! There are lots of money essay topics for students to explore.

🏆 Best Money Essay Examples & Ideas

👍 good money essay topics, 💡 easy money topics to write about, 📃 interesting topics about money, 📑 good research topics about money, 📌 most interesting money topics to write about, ❓ research questions about money.

You might want to focus on the issue of money management or elaborate on why money is so important nowadays. Other exciting topics for a money essay are the relation between money and love, the role of money in education, etc. Below you’ll find a list of money topics to write about! These ideas can also be used for discussions and presentations. Money essay examples are a nice bonus to inspire you even more!

• Can Money Buy You Happiness? First of all, given that happiness is related to the satisfaction of personal needs, there is also a need to consider the essential need of human life such as housing, medicine, and food.
• Connection Between Money and Happiness Critical analysis of money-happiness relationship shows that socioeconomic factors determine the happiness of an individual; therefore, it is quite unsatisfactory to attribute money as the only factor and determinant of happiness.
• Money, Happiness and Relationship Between Them The research conducted in the different countries during which people were asked how satisfied they were with their lives clearly indicated the existence of a non-linear relationship between the amount of money and the size […]
• Money as a Form of Motivation in the Work Place This then shows that money can and is used as a motivational factor in the work place so that employees can strive to give their best and their all at the end of the day.
• I Don’t Believe Money Can Buy Happiness This shows that as much as money is essential in acquisition and satisfaction of our needs, it does not guarantee our happiness by its own and other aspects of life have to be incorporated to […]
• Money: Good or Evil? Comparing & Contrasting While there are those amongst us who subscribe to the school of though that “money is the source of all evil”, others are of the opinion that money can buy you anything, literary.
• Discussion: Can Money Buy Happiness? Reason Two: Second, people are psychologically predisposed to wanting more than they have, so the richer people are, the less feasible it is to satisfy their demands.
• Why Money Is Important: Benefits & Downsides The notion originated from the Bible because the person who made Jesus suffer on the cross was enticed by the love of money to forsake Jesus.
• Does Money Buy Happiness? Billions of people in all parts of the world sacrifice their ambitions and subconscious tensions on the altar of profitability and higher incomes. Yet, the opportunity costs of pursuing more money can be extremely high.
• Money and Modern Life The rich and the powerful are at the top while the poor and helpless are at the bottom, the rest lie in-between.
• Anti-Money Laundering and Hawala System in Dubai To prevent money launders and agents, most countries enacted the anti-money laundering acts with the goal of tracking and prosecuting offenders.
• Two Attitudes Towards Money The over-dependence on money to satisfy one’s emotional needs is a negative perspective of money. The positive attitude of money is rarely practiced by people.
• Time Value of Money: Importance of Calculating Due to fluctuations in economies, all organizations need to take into consideration concepts of the time value of money in any investment venture.
• The Global Media Is All About Money and Profit Making It is noteworthy that the advertisement are presented through the media, which confirms the assertion that global media is all about money and profit making. The media firms control the information passed to the public […]
• Should America Keep Paper Money It is possible to begin the discussion of the need for keeping paper currency from referring to the rights of any people.
• Anti-Money Laundering in Al Ansari Exchange Case Study Details Company name: Al Ansari Exchange Headquarters: Dubai, United Arab Emirates Sector: Financial Services Number of employees: 2500 Annual gross revenue: UAED 440.
• Strategies to Save and Protect Money Thus, the main points of expenditure will be clearly marked, which will help to exclude the purchase of unnecessary goods and services.
• Why People Should Donate Time, Money, Energy to a Particular Organization, Charity, or Cause Its vision is to have a world that is free from Alzheimer’s disease.”The Alzheimer’s Association is the leading, global voluntary health organization in Alzheimer’s care and support, and the largest private, nonprofit funder of Alzheimer’s […]
• Giving Money to the Homeless: Is It Important? The question of whether a person should give money to a homeless person or not is a complicated one and cannot have the right answer.
• Anti Money Laundering and Financial Crime There are a number of requirements by the government on the AML procedures to be developed and adopted by the firms in the financial service in industry in an attempt to fight the illegal practice.
• Dreams of Avarice in Ferguson’s “The Ascent of Money” The chapter “Dreams of Avarice” of the book “The Ascent of Money” explores different stages of development of money functioning in the world by relating them to corresponding historical events.
• Where Does the Money Go? by Bittle & Johnson Therefore, the authors explain key issues of the national debt in a relatively simple language and provide their opinion on how the country got into that situation and what could be done about it. In […]
• Money and Its Value Throughout the World History What is important is the value that people place on whatever unit they refer to as amoney.’ Money acts as a medium of exchange and an element of measurement of the value of goods and […]
• Relation Between Money and Football In the English league, clubs have been spending millions to sign up a player in the hope that the player will turn the fortunes of the company for the good.
• Money Saving Methods for College Students A budget is one of the methods that a college student can use to save money. In the budget, one should indicate how much to save and the means of saving the money.
• Money and Banking: General Information The essay gives the definition of money and gives a brief description of the functions of money. As a store of value, money can be saved reliably and then retrieved in the future.
• Money From the Christian Perspective Work in Christian missions is a business and since it affects the relationship between the missionary and the people he is trying to reach, missionary funding is essential.
• The Lebanese-Canadian Bank’s Money Laundering The bank was later banned from using the dollar by the American treasury; this resulted in the collapse and eventual sale of the bank.L.C.B.had to pay a settlement fine of one hundred and two million […]
• Success and Money Correlation The development of the information technologies and the ongoing progress led to the reconsideration of the values and beliefs. It is significant to understand that there is no right or wrong answer for the question […]
• Money Laundering: Most Effective Combat Strategies The practice of money laundering affects the economy and security of a country. Countries have directed their efforts to curb money laundering to control the downwards projections of their countries’ economies.
• Opinion on the Importance of Money In the absence of money, individuals and organizations would be forced to conduct transactions through barter trade which is a relatively challenging system due to existence of double coincidence of wants.
• Edwin Arlington Robinson: Money and Happiness in “Richard Cory” It is evident that money cannot guarantee happiness in one’s life due to the uncertainties that surround each one of us.
• Time Value of Money: Choosing Bank for Deposit The value of the money is determined by the rate of return that the bank will offer. The future value of the two banks is $20,000 and $22,000 for bank A and bank B respectively.
• Prices Rise When the Government Prints too Much Money Makinen notes that an increase in the supply of money in an economy relative to the output in the economy could lead to inflationary pressure on prices of goods and services in the economy.
• Drugs: The Love of Money Is the Root of All Evils The political issues concerning the use of drugs consist of, but not limited to, the substances that are defined as drugs, the means of supplying and controlling their use, and how the society relates with […]
• Money, Happiness and Satisfaction With Life Nonetheless, the previously mentioned examples should be used to remind us that money alone is not a guarantee of happiness, satisfaction with life, and good health.
• Money: Evolution, Functions, and Characteristics It acts as medium of exchange where it is accepted by both buyers and sellers; the buyer gives money to the seller in exchange of commodities.
• Efforts to Raise Money for Charity However, the point is that charity is supposed to be for a simple act of giving and not expecting any returns from it.
• Park Avenue: Money, Power and the American Dream – Movie Analysis It can be taken as the national ethos of the citizens of the USA. The basis of the American society is broken and it is not united anymore.
• Electronic Money: Challenges and Solutions First of all, it should be pointed out that money is any type of phenomenon which is conventionally accepted as a universal carrier of value, or “any generally accepted means of payment which is allowed […]
• Money, Success, and Relation Between Them In particular, the modern generation attaches so much importance to money in the sense that success and money are presumed to be one and the same thing.
• Money and Work Performance When there is a deliberate effort by the workplace to reduce the incidence of these, both the agency and the employees benefit.
• Money or Family Values First? Which Way to Go As such, family values becomes the epicenter of shaping individual behavior and actions towards the attainment of a certain good, while money assumes the position of facilitating the attainment of a certain good such as […]
• Money Management: Investment on Exchange-Traded Funds The essay will discuss the possibility of investing in a number of selected ETFs in connection to an investment objective of an individual.
• Money Laundering Scene in Police Drama “Ozark” In one of the first season’s episodes, Marty, the main character, illustrates the process of money laundering crime. In the scene, one can see that Marty is fully sane and is committing a crime voluntarily.
• Business Case Scenario: Missing Money in a Company A possible scenario explaining how money is missing is through the payroll department my first argument seeks to prove the payroll department as the loophole of the company’s misfortunes.
• Sports Stadiums’ Funding by Public Money The issue is controversial from an ethical point of view since not all citizens whose taxes can be spent on the construction of the stadium are interested in or fond of sports.
• Money Laundering: The Kazakhgate Case He was accused of breaking the Foreign Corrupt Practices Act of 1974 and money laundering by the U.S.attorney’s office for the Southern District of New York.
• The Ways Terrorists Raise and Move Money Moreover, the government has put into action the freezing orders and blocking of united states individuals who are presumed to have a hand in terrorist activities.
• “Money as a Weapon” System and Fiscal Triad Furthermore, the fiscal triad encompasses the procurement of products and services and the disbursement and accounting of public funding. Fiscal legislation and contracts are two key components of the “money as a weapon” system.
• The Fiscal Triad and Money as a Weapon System The reliance on the unit commanders sparked the development of the complementary strategy, “Money as a Weapon System,” which became a focal point of the Iraq and Afghanistan campaigns.
• Saving Money Using Electric or Gas Vehicles The central hypothesis of the study is that the electric car will save more money than gas ones. The main expected outcome that the study is counting on is a confirmation of the presented hypothesis […]
• Traditional vs. Modern Forms of Money The most significant argument for the continuing existence of traditional forms of money is the impossibility of converting all financial resources into a digital form.
• Money Laundering Through Cryptocurrencies This study will try to critique the approaches used by countries to address the aspect of money laundering activities and the risks posed by digital currencies.
• Time Value of Money: What You Should Know The time value of money is a paramount financial concept, according to which a certain amount is now worth more than the same amount in the future.
• Play Money Paper: A Report Betas of the Companies in the Portfolio It is noteworthy that in the given portfolio, the beta indices of the companies involved vary considerably.
• Integration of Business Ethics in Preventing Money Laundering Schemes The shipping information within the document seems inaccurate with the intention to launder money from the buyer. The contribution of ocean carrier in the transaction process is doubtful to a given extent.
• Trade-Based Money Laundering The purpose of this paper is to research the subject of trade-based money laundering, its impact on global scene and export controls, identify types of trade finance techniques used to launder illegal money, and provide […]
• Impact of Natural Disasters on Money Markets and Investment Infusion of funds from the central bank during natural disasters results in higher process of exports as a direct result of an increase in the value of the local currency.
• The Perception of Money, Wealth, and Power: Early Renaissance vs. Nowadays In the Renaissance period, power was a questionable pursuit and could be viewed as less stable due to more frequent upheavals.
• Financial Institutions and Money Money is a store of value because it can be saved now and used to purchase se goods and services in the future.
• Researching of the Time Value of Money After receiving the loan, one of the monetary policies that would help PIIGS to stabilize is the deflation of their currency, in this case, the Euro.
• Anti-Money Laundering: Financial Action Task Force Meanwhile, given the limited access for physical assessment of state jurisdictions, it is likely that current provisions of FATF are yet to be revised in spite of pandemic travel and assessment restrictions.
• Anti-Money Laundering in the UK Jurisdiction The regime adopted in the UK is based on the provisions of “the Terrorism Act of 2000, the Proceeds of Crime Act of 2002, as well as the Money Laundering, Terrorist Financing, and Transfer of […]
• Trade-Based Money Laundering and Its Attractiveness The proliferation of the trade-based money laundering is directly related to the growing complexity of international trade systems, where new risks and vulnerabilities emerge and are seen as favorable among terrorist organizations seeking for the […]
• Money Laundering and Sanctions Regulatory Frameworks Under the provisions of OFAC, the company has violated the cybersecurity rules that might indirectly bring a significant threat to the national security or the stability of the United States economy by engaging in online […]
• Type Borrowing Money: Margin Lending In the defense of the storm financial planning firm, BOQ submitted to the authorities that in view of banking regulatory policies, storm had not contravened any of the policies and this is the reason why […]
• Lessons on Financial Planning Using Money Tree Software Financial planning remains a fundamental function among the investors in coming up with a method of using the finances presently and in the future.
• The Supply of Money in the Capitalist Economy In the capitalist economy that the world is currently based on, the supply of money plays a significant role in not only affecting salaries and prices but also the growth of the economy.
• Time Value of Money Defined and Calculations Simply put, the same value of money today is worth the same value in future. The time value of money can therefore be defined as the calculated value of the money taking into consideration various […]
• Money Tree Software: Financial Planning This return is important because: It represents the reward the business stakeholders and owner of the business get in staking their money on the business currently and in the future It rewards the business creditors […]
• What Is Money Laundering and Is It Possible to Fight It Certainly and more often money involved in laundering is obtained from illegal activities and the main objective of laundering is to ‘clean’ the dirty money and give it a legitimate appearance in terms of source.
• How Money Market Mutual Funds Contributed to the 2008 Financial Crisis While how the prices of shares fell below the set $1 per share was a complex process, it became one of the greatest systemic risks posed by the MMMF to the investors and the economy […]
• Time Value of Money From an Islamic Perspective Islamic scholars say that the time value of money and the interest rates imposed on money lent are the reasons why the poor keep on getting poor and the rich richer.
• Rational Decision Making: Money on Your Mind The mind is responsible for making financial decision and it is triggered by the messages we receive on the day to day activities. Lennick and Jordan explain that, we have two systems in the brain; […]
• A Usability Test Conducted on GE Money.com.au It is common knowledge that the easier it is to access services and products on a given website the more likely users will be encouraged to come back.
• “Most Important Thing Is Money Ltd”: Vaccination Development Thus, necessary powers have been vested with the Secretary of State for Health in England, through the recommendations of the Joint Committee on Vaccinations and Immunisation to enforce such preventive steps, through necessary programs that […]
• Money Investments in the Companies and Bonds The stock volume is on the low level now, about 30, but it is connected with the crisis in the world and the additional investment may support the company and increase it. In general the […]
• Money Management in the Organization There is a much debate on the issue and several people an financial experts do analyze the historical perspectives of the Active vs Passive money management.
• How the Virus Transformed Money Spending in the US In the article featured in the New York Times, Leatherby and Geller state that the rate at which people spend their money has rapidly decreased due to the emergence of the virus in the United […]
• The Role of Money and Class Division in Society The image of modern American society tries in vain to convey the prevalence of personality over social division. Americans’ perception of financial status has been shaped for years by creating the notion of the “American […]
• Money and American Classes in 1870-1920 Wherein, the time of the stock market emergence was the time of the ongoing “carnival,” where the mystical power of money transferred to miraculous products and medicines and compelling advertisements.
• The Ascent of Money – Safe as Houses Looking from a broad historical perspective, Niall Ferguson devotes the chapter “Save as Houses” to the observation of the real estate concept transformation, describes the place of the real estate market in the economic systems […]
• The Ascent of Money – Blowing Bubbles The price for a share tells how much people rely on the cost of the company in the future. The life of a stock market represents the reflection of human moods on the price of […]
• Canada’s Role in the History of Money: The Relationship Between Ownership and Control Individuals with the predominant shares gain the directorship of the wealth production channels and as such gain control of the diversified owners.
• Why Non-Monetary Incentives Are More Significant Than Money It is important to recognize that both monetary and non-monetary incentives, otherwise known as total rewards, are offered to employees in diverse ways for purposes of attracting and motivating them to the ideals of the […]
• Money Role in Macro Economy The dollar is till now the most accepted currency in the world and this dollar fluctuation that has been caused by the worst recession in American history since the time of the Great Depression is […]
• Two Attitudes Toward Money Two attitudes toward money involve negative perception of money as universal evil and positive perception of money as source of good life and prosperity.
• Change in the Value of Money According to Keynes To explain the effect of inflation on investors, Keynes delves into the history of inflation through the nineteenth century and tries to explain the complacency of investors at the beginning of the First World War […]
• Organizational Communication & the “Money” Aspect While the use of this information is critical for both ensuring survival of the organization and being a frontrunner in its strategies for the future, there are large boulders in use of this information effectively, […]
• Tax Money Usage on Military Spending Issue The fact that America won the Cold War and defeated the Soviets is taken as a vindication by the American leaders of the need to continue military spending.
• Money Makes You Happy: Philosophical Reasoning It is possible to give the right to the ones who think that money can buy happiness. This conclusion is not accepted by psychologists who think that wealth brings the happiness only in the moment […]
• Technical Analysis as Active Money Management Method Technical analysis is the financial markets methodology that asserts the capability to foretell the probable course of security charges by the means of past market data study, principally price and volume.
• Spare Change: Giving Money to the “Undeserving Poor” To address the central theme of the article, one need to delve deeper into the psyche of giving alms and money to the poor people we meet on the street.
• The Use of Money in Business Practices Money is seen as the cause of problems and especially in the minds of emerging market respondents. Through this they can pick up groceries for the old in their neighborhood and make money from this.
• Money Laundering and Terrorist Finance However, the balance money after the sham gambling is transferred to another ordinary bank account, thereby creating a legal status for the laundered money as if it has come from gambling and will be employed […]
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• Time Value of Money in Examples Therefore, re-purchase of the shares appeals to the managers of the company because it will allow the company uses the money to regenerate more money for the purpose of repurchase the shares in the future.
• Money Laundering in the USA and Australia The International Money Fund has established that the aggregate size of money laundering in the World is approximately four percent of the world’s gross domestic product.
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• How Money Markets Operate? Furthermore, only free markets have shown the resilience that is necessary to accompany the fluctuations in demand and supply of the money markets.
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• History of Money in Spain The production of coins melted from gold also ceased in the year 1904, with the production of that melted from silver ceasing in the year 1910.
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• Money, Their Features, Functions and Importance The first hindrance is the inability of the household to monitor the activities of firms. In this case, it is used to state the value of debt.
• Happiness Without Money in Sociology and Psychology The tendency’s mechanics are simple – being in the possession of any substantial sum of money increases a person’s chance to secure a dominant status within the society, which in turn will result in strengthening […]
• Money Market Development Factors The money market is one of the fundamental elements in the functioning of any state. Under these conditions, the gradual rise of technologies and their implementation in the sphere of financial operations alter the money […]
• “God’ Money is Now My Money” by Stanley Seat It could be said that different priorities and the lack of time for supervision of the employees are the critical reasons for the violation of rules and high frequency of fraud in the religious institutions […]
• International Money Laundering Thus, money laundering has a profound impact on the state of the global economy, as well as on the economy of the U.S.
• Cybercrime and Digital Money Laundering The result of the investigation was the indictment of Western Express and a number of the company’s clients for several charges including stolen credit card data trafficking and money laundering.
• Hawala Remittance System: Anti-Money Laundering Compliance The existence and operation of money remittance systems is one of the primary features of developing economic relation at all scales from local to the global ones.
• Time Value of Money in Economies of Scale Also, the investigation of the VoF becomes easier by means of scrutinizing the tradeoff between the TVM and the EoS. The TVM is also employed to reach the integration of infrastructure investment valuation and risk […]
• Time Value of Money in Investment Planning The author of the post makes a good point that an amount of money is worth more the sooner it is received.
• David Leonhardt: May Be Money Does Buy Happiness After All The case study of Japanese citizens that support Easterlin paradox do not factor in the confounding psychological effects of the Second World War on the entire population and the country.
• Illegal Drug Use, Prostitution and Money Laundering Upon discussing the impact of money laundering, illegal drugs, and prostitution, the paper proposes the issuing of a court order restraining the use of wealth acquired from victimless crimes as one of the approaches to […]
• Getting Beyond: Show Me the Money Nevertheless, underpayment and overpayment are common, leading to dissatisfaction. Notably, compensation is part culture, but analytics will gain traction in the big data era, as start-ups leverage such advantages from experts to manage a sales […]
• Space Programs: Progress or Waste of Money? According to Ehrenfreund, the ingenuity to develop technologies and work in space is part of the progress that comes from space programs. Space programs have led to the development of technologies that improve air transport.
• “The Money Machine: How the City Works” by Coggan The media plays a chief role in educating the public concerning the various financial matters that affect the undertakings of the City.
• Money Evolution in Ancient Times and Nowadays In the means to defining what money is, most of the scholars from the psychological and physiological field have come up with the theoretical aspects of money and the ways it influences the economic growth […]
• Fraud and Crime Theory in the “Black Money” Movie The movie shows the irregularities involved in the acquisition of arms for the Saudi government. The movie is a perfect display of the international crimes and financial fraud that has been on the rise in […]
• Mercantilism, Stamped Money, and Under-Consumption It is paramount to note that he criticizes ideas of Ricardo quite frequently, and he believed that he did not consider the ideas that were suggested by other prominent economists.
• “From Empire to Chimerica” in “The Ascent of Money” In the chapter “From Empire to Chimerica,” Niall Ferguson traces back the history of the Western financial rise and suggests that nowadays it is being challenged by the developing Eastern world. The hegemonic position of […]
• Money Evolution in the 21st Century and Before The history of the world cannot be described effectively without identifying the function of money. Money has been used to measure the value of resources and financial markets.
• Financial Crisis in Ferguson’s “The Ascent of Money” By Ferguson, the main purpose of the historian is to relieve humanity from the financial illusions on the examples of the past.
• Monetary Policy in “The Ascent of Money” by Ferguson The rise of Babylon is closely linked to the evolution of the concept of debt and credit; without bond markets and banks, the brilliance of the Italians would not have materialized; the foundation of the […]
• The Airtel Money Service: Indian and African Paths When comparing the Indian and African paths in introducing the service, the first difference that arises is the main user of the service as in the case of India, it was the lower middle class.
• Money History, Ethical and Social Standarts These moral preconditions of the emergence of money, the social conventions that regulate and control it, and the evolvement of its status in the present-day world can be regarded as the most significant events in […]
• World Money History in the 20th Century and New Objects of Value The class materials examined the developments, hurdles, and systems that have emerged due to the changing roles of money in the global economy.
• Paper Money and Its Role Throughout History The adoption of the paper money was considered to be beneficial for both the wealth of the country and the individual businessmen.
• Locke’s Work on Interest and Value of Money Locke’s “Some Considerations of the Consequences of the Lowering of Interest and the Raising the Value of Money” is one of his principal papers devoted to the analysis of the most actual economic issues of […]
• Money in the “Sheriff of Cape Breton” Case Study It is a typewritten petition concerning the details of the death of the late Peter Ferguson. Before the evaluation of the paper, it is necessary to define the major concerns described in the case study.
• Medieval England in “Treatise on the New Money” The availability of standard quality coins was crucial to the effective running of the government and the stability of the economy.
• Blowing Bubbles in Ferguson’s “The Ascent of Money” Moreover, the author shows the connection and similarities between the present collapse of a stock market and the Enron default along with a Mississippi Bubble of the eighteenth century that was created by John Law, […]
• Treatise on the New Money: Document Analysis The debasement of silver and gold money led to the generation of more profits thereby covering the losses that arose from the use of low-value copper.
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Essay on Money

Introduction to The Power and Perils of Money

“Where Money Talks, Values Listen.”

Money is a fundamental aspect of modern society, serving as the lifeblood of economies and a cornerstone of daily life. Money holds immense significance in our lives, from facilitating transactions to influencing social dynamics. In this essay, we delve into the multifaceted nature of money, exploring its origins, functions, and profound impact on individuals and society.

As we navigate the complexities of money, we’ll unravel its historical roots, examine its various forms and functions, and delve into its role as a catalyst for economic growth and social change. Furthermore, we’ll explore the intricacies of personal finance, discussing the importance of financial literacy and responsible money management in achieving financial stability and well-being.

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Beyond its economic implications, we’ll also explore the broader societal effects of money, including its role in shaping social hierarchies, perpetuating economic inequality, and influencing political landscapes. Ultimately, this essay aims to provide a comprehensive understanding of the significance of money in our lives, shedding light on its profound impact on both individual prosperity and societal dynamics.

Origin and Evolution of Money

Money has been an essential part of human civilizations for thousands of years in all its manifestations. From basic barter systems to complex financial tools of the present day, money has always been important. Understanding the origin and evolution of money provides crucial insights into its significance and impact on society.

1. Barter Economy and the Emergence of Money:

• Barter System: In primitive societies, individuals engaged in barter, exchanging goods and services based on mutual needs, with each person trading one commodity for another. Limitations of the barter system, including the “double coincidence of wants,” led to inefficiencies and logistical challenges.
• Evolution to Commodity Money: Commodity money emerged as a solution to the shortcomings of barter, with certain items, such as cattle, grains, or precious metals, gaining widespread acceptance as mediums of exchange. Commodity money possessed intrinsic value and was universally recognized, facilitating trade and commerce across regions.

2. Development of Metal Coins:

• Introduction of Metal Coins: Metal coins, particularly gold and silver, emerged as standardized forms of currency in ancient civilizations, including Mesopotamia, Egypt, and Greece. Metal coins facilitated trade by providing a convenient and durable medium of exchange, standardized in terms of weight and purity.
• Coinage and State Authority: The minting of coins became centralized under the authority of states and rulers, leading to the establishment of monetary systems and the issuing of official currency. Coinage symbolized the sovereignty and power of states, with rulers often inscribing their images and symbols on coins as a means of propaganda and control.

3. Transition to Fiat Money:

• Rise of Paper Money: With the expansion of trade and commerce, the need for a more flexible and portable form of money led to the introduction of paper currency. Paper money initially represented claims to a specific quantity of precious metals, serving as promissory notes issued by banks and governments.
• Decoupling from Precious Metals: Over time, central banks and governments gradually abandoned the linkage between paper money and precious metals, transitioning currencies to fiat money and deriving their value from the trust and confidence of users rather than intrinsic value. Adopting fiat money allowed for greater flexibility in monetary policy and facilitated the expansion of credit and financial markets.

4. Evolution of Digital and Cryptocurrencies:

• Digital Currency: Digital currencies, electronic records with monetary value saved in digital form, result from the Internet’s and electronic banking’s development. Digital currencies, such as electronic bank transfers and payment systems, revolutionized how money is transferred and accessed, offering convenience and efficiency.
• Cryptocurrencies: Blockchain -based cryptocurrencies, like Ethereum and Bitcoin , are examples of decentralized digital money. Cryptocurrencies provide increased privacy, security, and decentralization but also present regulatory and stability concerns because they function independently of governments and central banks.

The Basic Need for Money

• Meeting Basic Needs: Money is essential for meeting basic human needs, such as food, shelter, clothes, and healthcare. Access to money enables individuals to purchase necessary goods and services for survival and well-being, ensuring a decent standard of living.
• Facilitating Economic Transactions: Money serves as a medium of exchange, enabling the exchange of goods and services in the marketplace. It enables individuals to engage in economic transactions, buy goods, pay for services, and participate in economic activities that contribute to economic growth and development.
• Access to Education and Skills Development: Money is necessary for education and skills development opportunities. Investing in education and training enhances individuals’ knowledge, skills, and employability, leading to better job prospects and higher earning potential.
• Healthcare and Medical Services: Money is vital for healthcare services and medical treatment. Individuals require financial resources to pay for medical expenses, health insurance, and access to quality healthcare facilities, ensuring their physical well-being and addressing health-related concerns.
• Housing and Shelter: Money is essential for securing housing and shelter providing individuals and families with a safe and stable living environment. Access to affordable housing options requires financial resources for rent, mortgage payments, or property ownership, ensuring adequate housing for individuals and communities.
• Transportation and Mobility: Money facilitates transportation and mobility, enabling individuals to travel for work, education, healthcare, and recreational purposes. Access to transportation choices, such as public transit, vehicles, or ride-sharing services, requires financial resources to cover transportation costs and maintain mobility.
• Emergency Preparedness and Resilience: Money is crucial for building emergency funds and financial resilience. Having savings and financial resources enables individuals to prepare for unexpected expenses, emergencies, and financial setbacks, providing a safety net during challenging times.
• Social and Recreational Activities: Money plays a role in accessing social and recreational activities that contribute to overall well-being and quality of life. Participating in leisure activities, entertainment, and social events often requires financial resources to cover expenses related to leisure pursuits and social engagements.

The Role of Money in Society

Money is a cornerstone of societal structures, influencing economic activities, social relationships, and individual well-being. Its multifaceted role extends beyond a mere medium of exchange, encompassing various functions integral to modern societies’ functioning.

1. Economic Significance of Money:

• Facilitating Trade and Commerce: Money acts as a universally accepted medium of exchange, facilitating the soft flow of goods and facilities in the market. Eliminating the need for direct barter enhances efficiency and encourages specialization in production.
• Measurement of Value: Money provides a common unit of account, allowing for the standardized measurement of the value of different goods and services. This function enables individuals to compare prices, make informed decisions, and confidently engage in economic transactions.
• Economic Growth and Development: A stable and reliable monetary system fosters economic growth and development . Governments and central banks use monetary policy tools to regulate money supply, interest rates, and inflation to maintain economic stability.

2. Social Significance of Money:

• Influence on Social Status and Power: The possession of wealth and financial resources often correlates with social status and power within a community. Economic disparities can create social hierarchies, impacting individuals’ access to opportunities and resources.
• Impact on Lifestyle and Standard of Living: The availability of financial resources influences an individual’s lifestyle and standard of living. Money provides access to education, healthcare, housing, and other essential services, shaping the quality of life for individuals and communities.

3. Money and Personal Finance:

• Importance of Financial Literacy: Financial education empowers people to make informed decisions about earning, spending, saving, and investing. Understanding the principles of personal finance is essential for achieving financial security and long-term well-being.
• Managing Personal Finances: Budgeting, saving, and investing are key to effective personal finance management. Individuals must make strategic financial decisions to meet their short-term and long-term goals.
• Psychological Aspects of Money: People often tie money to their emotions and psychological well-being. Developing a healthy money mindset involves understanding one’s relationship with money and addressing any emotional factors that may impact financial decisions.

4. Impact of Money on Society:

• Economic Inequality: The distribution of wealth and income in society can contribute to economic inequality. Addressing issues of inequality requires a nuanced understanding of the role of money and the implementation of policies that promote equitable wealth distribution.
• Consumerism and Materialism: Money influences consumer behavior , contributing to a culture of consumerism and materialism. Society’s emphasis on material possessions can impact individuals’ values and priorities.
• Influence on Politics and Governance: Money plays a significant role in political processes, affecting campaigns, lobbying, and policy decisions. The intersection of money and politics raises questions about transparency, accountability, and the democratic process.
• Environmental Implications: Economic activities driven by the pursuit of profit can have environmental consequences. Balancing economic growth with environmental sustainability requires careful consideration of the environmental impact of monetary and economic policies.

Functions of Money

• Medium of Exchange
• Money is a widely acknowledged medium of exchange for goods and services, facilitating transactions between buyers and sellers.
• It eliminates the inefficiencies of barter by providing a common unit of value that simplifies the exchange process.
• Unit of Account:
• Money provides a standardized unit of measurement for the value of goods and services, permitting easy comparison of prices and making economic calculations more efficient.
• It enables individuals and businesses to express the relative worth of different goods and services in terms of a common currency.
• Store of Value:
• Money serves as a store of value, permitting individuals to hold and accumulate wealth over time.
• Unlike perishable goods or assets with fluctuating value, money retains its purchasing power over extended periods, providing a reliable means of preserving wealth.
• Standard of Deferred Payment:
• Money facilitates transactions involving future obligations by serving as a medium for deferred payments.
• Contracts, loans, and other financial agreements often stipulate payments in a specific currency, with money as the standard for settling debts and fulfilling obligations.
• Money’s high liquidity enables it to be readily convertible into goods, services, or other assets without experiencing a significant loss of value.
• Its liquidity enables individuals to quickly access funds for urgent expenses or investment opportunities, contributing to economic flexibility and efficiency.
• Measure of Value:
• Money is a measure of value, providing a common denominator for expressing the worth of different goods and services.
• Its role as a measure of value facilitates economic decision-making, allowing individuals to assess the relative utility and worth of various goods and services.
• Facilitates Specialization and Efficiency:
• Money enables specialization and division of labor by allowing individuals and businesses to focus on producing goods and assistance in which they have a comparative advantage.
• Specialization leads to increased productivity and efficiency, driving economic growth and prosperity.
• Portability and Durability:
• Money is highly portable and durable, making it a convenient medium of interaction for transactions of varying sizes and distances.
• The physical forms of money (such as coins and banknotes) and their digital representation ensure ease of transportation and storage, contributing to its widespread use in modern economies.

The Ethics and Morality of Money

While essential for economic transactions and societal functioning, money raises ethical and moral considerations beyond its economic utility. From wealth distribution issues to the impact of financial decisions on individuals and society, exploring the ethical dimensions of money sheds light on complex moral dilemmas and societal values.

• Wealth Distribution and Economic Inequality: One of the most significant ethical concerns about money is the unequal distribution of wealth and income within societies. Critics argue that extreme wealth disparities contribute to social injustice and perpetuate systemic inequalities, raising questions about fairness and equity.
• Social Responsibility of Wealth: Accumulating wealth brings with it a moral obligation to contribute to society’s well-being. Concepts like philanthropy, corporate social responsibility, and impact investing highlight the ethical imperative for individuals and organizations to use their financial resources for the greater good.
• Ethical Consumption and Consumerism: Consumerism fueled by the pursuit of material wealth raises ethical questions about consumption patterns’ environmental and social impact. Ethical consumption movements advocate for mindful spending and sustainable lifestyles that consider the broader consequences of consumer choices.
• Ethics in Financial Services: The financial industry operates within a complex ethical landscape, with issues like transparency, conflicts of interest, and fair treatment of clients coming under scrutiny. Ethical codes of conduct and regulations aim to promote integrity and trust in financial services, ensuring that financial professionals prioritize the interests of their clients.
• Debt and Financial Vulnerability: Ethical considerations arise in lending practices, particularly regarding the responsible provision of credit and the treatment of borrowers, especially those in vulnerable financial situations. Predatory lending practices and exploitative debt arrangements raise ethical concerns about the consequences of financial transactions on individuals’ well-being.
• Corruption and Financial Crime: Money laundering, bribery, and other forms of financial crime undermine the integrity of financial systems and pose ethical challenges to businesses, governments, and individuals. Ethical frameworks and legal regulations aim to combat financial corruption and promote accountability and transparency in financial transactions.
• Psychological Impact of Money: Money’s influence on individuals’ attitudes, behaviors, and relationships raises ethical questions about the psychological effects of wealth and materialism. The pursuit of wealth can lead to ethical dilemmas related to greed, envy, and the prioritization of financial gain over other values.
• Cryptocurrency and Ethical Considerations: Emerging digital currencies, such as cryptocurrencies, introduce new ethical considerations related to privacy, security, and the potential for illegal activities like money laundering and fraud. Ethical discussions surrounding cryptocurrencies also touch on financial inclusivity, decentralization, and the democratization of finance.

Financial Education

Financial education is essential to enable people to make informed decisions concerning their money, investments, and overall economic well-being. It covers many topics, from basic budgeting and savings to more complex concepts like investing, debt relief, and retirement planning. The need for financial literacy is huge in today’s complex financial world, where individuals are more accountable for their financial future.

• Foundational Knowledge: Basic financial concepts like income, expenses, budgeting, and savings are the first things students learn about when they start their financial education. Comprehending these underlying concepts establishes the foundation for prudent financial judgment and accountable handling of finances.
• Budgeting and Saving: Effective budgeting and saving are essential for financial education. Individuals learn how to create and stick to a budget, allocate funds for essential expenses, savings, and discretionary spending, and build an emergency fund to weather unforeseen financial challenges.
• Debt Management: Financial education teaches individuals about managing debt responsibly, including understanding different types of debt, interest rates, and repayment strategies. It emphasizes the importance of avoiding excessive debt and using credit wisely to maintain financial health.
• Investing and Wealth Accumulation: Investing is a key aspect of financial education, enabling individuals to grow their wealth over the long term. Topics covered may include understanding investment options (stocks, bonds, mutual funds, etc.), risk tolerance, asset allocation, and strategies for assembling a diversified investment portfolio.
• Retirement Planning: Financial education helps individuals plan for their future financial security, including retirement. It covers retirement savings vehicles (e.g., employer-sponsored retirement plans, IRAs), estimating retirement expenses, and developing a strategy to achieve retirement goals.
• Risk Management and Insurance: Understanding risk management and insurance is integral to financial education. Individuals learn about different types of insurance (e.g., health, life, property) and how insurance can mitigate financial risks and protect against unexpected events.
• Financial Decision-making: Financial education supplies individuals with the knowledge and skills to make instructed financial decisions based on their goals, values, and circumstances. It encourages critical thinking and evaluating financial products and services, empowering individuals to navigate the financial marketplace effectively.
• Economic Empowerment: Financial education is a tool for economic empowerment, particularly for marginalized communities and underserved populations. Promoting financial literacy and capability helps individuals build financial resilience, reduce vulnerability to financial exploitation, and achieve greater economic independence.
• Lifelong Learning: Financial education is a lifelong journey with changing financial circumstances and economic conditions. It emphasizes the importance of ongoing learning, staying informed about financial trends and developments, and adapting financial strategies as needed throughout life.
• Social and Policy Implications: Financial education has broader social and policy implications, influencing financial inclusion, economic mobility, and societal well-being. Policies that promote financial education in schools, workplaces, and communities can contribute to building a financially literate society and reducing financial disparities.

Money in the Digital Age

• Digital Payments and Transactions: The addition of digital payment methods, including mobile wallets, online banking, and peer-to-peer payment platforms, has reshaped the conduct of transactions. Digital payments offer convenience, speed, and accessibility, allowing individuals to transfer funds, make purchases, and manage finances seamlessly across various digital channels.
• Cryptocurrencies and Blockchain Technology: Cryptocurrencies, such as Bitcoin and Ethereum, represent a decentralized digital currency powered by blockchain technology. Blockchain technology enables secure, transparent, and tamper-proof transactions without intermediaries like banks or financial institutions.
• Financial Inclusion and Access: The digitalization of money can promote financial inclusion by delivering access to financial services for underserved populations. Digital payment platforms and mobile banking services empower individuals in small areas or underserved communities to participate in the formal financial system.
• Challenges and Risks: Despite the benefits, the digitalization of money presents challenges and risks, including cybersecurity threats, data privacy concerns, and regulatory challenges. Fraud, hacking, and data breaches highlight the importance of robust cybersecurity measures and regulatory frameworks to protect consumers and maintain trust in digital financial systems.
• Central Bank Digital Currencies (CBDCs): Central banks are exploring the vision of central bank digital currencies (CBDCs) as a digital alternative to traditional fiat currencies. CBDCs combine the advantages of digital currencies with the stability and regulatory oversight provided by central banks, potentially reshaping the future of money and monetary policy.
• Smart Contracts and Decentralized Finance (DeFi): Smart contracts, facilitated by blockchain technology, automate and enforce the words of contracts without intermediaries. Decentralized finance (DeFi) leverages blockchain and innovative contract technology to create decentralized financial services outside traditional banking systems, including lending, borrowing, and trading.
• Cross-Border Transactions and Remittances: Digital currency and blockchain technologies promise to stream international transfers and reduce expenses and inadequacies linked to conventional remittance systems. Cryptocurrencies and stablecoins offer an alternative means of transferring value globally, bypassing traditional banking channels and intermediaries.
• Regulatory Landscape and Policy Considerations: Governments and officials face regulatory hurdles due to the rapid evolution of digital currency. Regulatory frameworks must actively update to consider the changing landscape of digital finance to preserve consumer protection, financial stability, and compliance with know-your-customer (KYC) and anti-money laundering (AML) regulations.

Money is a cornerstone of modern society, serving as a medium of exchange, store of value, and facilitator of economic activities. Its significance extends beyond financial transactions, impacting individuals’ access to basic needs, economic opportunities, and overall well-being. Understanding the multifaceted role of money is crucial for promoting financial literacy, responsible money management, and equitable access to financial resources in today’s complex socioeconomic landscape.

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Essay on Money | Money Essay for Students and Children in English

February 13, 2024 by Prasanna

Essay on Money: The concept of money was invented somewhere in 5000 B.C by a few traders in Western Europe. Ever since the invention, different countries have adopted it and started printing their own money with specific values, which was usually backed by gold. But before money was invented, trading used to happen with a system called a barter system, where you could buy one product or service with an exchange of another product. This is basically a brief history of money.

For centuries, money has been, gradually, incorporated into every corner of our lives. Not to sound cliché, but the entire world runs on one simple thing called money. Thanks to those traders hundreds of years back, our lives now entirely revolve around the man-made concept of money.

You can also find more  Essay Writing  articles on events, persons, sports, technology and many more.

Long and Short Essay on Money in English for Children & Students

In this article, we provide a 600-word long essay on money for school children for projects and assignments. We also provide a 200-word short essay on money for school and college assignments and project work.

Long Essay on Money

A very informative 400 to 600-word long essay on money for school and college projects and assignments can be found below.

While not everything is about money, we will have to come at a point of realization where we simply cannot live without money. It’s a hard truth. But isn’t the world being too negative about money? No essay on money will make sense if it is just about history and facts. So let us see how money has impacted our lives. Just like every attribute in our society, money has two sides. The evil and the good.

What’s the Good Side of Money?

When we say our lives revolve around money and everyone is just chasing it, it is usually considered with a negative connotation. Not everything about money should be taken in a bad light. The whole concept of money and capitalism has given people livelihood, better standards of living and most importantly an equal platform for everyone to work hard and fulfill their dreams.

Trust and Convenience of Money

Money is one of the biggest and most valuable and trustworthy forms of trade in which businesses can thrive and consumers can be saved from fraud and cheating. One of the biggest plus points of money is the trust factor it carries with it. Imagine having to carry out the barter system even today, where, to get a kilo of rice, you need to give a kilo of wheat. Sounds funny, isn’t it?

Equality of Money

This is, surprisingly, one thing that can bring people from different walks of life to agree upon. Money can buy you a good standard of living, it can buy you respect and value in society. Every person, irrespective gender, race, ethnicity or creed will be provided with an equal level playing field to earn money and lead a better life

Motivation and Direction of 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

What is the Evil Side of Money?

Well, not everything is hunky-dory about our financial systems. It would only be fair to talk about the disadvantages of money also to have a well-informed essay on money.

Whether it is capitalism or socialism, democracy, or communism or where its India or China, our system of money in the world has many cracks and fault lines within it.

• Broken system: If the concept of money in its pure form was used properly, there would have been equality on all scales and levels in the world. But, the reality is far from our imagination. The hierarchical system, in both capitalism or socialism, has created an immense amount of inequality and large gaps in income. It is true that more than 90% of the world’s wealth is in the hands of 2% of the population. If this is not a sign of a broken system, then we don’t know what is
• Greed: We need to understand the difference between desire and greed. When the fine line between the two is made more visible, then maybe our world will start healing itself. We are not necessarily talking about individual greed for money, but we are talking about issues on a much larger scale. Businesses are solely running to make profits, the government is more concerned about saving the economy than their own people or the environment we live in. The greed for money is destroying our nature, creating an imbalance in the natural cycle of the world and led us into wars, famine, poverty and pandemics.

Short Essay on Money

A short essay on money with a word limit of 150 to 200 can be found below for school assignment and projects

We can’t deny the fact that we cannot live without money. Money is undoubtedly the more important thing to live a happy and content life. Sure, the money will help us buy our dream car or impress and give a dignified life for our parents, but we also need to remember that there is more to life than just earning money.

Money can make or break many things, but like any other thing in the world, money also needs to have limits and should be used judiciously. The gap between rich and poor is because of poorly planned financial systems and an immense amount of greed which is a pet of human tendency

On a big picture level, governments need to fix the broken financial systems and modify our capitalist and socialist mindsets to create for ourselves a better world and leave an even better society to our next generation.

10 Lines on Money Essay

• Money is the only trustworthy and convenient way of trade
• The money we use is guaranteed and backed by our government
• Money, collected in the form of tax, helps us create a better environment for us
• Earning money will give people hope and direction to lead a happy life
• Money doest just buy tangible things like car or house, money also helps you earn respect and dignity in the society
• Hard work, responsibility and dedication is what reflects in a person’s character if they have a good amount of money
• Money is the core factor in all type of economies like a capitalist, socialist and communist economies
• Money has provided equal opportunities for everyone in the world
• Wrong use of money and greed has led to certain world issues like terrorism, pandemics and famine
• The difference between the amount of money rich and poor has, reflects loopholes and problems in our system

FAQ’s on Essay on Money

Question 1. What if the concept of money was not there?

Answer: We would be back to our age-old barter system. Globalization and industrialization would never be possible and each country and each village in the country would be self-sufficient and isolated

Question 2. Is money good or bad?

Answer: This is one of the most daunting questions that economists, leaders and other experts are pondering upon for years. There is no simple answer, but the present system, if modified well, can make money the best thing in the world.

Question 3. Why can’t governments just print money?

Answer: Every money, even a Rs. 1 is backed by government securities, usually in gold or dollars. If we print more than the security we have, our fiscal deficit will increase, which means that the value of money will get reduced as it will be available everywhere to everyone. It is a simple supply and demand theory.

Question 4. What are the different types of money?

Answer: In terms of value and currencies, we have dollar, rupees, pounds, yuan and many more for each country. In terms of physical existence, we have digital money (like bitcoins) and hard paper-based cash. In terms of tangibility, we have hard cash, commodities, fiduciary, representative and fiat money.

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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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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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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

Supported by

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.

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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.

Get the huge list of more than 500 Essay Topics and Ideas

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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How to write a financial need statement for your scholarship application (with examples!)

So you’re applying for a scholarship that asks you about your financial need. What do you say? How honest or specific should you be? What is TMI? In this article, we break down how to pen an awesome financial need scholarship essay or statement.

What to include in a financial need scholarship essay

Template to structure your financial need scholarship essay, introduction: your basic profile, body: your financial situation and hardships, conclusion: how you would benefit from this scholarship, was this financial need essay for a college financial aid application , now, reuse that same essay to apply for more scholarships, additional resources to help you write your financial need scholarship essay.

Many scholarships and college financial aid awards are “need-based,” given to students whose financial situation requires additional support. That’s why one of the most common college scholarship essays is a statement of financial need. This might be very explicit (“Explain your financial need”), somewhat explicit (“Describe your financial situation”), or quite open-ended (“Explain why you need this scholarship”).

In all cases, scholarship providers want to get a sense of your family’s financial picture: what your family income is, if you personally contribute to it (do you have a job?), and how much additional money you need to attend your target college (your “financial gap”).

If the essay prompt is a bit more open-ended (“Explain how this scholarship would help you”), your essay should probably be a combination of a financial need statement and a career goals / academic goals essay.  That’s because you want to show how the award will help you financially and in your academic or career goals.

Usually this statement of financial need is a pretty short scholarship essay (150-300 words), so unlike a college essay or personal statement where you have ample word count to tell anecdotes, you’ll likely need to get right to the point. 

Be sure to include: 

• If you are an underrepresented group at college, for instance, part of an ethnic minority or the first in your family to go to college
• Any relevant family circumstances, like if your parents are immigrants or refugees, as well as your parents’ occupation and how many children/family members they support financially
• How you are currently paying for college, including what you personally are doing to contribute financially (like working student jobs)
• What financial challenges/difficulties your family is facing, for instance, if a parent recently lost their job
• How you would benefit from the scholarship–including your academic and career goals (if word count allows)

Also remember to write in an optimistic tone. Writing about your financial situation or hardships might not be the most positive thing to share. But you can turn it around with an optimistic tone by writing about how these challenges have taught you resiliency and grit.

Give a short introduction to who you are, highlighting any family characteristics that might make you part of an underrepresented group at college. 

“I am a first-generation American and the first in my family to go to college. My family moved from El Salvador to New York when I was seven years old, to escape the violence there.”

Example 2: 

“I am from a working-class family in Minnesota. My family never had a lot, but we pooled our efforts together to make ends meet. My parents both worked full-time (my father as a mechanic, my mother as a receptionist at the local gym), while my siblings and I all worked weekend jobs to contribute to the family income.”

Dive into the details. How are you currently planning to pay for college? The idea here is to show that you and your family have made a good-faith effort to earn enough money to pay your tuition, but that it has simply not been enough. 

Make sure you describe your parents’ occupation, any savings (like a 529 College Savings Account), and any student jobs. You might also discuss any sudden changes in fortune (e.g. parent fell ill or lost their job) that have ruined your original financial plans. 

Example 

As immigrants with limited English, my parents have had to accept low-paying jobs. My father is an Uber driver, and my mother is a housekeeper. They earn just enough to pay our rent and put food on the table, so I’ve always known they could not help me pay for college.  So I’ve been proactive about earning and saving my own money. Since age 11, I’ve worked odd jobs (like mowing my neighbors’ lawns). At age 16, I started working at the mall after school and on weekends. Through all these jobs, I’ve saved about $3000. But even with my financial aid grants, I need to pay $8000 more per year to go to college. 

Bring it home by wrapping up your story.  Explain how you plan to use the financial aid if you’re awarded this scholarship. How will you benefit from this award? What will you put the money toward, and how will it help you achieve your academic and/or career goals?

Scholarship review boards want to know that their money will be put to good use, supporting a student who has clear plans for the future, and the motivation and determination to make those plans a reality. This is like a shortened, one-paragraph version of the “Why do you deserve this scholarship?” essay . 

Winning $5000 would help me close the financial gap and take less in student loans. This is particularly important for me because I plan to study social work and eventually work in a role to support my community. However, since these jobs are not well paid, repaying significant student loans would be difficult. Your scholarship would allow me to continue down this path, to eventually support my community, without incurring debt I can’t afford.

My plan is to study human biology at UC San Diego, where I have been admitted, and eventually pursue a career as a Nurse-Practitioner. I know that being pre-med will be a real academic challenge, and this scholarship would help me focus on those tough classes, rather than worrying about how to pay for them. The $2000 award would be equivalent to about 150 hours of working at a student job. That’s 150 hours I can instead focus on studying, graduating, and achieving my goals. 

Sometimes this financial need statement isn’t for an external scholarship. Instead, it’s for your college financial aid office.

In that case, you’re usually writing this statement for one of two reasons:

• You’re writing an appeal letter , to request additional financial aid, after your original financial aid offer wasn’t enough. In this case, you’ll want to make sure you’re being extra specific about your finances.
• You’re applying for a specific endowed scholarship that considers financial need. In this case, your financial need essay can be quite similar to what we’ve outlined above.

Now that you’ve written a killer financial need scholarship essay, you have one of the most common scholarship essays ready on hand, to submit to other scholarships too.

You can sign up for a free Going Merry account today to get a personalized list of hundreds of scholarships matched to your profile. You can even save essays (like this one!) to reuse in more than one application.  

You might also be interested in these other blog posts related to essay writing:

• What’s the right scholarship essay format and structure?
• How to write a winning scholarship essay about your academic goals
• How to write an awesome essay about your career goals
• Recent Posts

• Scholarships for Students in Pennsylvania for 2024 - November 11, 2020
• Counselor Starter Guide: How to Use Going Merry’s Scholarship Platform - September 9, 2020
• How to write a financial need statement for your scholarship application (with examples!) - August 13, 2020

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Home — Essay Samples — Economics — Finances — Money

Essays on Money

When it comes to writing an essay about money, there are a wide range of topics to choose from. Money is a universal topic that can be explored from various angles, making it a popular choice for essays in many different fields. Whether you are interested in economics, finance, psychology, or sociology, there are plenty of thought-provoking money essay topics to consider. In this article, we will explore some of the best money essay topics.

The Psychology of Money

One interesting money essay topic is the psychology of money. This topic explores the ways in which people think and feel about money, and how these attitudes and beliefs can influence their financial decisions. You could explore topics such as the impact of upbringing and culture on money attitudes, the psychological factors that lead people to overspend or underspend, or the ways in which emotions can influence financial decision-making. This topic is not only fascinating but also highly relevant in today's consumer-driven society.

The Economics of Money

Another popular money essay topic is the economics of money. This topic delves into the fundamental principles of how money works in an economy, including topics such as inflation, monetary policy, and the role of central banks. You could explore the impact of economic theories on the value of money, the relationship between money and economic growth, or the ways in which money is created and circulated in the economy. This topic is a great choice for those with an interest in economics or finance, and it can provide valuable insights into the functioning of the global economy.

The Sociology of Money

The sociology of money is another intriguing money essay topic. This topic examines the social and cultural aspects of money, including topics such as income inequality, social class, and consumer behavior. You could explore the ways in which money impacts social relationships, the role of money in shaping social hierarchies, or the ways in which societal attitudes towards money have evolved over time. This topic is particularly relevant for those interested in sociology, anthropology, or social psychology, and it can provide valuable insights into the ways in which money influences our daily lives.

The Politics of Money

For those interested in politics and governance, the politics of money is a compelling essay topic. This topic explores the ways in which money intersects with political power, including topics such as campaign finance, lobbying, and corruption. You could examine the impact of money on political decision-making, the ways in which money influences electoral outcomes, or the role of money in shaping public policy. This topic is highly relevant in today's political landscape, and it can provide valuable insights into the ways in which money influences the functioning of democratic societies.

The Ethics of Money

Finally, the ethics of money is an important and thought-provoking money essay topic. This topic delves into the moral and ethical implications of financial decisions, including topics such as corporate social responsibility, ethical investing, and the ethical considerations of wealth accumulation. You could explore the ways in which money can be used to promote social good, the ethical dilemmas faced by individuals and organizations in the pursuit of financial gain, or the ways in which ethical considerations can shape financial decision-making. This topic is particularly relevant for those interested in philosophy, ethics, or business ethics, and it can provide valuable insights into the ways in which money intersects with moral and ethical considerations.

When writing an essay about money, it's important to choose a relevant and engaging topic that will attract readers and provide valuable insights. To optimize your essay for search engines, you should include relevant keywords and phrases related to your chosen topic, as well as high-quality content that provides valuable information and insights. You should also consider the structure and formatting of your essay, including the use of headings, subheadings, and bullet points to make your content more scannable and easy to read. By following these best practices, you can ensure that your money essay will attract readers and provide valuable insights into this universal and compelling topic.

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Sat / act prep online guides and tips, getting college essay help: important do's and don’ts.

College Essays

If you grow up to be a professional writer, everything you write will first go through an editor before being published. This is because the process of writing is really a process of re-writing —of rethinking and reexamining your work, usually with the help of someone else. So what does this mean for your student writing? And in particular, what does it mean for very important, but nonprofessional writing like your college essay? Should you ask your parents to look at your essay? Pay for an essay service?

If you are wondering what kind of help you can, and should, get with your personal statement, you've come to the right place! In this article, I'll talk about what kind of writing help is useful, ethical, and even expected for your college admission essay . I'll also point out who would make a good editor, what the differences between editing and proofreading are, what to expect from a good editor, and how to spot and stay away from a bad one.

Table of Contents

What Kind of Help for Your Essay Can You Get?

What's Good Editing?

What should an editor do for you, what kind of editing should you avoid, proofreading, what's good proofreading, what kind of proofreading should you avoid.

What Do Colleges Think Of You Getting Help With Your Essay?

Who Can/Should Help You?

Advice for editors.

Should You Pay Money For Essay Editing?

The Bottom Line

What's next, what kind of help with your essay can you get.

Rather than talking in general terms about "help," let's first clarify the two different ways that someone else can improve your writing . There is editing, which is the more intensive kind of assistance that you can use throughout the whole process. And then there's proofreading, which is the last step of really polishing your final product.

Let me go into some more detail about editing and proofreading, and then explain how good editors and proofreaders can help you."

Editing is helping the author (in this case, you) go from a rough draft to a finished work . Editing is the process of asking questions about what you're saying, how you're saying it, and how you're organizing your ideas. But not all editing is good editing . In fact, it's very easy for an editor to cross the line from supportive to overbearing and over-involved.

Ability to clarify assignments. A good editor is usually a good writer, and certainly has to be a good reader. For example, in this case, a good editor should make sure you understand the actual essay prompt you're supposed to be answering.

Open-endedness. Good editing is all about asking questions about your ideas and work, but without providing answers. It's about letting you stick to your story and message, and doesn't alter your point of view.

Think of an editor as a great travel guide. It can show you the many different places your trip could take you. It should explain any parts of the trip that could derail your trip or confuse the traveler. But it never dictates your path, never forces you to go somewhere you don't want to go, and never ignores your interests so that the trip no longer seems like it's your own. So what should good editors do?

Help Brainstorm Topics

Sometimes it's easier to bounce thoughts off of someone else. This doesn't mean that your editor gets to come up with ideas, but they can certainly respond to the various topic options you've come up with. This way, you're less likely to write about the most boring of your ideas, or to write about something that isn't actually important to you.

If you're wondering how to come up with options for your editor to consider, check out our guide to brainstorming topics for your college essay .

Help Revise Your Drafts

Here, your editor can't upset the delicate balance of not intervening too much or too little. It's tricky, but a great way to think about it is to remember: editing is about asking questions, not giving answers .

Revision questions should point out:

• Places where more detail or more description would help the reader connect with your essay
• Places where structure and logic don't flow, losing the reader's attention
• Places where there aren't transitions between paragraphs, confusing the reader
• Moments where your narrative or the arguments you're making are unclear

But pointing to potential problems is not the same as actually rewriting—editors let authors fix the problems themselves.

Bad editing is usually very heavy-handed editing. Instead of helping you find your best voice and ideas, a bad editor changes your writing into their own vision.

You may be dealing with a bad editor if they:

• Add material (examples, descriptions) that doesn't come from you
• Use a thesaurus to make your college essay sound "more mature"
• Add meaning or insight to the essay that doesn't come from you
• Tell you what to say and how to say it
• Write sentences, phrases, and paragraphs for you
• Change your voice in the essay so it no longer sounds like it was written by a teenager

Colleges can tell the difference between a 17-year-old's writing and a 50-year-old's writing. Not only that, they have access to your SAT or ACT Writing section, so they can compare your essay to something else you wrote. Writing that's a little more polished is great and expected. But a totally different voice and style will raise questions.

Where's the Line Between Helpful Editing and Unethical Over-Editing?

Sometimes it's hard to tell whether your college essay editor is doing the right thing. Here are some guidelines for staying on the ethical side of the line.

• An editor should say that the opening paragraph is kind of boring, and explain what exactly is making it drag. But it's overstepping for an editor to tell you exactly how to change it.
• An editor should point out where your prose is unclear or vague. But it's completely inappropriate for the editor to rewrite that section of your essay.
• An editor should let you know that a section is light on detail or description. But giving you similes and metaphors to beef up that description is a no-go.

Proofreading (also called copy-editing) is checking for errors in the last draft of a written work. It happens at the end of the process and is meant as the final polishing touch. Proofreading is meticulous and detail-oriented, focusing on small corrections. It sands off all the surface rough spots that could alienate the reader.

Because proofreading is usually concerned with making fixes on the word or sentence level, this is the only process where someone else can actually add to or take away things from your essay . This is because what they are adding or taking away tends to be one or two misplaced letters.

Laser focus. Proofreading is all about the tiny details, so the ability to really concentrate on finding small slip-ups is a must.

Excellent grammar and spelling skills. Proofreaders need to dot every "i" and cross every "t." Good proofreaders should correct spelling, punctuation, capitalization, and grammar. They should put foreign words in italics and surround quotations with quotation marks. They should check that you used the correct college's name, and that you adhered to any formatting requirements (name and date at the top of the page, uniform font and size, uniform spacing).

Limited interference. A proofreader needs to make sure that you followed any word limits. But if cuts need to be made to shorten the essay, that's your job and not the proofreader's.

A bad proofreader either tries to turn into an editor, or just lacks the skills and knowledge necessary to do the job.

Some signs that you're working with a bad proofreader are:

• If they suggest making major changes to the final draft of your essay. Proofreading happens when editing is already finished.
• If they aren't particularly good at spelling, or don't know grammar, or aren't detail-oriented enough to find someone else's small mistakes.
• If they start swapping out your words for fancier-sounding synonyms, or changing the voice and sound of your essay in other ways. A proofreader is there to check for errors, not to take the 17-year-old out of your writing.

What Do Colleges Think of Your Getting Help With Your Essay?

Admissions officers agree: light editing and proofreading are good—even required ! But they also want to make sure you're the one doing the work on your essay. They want essays with stories, voice, and themes that come from you. They want to see work that reflects your actual writing ability, and that focuses on what you find important.

On the Importance of Editing

Get feedback. Have a fresh pair of eyes give you some feedback. Don't allow someone else to rewrite your essay, but do take advantage of others' edits and opinions when they seem helpful. ( Bates College )

Read your essay aloud to someone. Reading the essay out loud offers a chance to hear how your essay sounds outside your head. This exercise reveals flaws in the essay's flow, highlights grammatical errors and helps you ensure that you are communicating the exact message you intended. ( Dickinson College )

On the Value of Proofreading

Share your essays with at least one or two people who know you well—such as a parent, teacher, counselor, or friend—and ask for feedback. Remember that you ultimately have control over your essays, and your essays should retain your own voice, but others may be able to catch mistakes that you missed and help suggest areas to cut if you are over the word limit. ( Yale University )

Proofread and then ask someone else to proofread for you. Although we want substance, we also want to be able to see that you can write a paper for our professors and avoid careless mistakes that would drive them crazy. ( Oberlin College )

On Watching Out for Too Much Outside Influence

Limit the number of people who review your essay. Too much input usually means your voice is lost in the writing style. ( Carleton College )

Ask for input (but not too much). Your parents, friends, guidance counselors, coaches, and teachers are great people to bounce ideas off of for your essay. They know how unique and spectacular you are, and they can help you decide how to articulate it. Keep in mind, however, that a 45-year-old lawyer writes quite differently from an 18-year-old student, so if your dad ends up writing the bulk of your essay, we're probably going to notice. ( Vanderbilt University )

Now let's talk about some potential people to approach for your college essay editing and proofreading needs. It's best to start close to home and slowly expand outward. Not only are your family and friends more invested in your success than strangers, but they also have a better handle on your interests and personality. This knowledge is key for judging whether your essay is expressing your true self.

Parents or Close Relatives

Your family may be full of potentially excellent editors! Parents are deeply committed to your well-being, and family members know you and your life well enough to offer details or incidents that can be included in your essay. On the other hand, the rewriting process necessarily involves criticism, which is sometimes hard to hear from someone very close to you.

A parent or close family member is a great choice for an editor if you can answer "yes" to the following questions. Is your parent or close relative a good writer or reader? Do you have a relationship where editing your essay won't create conflict? Are you able to constructively listen to criticism and suggestion from the parent?

One suggestion for defusing face-to-face discussions is to try working on the essay over email. Send your parent a draft, have them write you back some comments, and then you can pick which of their suggestions you want to use and which to discard.

Teachers or Tutors

A humanities teacher that you have a good relationship with is a great choice. I am purposefully saying humanities, and not just English, because teachers of Philosophy, History, Anthropology, and any other classes where you do a lot of writing, are all used to reviewing student work.

Moreover, any teacher or tutor that has been working with you for some time, knows you very well and can vet the essay to make sure it "sounds like you."

If your teacher or tutor has some experience with what college essays are supposed to be like, ask them to be your editor. If not, then ask whether they have time to proofread your final draft.

Guidance or College Counselor at Your School

The best thing about asking your counselor to edit your work is that this is their job. This means that they have a very good sense of what colleges are looking for in an application essay.

At the same time, school counselors tend to have relationships with admissions officers in many colleges, which again gives them insight into what works and which college is focused on what aspect of the application.

Unfortunately, in many schools the guidance counselor tends to be way overextended. If your ratio is 300 students to 1 college counselor, you're unlikely to get that person's undivided attention and focus. It is still useful to ask them for general advice about your potential topics, but don't expect them to be able to stay with your essay from first draft to final version.

Friends, Siblings, or Classmates

Although they most likely don't have much experience with what colleges are hoping to see, your peers are excellent sources for checking that your essay is you .

Friends and siblings are perfect for the read-aloud edit. Read your essay to them so they can listen for words and phrases that are stilted, pompous, or phrases that just don't sound like you.

You can even trade essays and give helpful advice on each other's work.

If your editor hasn't worked with college admissions essays very much, no worries! Any astute and attentive reader can still greatly help with your process. But, as in all things, beginners do better with some preparation.

First, your editor should read our advice about how to write a college essay introduction , how to spot and fix a bad college essay , and get a sense of what other students have written by going through some admissions essays that worked .

Then, as they read your essay, they can work through the following series of questions that will help them to guide you.

Introduction Questions

• Is the first sentence a killer opening line? Why or why not?
• Does the introduction hook the reader? Does it have a colorful, detailed, and interesting narrative? Or does it propose a compelling or surprising idea?
• Can you feel the author's voice in the introduction, or is the tone dry, dull, or overly formal? Show the places where the voice comes through.

Essay Body Questions

• Does the essay have a through-line? Is it built around a central argument, thought, idea, or focus? Can you put this idea into your own words?
• How is the essay organized? By logical progression? Chronologically? Do you feel order when you read it, or are there moments where you are confused or lose the thread of the essay?
• Does the essay have both narratives about the author's life and explanations and insight into what these stories reveal about the author's character, personality, goals, or dreams? If not, which is missing?
• Does the essay flow? Are there smooth transitions/clever links between paragraphs? Between the narrative and moments of insight?

Reader Response Questions

• Does the writer's personality come through? Do we know what the speaker cares about? Do we get a sense of "who he or she is"?
• Where did you feel most connected to the essay? Which parts of the essay gave you a "you are there" sensation by invoking your senses? What moments could you picture in your head well?
• Where are the details and examples vague and not specific enough?
• Did you get an "a-ha!" feeling anywhere in the essay? Is there a moment of insight that connected all the dots for you? Is there a good reveal or "twist" anywhere in the essay?
• What are the strengths of this essay? What needs the most improvement?

Should You Pay Money for Essay Editing?

One alternative to asking someone you know to help you with your college essay is the paid editor route. There are two different ways to pay for essay help: a private essay coach or a less personal editing service , like the many proliferating on the internet.

My advice is to think of these options as a last resort rather than your go-to first choice. I'll first go through the reasons why. Then, if you do decide to go with a paid editor, I'll help you decide between a coach and a service.

When to Consider a Paid Editor

In general, I think hiring someone to work on your essay makes a lot of sense if none of the people I discussed above are a possibility for you.

If you can't ask your parents. For example, if your parents aren't good writers, or if English isn't their first language. Or if you think getting your parents to help is going create unnecessary extra conflict in your relationship with them (applying to college is stressful as it is!)

If you can't ask your teacher or tutor. Maybe you don't have a trusted teacher or tutor that has time to look over your essay with focus. Or, for instance, your favorite humanities teacher has very limited experience with college essays and so won't know what admissions officers want to see.

If you can't ask your guidance counselor. This could be because your guidance counselor is way overwhelmed with other students.

If you can't share your essay with those who know you. It might be that your essay is on a very personal topic that you're unwilling to share with parents, teachers, or peers. Just make sure it doesn't fall into one of the bad-idea topics in our article on bad college essays .

If the cost isn't a consideration. Many of these services are quite expensive, and private coaches even more so. If you have finite resources, I'd say that hiring an SAT or ACT tutor (whether it's PrepScholar or someone else) is better way to spend your money . This is because there's no guarantee that a slightly better essay will sufficiently elevate the rest of your application, but a significantly higher SAT score will definitely raise your applicant profile much more.

Should You Hire an Essay Coach?

On the plus side, essay coaches have read dozens or even hundreds of college essays, so they have experience with the format. Also, because you'll be working closely with a specific person, it's more personal than sending your essay to a service, which will know even less about you.

But, on the minus side, you'll still be bouncing ideas off of someone who doesn't know that much about you . In general, if you can adequately get the help from someone you know, there is no advantage to paying someone to help you.

If you do decide to hire a coach, ask your school counselor, or older students that have used the service for recommendations. If you can't afford the coach's fees, ask whether they can work on a sliding scale —many do. And finally, beware those who guarantee admission to your school of choice—essay coaches don't have any special magic that can back up those promises.

Should You Send Your Essay to a Service?

On the plus side, essay editing services provide a similar product to essay coaches, and they cost significantly less . If you have some assurance that you'll be working with a good editor, the lack of face-to-face interaction won't prevent great results.

On the minus side, however, it can be difficult to gauge the quality of the service before working with them . If they are churning through many application essays without getting to know the students they are helping, you could end up with an over-edited essay that sounds just like everyone else's. In the worst case scenario, an unscrupulous service could send you back a plagiarized essay.

Getting recommendations from friends or a school counselor for reputable services is key to avoiding heavy-handed editing that writes essays for you or does too much to change your essay. Including a badly-edited essay like this in your application could cause problems if there are inconsistencies. For example, in interviews it might be clear you didn't write the essay, or the skill of the essay might not be reflected in your schoolwork and test scores.

Should You Buy an Essay Written by Someone Else?

Let me elaborate. There are super sketchy places on the internet where you can simply buy a pre-written essay. Don't do this!

For one thing, you'll be lying on an official, signed document. All college applications make you sign a statement saying something like this:

I certify that all information submitted in the admission process—including the application, the personal essay, any supplements, and any other supporting materials—is my own work, factually true, and honestly presented... I understand that I may be subject to a range of possible disciplinary actions, including admission revocation, expulsion, or revocation of course credit, grades, and degree, should the information I have certified be false. (From the Common Application )

For another thing, if your academic record doesn't match the essay's quality, the admissions officer will start thinking your whole application is riddled with lies.

Admission officers have full access to your writing portion of the SAT or ACT so that they can compare work that was done in proctored conditions with that done at home. They can tell if these were written by different people. Not only that, but there are now a number of search engines that faculty and admission officers can use to see if an essay contains strings of words that have appeared in other essays—you have no guarantee that the essay you bought wasn't also bought by 50 other students.

• You should get college essay help with both editing and proofreading
• A good editor will ask questions about your idea, logic, and structure, and will point out places where clarity is needed
• A good editor will absolutely not answer these questions, give you their own ideas, or write the essay or parts of the essay for you
• A good proofreader will find typos and check your formatting
• All of them agree that getting light editing and proofreading is necessary
• Parents, teachers, guidance or college counselor, and peers or siblings
• If you can't ask any of those, you can pay for college essay help, but watch out for services or coaches who over-edit you work
• Don't buy a pre-written essay! Colleges can tell, and it'll make your whole application sound false.

Ready to start working on your essay? Check out our explanation of the point of the personal essay and the role it plays on your applications and then explore our step-by-step guide to writing a great college essay .

Using the Common Application for your college applications? We have an excellent guide to the Common App essay prompts and useful advice on how to pick the Common App prompt that's right for you . Wondering how other people tackled these prompts? Then work through our roundup of over 130 real college essay examples published by colleges .

Stressed about whether to take the SAT again before submitting your application? Let us help you decide how many times to take this test . If you choose to go for it, we have the ultimate guide to studying for the SAT to give you the ins and outs of the best ways to study.

Anna scored in the 99th percentile on her SATs in high school, and went on to major in English at Princeton and to get her doctorate in English Literature at Columbia. She is passionate about improving student access to higher education.

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Don’t be afraid to compare prices. After all, saving money is the same essential, as saving your time. Essay writing service shouldn’t be way too cheap (if you don’t want your paper to be written by a person without proper education). Calculate the average cost per page, before making the order.

How cheap essay writing service should be? It depends on the type of work and the status of college you plan to be enrolled. For example, best educational institutions of the state are in high demand, so your work should be quite outstanding to be remarkable.

Are you ready to follow the path leading to a bright future? Don’t waste another minute, type “write my essay for me” and enjoy your 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

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How to Format Money in General Writing

By Erin Wright

Here are some basic guidelines for writing about money in general content. These guidelines are based on The Chicago Manual of Style (Chicago style) and The Associated Press Stylebook (AP style). Our other primary style guides have been excluded because they provide little to no recommendations for formatting money.

All the examples shown below are for U.S. currency. “ How to Write Euros and Pounds as Words and Symbols ” explains how to format euros and pounds and “ How to Write Non-U.S. Dollars as Words and Symbols ” explains how to format dollars outside of the United States, such as Australian dollars and Hong Kong dollars.

Dollars and Cents without Numerals

Spell out references to dollars and cents without numerals. 1

Lee didn’t mind paying a few more dollars to get his car waxed after it was washed.

The price of gas has dropped several cents in the past week.

Amounts of Money Less than $1

Followers of AP style should use numerals with the word cent or cents for amounts of money less than $1. 2

Why does the penny candy in the jar cost 12 cents instead of 1 cent ?

Retailers in Chicago must charge customers 7 cents per bag.

Other than isolated references, followers of Chicago style should use the cent sign for amounts of money less than $1. However, if the reference appears near another amount of money $1 or greater, the cents should be formatted with the dollar sign and numerals. 3

The pet store donates fifty cents from every sale to the local animal shelter. ( Isolated reference )

The dairy charges a 5¢ deposit per bottle.

The price of widgets has increased from $0.75 to $2.12 over the course of six months.

If you aren’t a strict follower of AP style or Chicago style, simply choose a style and follow it consistently throughout your document. Although I personally follow Chicago style, I prefer the AP’s recommendation for spelling out cent because the cent sign is not readily available on standard keyboards.

Check out “ Three Ways to Insert Currency Symbols in Microsoft Word ” to learn how to insert the cent sign in your Word documents.

Amounts of Money Greater than 99¢ but Less than $1 Million

Use the dollar sign and numerals for specific amounts of money great then 99¢ but less than $1 million. 4

This desk sells for $249 in New York and $239 in Chicago.

Our storage fee is $895.99 per month.

Exception: Followers of Chicago style can spell out occasional references to amounts of money that are whole numbers less than $100. 5

$1 Million and Greater

Simplify large numbers by spelling out million , billion , and trillion . 6 You can include up to two numerals after a decimal point, if necessary. 7

The equipment upgrades will cost $1.25 million over three years.

We bought this startup for $990,000 ; it is now valued at $2 billion.

Final Thoughts

Although not an official style recommendation from any of our primary style guides, you may also want to consider streamlining large amounts of money by using approximate whole numbers if your readers don’t need to know the exact figure.

The neighboring property is listed for more than $6 million . (Instead of “The neighboring property is listed for $6,120,595 .”)

Sales soared above $1 billion last year. (Instead of “Sales soared to $1,000,105,000 last year.)

Now that your money is formatted, find out if it’s singular or plural .

1. The Associated Press Stylebook 2020–2022 (New York: Associated Press, 2020), 90.

2. The Associated Press Stylebook 2020–2022 (New York: Associated Press, 2020), 48.

3. The Chicago Manual of Style , 17th ed. (Chicago: University of Chicago Press, 2017), 9.20.

4. The Associated Press Stylebook 2020–2022 (New York: Associated Press, 2020), 90; The Chicago Manual of Style , 17th ed. (Chicago: University of Chicago Press, 2017), 9.20.

5.  The Chicago Manual of Style , 17th ed. (Chicago: University of Chicago Press, 2017), 9.20.

6. The Associated Press Stylebook 2020–2022 (New York: Associated Press, 2020), 90; The Chicago Manual of Style , 17th ed. (Chicago: University of Chicago Press, 2017), 9.24.

7.  The Associated Press Stylebook 2020–2022 (New York: Associated Press, 2020), 90.

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How to Write a Great Essay: Tips from a Writing Major

As I start my last semester at Indiana Wesleyan University, I’m reflecting on all that I’ve learned from my classes and campus experiences.

By: Emily Dexter & Jake Hreha

As I start my last semester at Indiana Wesleyan University, I’m reflecting on all that I’ve learned from my classes and campus experiences. One of the biggest lessons has been how to write an essay – both more professionally and more efficiently. I’ve gleaned lessons from my coursework as an English and writing major, as well as from my work as a writing tutor in the  Marion campus writing center.

Essay writing can be challenging. Developing strong writing skills will help you be successful in your course work. To help you work through the writing process on your next assignment, here are some of my top tips for the essay writing process:

Focus on the thesis.

Almost every academic essay I’ve written for a class has required a clear thesis statement. A thesis is usually a one-sentence statement that encapsulates your argument. It’s often referred to as a “roadmap” for your paper and lets the reader know what to expect as they move through your paper. A fairly basic formula looks like this:

[The main point the essay is trying to make] + [Transition] + [Reason 1] + [Reason 2] + [Reason 3]

For example:

Online education provides college students with better learning experiences than in-person education because of increased flexibility, improved work-life balance, and the ability to focus on one class at a time.

In this example essay, the main point I’m arguing is that  online education provides college students with better learning experiences than in-person education . I have three reasons to back up this claim:  increased flexibility, improved work-life balance, and the ability to focus on one class at a time.  In the following paragraphs, I would address each of these three reasons, starting with the first one listed in the thesis and moving on from there.

Most professors will expect to find the essay’s thesis statement at the end of the introduction. Another tip is to understand the type of essay you are writing – is it an argumentative essay? A research paper? A set of persuasive essays? What is the purpose of the paper – to convince, to persuade, to inform, or something else? Make sure the thesis statement aligns with the purpose of the essay.

2. Plan it out – and find what works for you.

Prewriting, or planning out what you want to say in your essay, can make the actual writing a lot easier. Not everyone’s prewriting needs to look the same, though. If writing a formal essay outline works for you, that’s great! If not, there are plenty of other options you can try.

Here are some strategies to help kickstart your writing process:

• Create an outline with a topic sentence for each body paragraph.
• Write down the main points you want to cover in the essay.
• Set a timer and do some free writing. Get all your ideas on paper and then think about how to organize them.
• Use speech-to-text software to jot down ideas without even touching a keyboard.
• Make a bubble map or other visual outline.
• Talk through your thoughts with a friend or writing tutor.

It’s taken me time to figure out what works best for me when writing an essay. Trying to figure out the main points, paragraph structure, or introduction paragraph all at once can feel overwhelming. Breaking up the writing process can help you get started writing even without the entire essay planned out. If you’re feeling stuck when starting a paper, don’t be afraid to switch up your strategy!

Remember when you write an essay it's okay to have a first draft that looks totally different from your final draft.

3. Do your research.

Many academic essays require secondary sources. Good research can give your essay credibility and help to round out your argument. IWU students have access to a variety of resources through the  Jackson Library  – both at the Marion campus and online. The library’s database allows you to filter search results by type, date, and peer-reviewed status.

Make sure to avoid plagiarism and cite your sources correctly – both as in-text citations and in your works cited page. The IWU portal includes helpful cheat sheets on the MLA, APA, and Chicago citation styles on the  writing center’s page .

It can also be valuable to spend time researching the structure to use in your essay writing. Depending on if you are writing a five paragraph essay, an argumentative essay, or another form of college essay it is important that you start writing with the right structure in mind. This will impact your essay writing process including your conclusion paragraph, your body paragraphs, your transitional phrases, and more.

4. Revision matters.

Once you finish a draft, it can be tempting to submit your essay without taking any extra time for revision. But taking a second look at your paper can make a huge difference. Here are some tips for revising your paper:

• Read your essay out loud. This can help you catch mistakes you might miss while reading silently. You can even have Microsoft Word read your paper to you; just go to the Review tab and select “Read Aloud.”
• Have a friend read your essay. This can help you see what grabs the reader's attention and how the overall structure flows together.
• Double check that you’ve included smooth transitions between paragraphs.
• Watch out for  passive voice . The online  Hemingway Editor  is a great free resource that can help you identify passive voice along with other writing issues.
• Beware of  sentence fragments  and  comma splices . Writing in complete sentences will make your paper much more formal.

Overall, my best advice is to have confidence and find what strategies work best for you. I wish you luck as you embark on your next essay! To see all the resources available to IWU students, including access to Grammarly, visit our  Student Resources page .

( A completed essay ready to submit. )

Emily Dexter

Copywriting and marketing assistant, iwu-national and global.

Emily Dexter is currently a senior at Indiana Wesleyan University, where she majors in English and writing. She is passionate about all things literary, and in her free time enjoys reading good books, attempting new art projects, and exploring the natural world.

SEO Copywriter, IWU

Jake Hreha is a graduate of Ball State University, where he majored in advertising with a concentration in media presentation and design. He is passionate about design, and in his free time he enjoys cycling, traveling, and reading.

Defense Industry Veteran Clark Cully Named Tech Division Chair of Indiana Wesleyan University’s DeVoe School of Business, Technology, and Leadership

INDIANAPOLIS, Ind. – Defense and tech industry veteran Dr. Clark Cully has joined Indiana Wesleyan University (IWU) as the new Technology Division Chair of the DeVoe School of Business, Technology, and Leadership to bolster a deeper understanding and use of artificial intelligence (AI) and emerging technologies in the workplace. Dr. Cully

Marching Wildcat Practice Facility to be renamed in honor of former professor

June 17, 2024 (Marion, IN) - June 14, 2024 (Marion, IN) — Indiana Wesleyan University (IWU) has made the decision to rename the Marching Wildcats Practice Facility to Kindley Hall. This name change serves as a way of recognizing the unique contributions of former faculty member Dr. Carolyn Kindley and her

The Best Online Aviation Management Degree Program

June 6, 2024 (Marion, In)—Indiana Wesleyan University’s (IWU) Aviation Management Bachelor’s degree was named fourth in the nation by TechGuide, ahead of Purdue University and Auburn University, topped only by two Texas schools and one school in New Mexico. This makes IWU the top university with an

Wesley Seminary awarded grant money for Latino and Latina ministries

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Essay on Saving Money

Students are often asked to write an essay on Saving 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 Saving Money

Understanding the importance of saving.

Saving money is a crucial habit everyone should develop. It helps us prepare for unforeseen events, achieve financial goals, and secure our future.

Ways to Save Money

Benefits of saving money.

Saving money offers several benefits. It provides financial security, enables us to make big purchases, and contributes to a stress-free life.

In conclusion, saving money is a wise and beneficial practice. It leads to financial independence and a comfortable life.

Also check:

250 Words Essay on Saving Money

The importance of saving money.

Saving money is a vital life skill, especially for college students who are just beginning to navigate the financial world. Understanding the importance of saving and implementing it in daily life can pave the way for financial security and independence.

Why Save Money?

The primary reason to save money is to achieve financial security. Unpredictable life events, such as job loss, medical emergencies, or unexpected expenses, can create financial stress. Having a safety net in the form of savings can mitigate these risks. Moreover, savings can fund life goals like education, homeownership, or starting a business.

Strategies for Saving Money

Creating a budget is the first step towards saving. It helps to track income and expenses, revealing potential areas for cost-cutting. Next, establishing an emergency fund can provide a financial buffer against unforeseen circumstances. Investing is another powerful tool for saving. It allows money to grow over time, leveraging the power of compounding.

The Role of Discipline and Consistency

Saving money requires discipline and consistency. It’s important to regularly contribute to savings, even if the amounts are small. Over time, these small amounts can accumulate into significant savings. It’s also crucial to resist the temptation of unnecessary spending and to prioritize long-term financial goals.

In conclusion, saving money is an essential skill that can lead to financial security and the ability to achieve life goals. By budgeting, creating an emergency fund, investing, and practicing discipline and consistency, college students can lay a solid foundation for their financial future.

500 Words Essay on Saving Money

Introduction.

Money, the lifeblood of modern society, is a central aspect of our lives. Its management, particularly the act of saving, is a crucial skill to master. Saving money is not just about accumulating wealth; it’s a strategic practice that promotes financial security, fosters discipline, and cultivates a sense of responsibility.

The importance of saving money cannot be overstated. It provides a safety net during unexpected circumstances like medical emergencies, job loss, or sudden large expenses. In addition, it can help fund significant life events such as higher education, buying a house, or retirement.

Moreover, saving money can lead to financial freedom. It allows us to make investments that can generate passive income, ultimately leading to a more comfortable and secure future. It’s not just about having money; it’s about the freedom and peace of mind that come with it.

Another strategy is automating savings. By setting up automatic transfers to savings accounts, we can save money without even thinking about it. This not only ensures regular saving but also reduces the temptation to spend.

The Psychological Aspect of Saving Money

The act of saving also fosters a sense of responsibility. It makes us more aware of our spending habits and encourages us to make smarter financial decisions. Moreover, it can boost our confidence and self-esteem, knowing that we are taking control of our financial future.

In conclusion, saving money is a vital skill that everyone should cultivate. It’s not just about accumulating wealth; it’s about ensuring financial security, gaining financial freedom, and fostering personal growth. By adopting effective saving strategies and understanding the psychological aspects of saving, we can make informed decisions that will benefit us in the long run. Remember, every penny saved is a step towards a more secure and prosperous future.

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

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Writing Essays for Money: A Guide for Aspiring Freelance Writers

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Are you looking to make money from your writing skills? One of the most popular—and increasingly in-demand—ways to do so is by writing essays for money. With online writing services on the rise and more students and professionals turning to them for help with their work, there has never been a better time to become a freelance essay writer. But before you jump into this career path, it’s important to understand what it entails—including the challenges and ethical considerations. 

The Essay Writing Market: An Overview 

The essay writing market is a unique and ever-growing sector. As students, professors, and professionals alike become increasingly aware of the range of online services, so does the demand for these services.

In this section, we’ll look at the different types of online writing services, discuss the demand for academic writing services, outline the demographics of people who use these services, and explain the factors that drive the demand for essay writing services. 

Types of Writing Services Available Online 

There are many different varieties of online essay-writing services available today. These include custom essay writing services (where a customer can provide specific instructions and have a paper written specifically to their needs), editing/proofreading services (for those who need help with formatting or spelling/grammatical errors in an existing document), research paper writing services (which provide essays based on individual research topics), copywriting or rewriting services (where customers can submit existing documents which will then be rewritten for them), and resume/CV writing service (which provide job seekers with tailored resumes or CVs). 

Demand for Academic Writing Services 

The demand for academic writing has grown considerably over the past decade as students have become more aware of the availability of such services. This is especially true among college students seeking assistance with their coursework.

In addition to students, there is also growing demand from professionals looking to outsource their written assignments due to lack of time or expertise. As a result, this market has seen exponential growth over recent years. 

Demographics of People Who Use These Services 

The demographic makeup of those using essay writing services is quite varied. On one hand, you have college and university students who turn to these companies when they need help with their coursework; on the other hand, there are also professionals from all walks of life who are looking to outsource their written assignments due to a lack of time or expertise.

Most customers tend to be from countries where English is not their first language; however, there has been an increasing number of US-based customers over recent years. 

Factors that Drive Demand for Essay Writing Services 

One major factor driving demand for these types of essay-writing services is convenience – customers can easily find what they need without having to do all the work themselves.

Additionally, many customers feel more comfortable entrusting their assignment with a company than tackling it alone due to a lack of knowledge or experience in certain subject areas. Finally, affordability plays an important role in this market – customers want quality work but at affordable prices, which many companies are able to offer them through competitive pricing models and discounts. 

With so many different types available, ranging from custom essay writing to resume/CV service providers, it’s easy to see why this industry continues to expand each year as more people realize just how convenient it can be when they need help with written assignments!

Writing Essays for Money: A Path to Both Flexibility and Financial Security 

Are you looking for a way to make money that provides you with both flexibility and financial security? Writing essays for money may be the perfect job opportunity for you. This blog post will explore the pros of writing essays for money and how it can help you reach your career goals. 

Flexibility in Work Schedule 

One of the biggest advantages of writing essays for money is that it allows you to work when and where it’s convenient. Since you’re working remotely, there’s no need to worry about commuting or taking time off from a traditional job.

You can write essays whenever it suits your schedule, whether early in the morning, late at night, or even on weekends. Plus, being able to work from anywhere means that you don’t have to be tied down to one location; if you want to take a vacation or travel for any other reason, all you have to do is pack up your laptop and go! 

Ability to Earn a High Income 

Another great advantage of writing essays for money is that it allows you to earn a very good income. Depending on how much experience and expertise you bring to the table and how much demand there is in your chosen field, you can significantly increase your earning potential.

Plus, since most projects are paid per word or page written (or sometimes both), it is easy to track your income and ensure that you’re getting paid what you deserve. 

Opportunities for Professional Growth 

Finally, writing essays for money can also provide great professional growth opportunities. As an essay writer, you will be expanding your knowledge base through research and practice and working with new clients from various backgrounds who might have different perspectives on certain topics.

You’ll also get exposure to different writing styles, which can help improve the quality of your own work over time. And if the client has requested revisions on their project, this is another chance for you to hone your skills while still getting paid!  

By taking advantage of this unique job opportunity now, you will be able to open up new doors professionally and financially secure yourself in the process. Thanks so much for reading!

Making Money Writing Essays: The Pros and Cons 

Making money by writing essays sounds like a great way to earn an income. It can be an enjoyable, flexible job with the potential for a good return on your investment. But is it really worth it? Let’s look at the pros and cons of writing essays for money so that you can decide whether this type of work is right for you. 

Unclear Ethical Considerations 

When you write essays for money, you must consider whether this type of work is ethically sound. It can be difficult to decide whether or not you are doing something wrong by helping someone else cheat their way through school.

At the same time, some argue that if students are willing to pay for essays, why should they be prevented from doing so? Ultimately, it’s up to each writer to decide if they are comfortable writing essays for money. 

Plagiarism and Academic Dishonesty 

One of the most serious issues associated with writing essays for money is the potential for plagiarism and academic dishonesty. When students turn in work that isn’t their own, they lie about their capabilities and cheat themselves out of learning experiences.

This can lead to serious consequences such as expulsion or loss of scholarship opportunities. As a writer, it’s important to ensure that all papers are written from scratch to avoid potential plagiarism or dishonesty problems. 

Pressure To Meet Tight Deadlines & Produce High-Quality Work 

Another drawback of writing essays for money is the pressure writers face when it comes to meeting tight deadlines and producing high-quality work on short notice. While some writers may thrive under such intense conditions, others may find them overwhelming and stressful.

If deadlines and high-pressure situations aren’t something you feel you can handle consistently, then this type of work may not be right for you. 

Possibility Of Dealing With Difficult Clients

Although there are many benefits associated with working as an essay writer, there is also the possibility that some clients may be difficult or unresponsive when it comes time to pay up or provide feedback on a project.

In these cases, it pays to take proactive measures such as setting clear expectations upfront to avoid any misunderstandings. Additionally, having a strong contract in place can help protect both parties in case something goes wrong during the course of a project.                  

Ultimately, only you can decide if this type of work suits your lifestyle; however, understanding both sides will help inform your decision-making process before committing one way or another!

How to Write Essays for Money with Confidence 

Writing essays for money can be a rewarding and lucrative way to make a living. When you take on the challenge of writing essays for money, you take on the responsibility of delivering quality work that will satisfy your client’s needs. You should keep certain best practices in mind to ensure success in this endeavor. Let’s explore four key areas for success in writing essays for money. 

Ethical Considerations and Avoiding Plagiarism 

As a writer being paid to write essays, you must understand how important ethics are in any professional venture. As a paid writer, your job is to write words and create original ideas and content that reflects your client’s unique perspective.

You must avoid plagiarizing other people’s work at all costs, even if it means taking extra time or research to gather the information needed to complete an essay assignment. Not only is plagiarism illegal and unethical, but it can also ruin your reputation as a writer if discovered by your clients! 

Time Management and Staying Organized 

Time management skills are essential when writing essays for money because oftentimes, deadlines must be met quickly and efficiently.

That said, good time management skills should never come at the expense of quality work. So you must have systems that help you stay organized and plan ahead for any potential roadblocks or problems you may face while completing projects on time.

One great way to do this is by creating lists of tasks that need completing and breaking them down into smaller chunks so they can be completed quickly without sacrificing quality or accuracy. 

Maintaining Quality While Meeting Tight Deadlines 

When writing essays for money, meeting tight deadlines while still creating quality work can seem daunting; however, there are ways around this problem!

By researching topics thoroughly before beginning an essay assignment – such as gathering facts, relevant quotes, or statistics –you will save time during the actual writing process since much of the material will already be gathered beforehand.

Additionally, having someone else proofread your work before submitting it can also help catch errors or typos before they become issues with your client! Lastly, always make sure to double-check all sources cited within the essay against the original source material (if available), so accuracy remains paramount throughout the entire project from start to finish.  

Building a Positive Relationship With Clients 

Writing essays for money requires more than technical know-how; it also requires maintaining positive relationships with clients over time so they can trust your abilities as a reliable writer who consistently produces high-quality work.

To build strong working relationships with clients over time, stay communicative throughout each project—from initial contact through completion—and provide regular updates whenever necessary so everyone stays on track toward meeting deadlines without sacrificing the quality of output in the process.

Additionally, having open lines of communication allows both parties involved in an essay assignment to discuss any revisions or changes needed before submitting final drafts, which helps ensure total satisfaction with each project! 

Where to Write Essays to Make Money

Writing essays for money is a great way to make extra income. Many websites offer freelance writing services where you can write essays and other types of content for clients who need them. You can also find opportunities to write essays for money on job boards and freelance marketplaces. Before taking on any project, it is important to research the client and make sure they are legitimate.

Are you looking for places to sell essays?

Here are 10 great options:

• Fiverr : Fiverr is a great platform for freelancers to offer their services, including essay writing.
• Upwork : Upwork is another popular freelance platform where you can find clients who need essays written.
• Guru : Guru is a freelance marketplace that connects businesses with professionals, including those who write essays.
• Freelancer : Freelancer is an online job board that allows freelancers to bid on jobs, including essay writing projects.
• PeoplePerHour : PeoplePerHour is a website where freelancers can find work, including essay writing jobs.
• iWriter : iWriter is a content creation platform that allows writers to create and sell essays online.
• Textbroker : Textbroker is an online marketplace for writers to create and sell content, including essays and other academic papers
• EssayShark : EssayShark is an online platform where students can get help with their essays from professional writers
• StudySolver : StudySolver offers students the opportunity to get help with their essays from experienced writers
• WritersDepartment : WritersDepartment provides freelance writers with the opportunity to write and sell essays online

Finding legitimate freelance essay writing jobs can be a challenge. Fortunately, there are a number of websites that offer opportunities for writers to find work and make money.

The future of the market for online writing services is looking bright. With more businesses and individuals turning to the internet for their content needs, the demand for quality writers will only increase. As technology continues to advance, so will the opportunities available to freelance writers willing to put in the time and effort necessary to create high-quality essays for money.

Therefore, if you want to make some extra cash with your writing skills, consider joining the growing market of freelance essay writers who are seeing success and making money through their work!

What Does It Mean To Take Inspired Action?

Is writing for a living possible exploring the reality.

When it comes to writing, Willow Tenny is a true pro. She has a wealth of experience in SEO copywriting and creative writing, and she knows exactly what it takes to produce quality content. On her blog, Willow Writes, Willow shares top writing strategies with both beginners and experienced writers.

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How much do you need to know about how your spouse spends money? Maybe less than you think

Associate Professor of Marketing, University of Michigan

Disclosure statement

Scott Rick received a grant from the Russell Sage Foundation for the joint/separate account experiment described here.

University of Michigan provides funding as a founding partner of The Conversation US.

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Love is in the air, and wedding season is upon us.

Like many elder millennials, I grew up watching sitcoms in the 1980s and ‘90s. Whenever those series needed a ratings boost, they would feature a wedding. Those special episodes taught me that weddings usually involve young lovebirds: think Elvin and Sondra from “The Cosby Show,” Cory and Topanga from “Boy Meets World,” or David and Darlene from “Roseanne.”

But those were different times. People are getting married later in life than they used to: In the United States, the median age of newlyweds has grown to 28 for women and 30 for men.

This trend means that many Americans now enter marriage after being self-reliant for several years, including managing their own money. Will they be eager to change that once they get married? Don’t count on it. A 2017 Bank of America survey suggests that millennial married couples are around 15 percentage points more likely than their predecessors to keep their finances separate.

This is not necessarily a good development. As a behavioral scientist who studies money and relationships , I find that joint accounts can bring partners closer .

There are some risks, however. Joint accounts create transparency, and intuitively, transparency feels like a good thing in relationships. But I argue that some privacy is important even for highly committed couples – and money is no exception .

The newlywed game

Behavioral scientists Jenny Olson , Deb Small , Eli Finkel and I recently conducted an experiment with engaged and newlywed couples . Each of the pairs had entirely separate accounts, but they were undecided about how they wanted to manage their money moving forward.

We randomly assigned each of the 230 couples to one of three groups. One group kept their money in separate accounts; one merged their cash into a joint account and stopped using separate accounts; and one managed their money however they liked.

We followed couples for two years, periodically asking them to complete surveys assessing their relationship dynamics and satisfaction. Our relationship quality measure included items such as “I cannot imagine another person making me as happy as my partner does” and “Within the last three months, I shouted or yelled at my partner.”

Among the couples who could do whatever they wanted, most kept things separate. They and the couples assigned to keep separate accounts experienced a steady decline in relationship quality over time.

This is a fairly typical pattern. For instance, in a large study that tracked U.S. couples’ marital happiness for 17 years , sociologist Jody Van Laningham and colleagues found that “marital happiness either declines continuously or flattens after a long period of decline.”

Declines during the first two years of marriage are particularly important. Social scientist Ted Huston and colleagues call those first two years the “connubial crucible .” They find that relationship dynamics that develop during that crucial period can foreshadow relationship quality for many years to come.

Couples in our study who were prompted to take the plunge into a joint account, however, maintained their initial level of relationship satisfaction over the course of the two-year experiment.

Tit-for-tat

Our survey results suggest that, by turning “my money” and “your money” into “our money,” a joint account can help to reduce scorekeeping within a relationship. For example, we found that couples with joint accounts were more likely to agree with statements such as “When one person does something for the other, the other should not owe the giver anything.”

Relationships usually don’t start with a scorekeeping orientation. In the 1980s and ‘90s, psychologist Margaret Clark and colleagues conducted experiments where partners had the option of keeping track of each other’s contributions to a shared task. They observed that intimate relationships often begin with a “communal” orientation, where partners help one another without keeping careful track of who’s doing what.

Eventually, however, they take on more of an “exchange” orientation – where inputs are tracked and timely reciprocity is expected. Couples that manage to stave off a tit-for-tat mindset tend to be happier .

Too much of a good thing?

The data from our experiment with young couples clearly suggests that using only a joint account is better than using only separate accounts. However, I argue in my new book, “ Tightwads and Spendthrifts ,” that just a joint account is probably not optimal.

When partners use only a joint account, they get an up-close-and-personal view of how the other person is spending money. This kind of transparency is normally viewed as a good thing.

Some commentators argue that a healthy marriage should have no secrets whatsoever. For example, Willard Harley, Jr., a clinical psychologist who primarily writes for Christian audiences, argues that you should “reveal to your spouse as much information about yourself as you know : your thoughts, feelings, habits, likes, dislikes, personal history, daily activities, and plans for the future.”

In addition, if your goal is to minimize optional spending, research suggests that the transparency that comes with a joint account can be helpful. We spend less when someone is looking over our shoulder.

Still, there are reasons to believe that complete transparency can be harmful for couples .

Many people have become convinced that if they could just stop buying lattes and avocado toast, they could invest that money and become rich. Unfortunately, the underlying math is highly dubious, as journalist Helaine Olen points out in her book “Pound Foolish .” Still, many people view small indulgences as their primary obstacle to wealth. Complete transparency around these financially inconsequential “treats” can lead to unnecessary arguments .

Also, spouses may have different passions that their partner does not fully understand. Expenses that seem perfectly reasonable to another hobbyist may seem outrageous to someone without the proper context – another source of avoidable disagreements .

'Translucent,’ not transparent

I propose that many couples may benefit from a combination of joint and separate accounts.

A joint account is essential for ensuring that both partners have immediate and equal access to “our money.” Ideally, all income would be direct-deposited into the joint account, which would help to blur the gap between partners’ earnings. Conspicuous income differences can jeopardize relationship quality .

Separate accounts attached to the joint account can allow some privacy for individual purchases and help partners maintain a sense of autonomy and individuality. Each person gets to spend some of “our money” without their partner looking over their shoulder. Spouses would have a high-level understanding of how much their partner is spending per week or per month, but avoid the occasionally irritating details.

This kind of partial financial transparency – what I call “financial translucency ” – could help couples strike the right balance between financial and psychological well-being.

Of course, this approach requires a lot of trust. If the relationship is already on thin ice, complete financial transparency may be necessary. However, if the relationship is generally in the “good, but could be even better” category, I would argue that financial translucency is worth considering.

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A Reviewer’s Life

The material constraints of writing criticism today.

I have been a freelance book reviewer for twenty years, which means that several times a week, the postal carrier delivers packages of books—some that I requested, some that I didn’t know I wanted, and some that I won’t ever want. A year and a half ago I received in this manner a book that I did want, Darryl Pinckney’s Come Back in September, about his friendship and apprenticeship with the critic and novelist Elizabeth Hardwick. The front cover features a photo of Hardwick looking prim and elegant on the low steps outside 15 West Sixty-Seventh Street in Manhattan, where she lived in a top-floor duplex from 1961 until her death in 2007. On the back cover are two photographs of her dramatic two-story living room.

I often think about this room. Its ceilings appear to be twenty feet high. Next to the built-in bookshelves and requisite rolling ladder, swag curtains frame an enormous window, giving a the­atrical effect. A Juliet balcony gently interrupts one wall. Floating in the middle of the room is a writing desk, really a library table, from which a ceramic bust of a young man rises, like a gravestone, between two lamps. I showed the pictures to my husband once. “Oh,” he said. “She lived in the Morgan Library.”

My own desk is wedged into one corner of the bedroom I share with my husband, behind the children’s trampoline, between a hulking armoire and an ugly IKEA thing exploding with file boxes and rolls of scribbled-on paper that I really ought to throw away. Cairns of books are at my feet. If I turn my head just so I can glimpse a cluster of grocery bags brimming with toys and still more books, which I plan, someday, to sell or give away. Sometimes I pile the bags on top of each other to reduce their footprint, and when they threaten to topple, spread them out again.

What interests me about the photographs of Hardwick’s living room is that they provide evidence of the environment in which a brilliant and original mind worked. The couch on which she sat when she thought about Donne or Melville expressed a sensibility, but it also incubated one. On my way to my own desk, I catch a glimpse of the bags filled with crap. Whether or not I acknowledge it, the crap is always buried in the piece. Sometimes it rises right to the top.

criticism is an act of autobiography. The work of making an argu­ment, coming to a judgment, or simply choosing which books or objects to give time and attention to is inevitably, helplessly, an expression of values—and an expression of self. Our tastes tell on us as much as our syntax and tone; that mysterious compound called sensibility is formed by some strange alchemy of innate tendencies, life experiences, and material circumstances. In the pursuit of explicating a text, observing its patterns and structure, how it works, what it means, I also explicate myself—revealing what catches my interest, where my attention lingers. I might do this more, or less, intentionally, but I always do it.

Whatever is going on in the life of the critic is going to show up in her reading; it can’t not. Reading, writing, and thinking have experiential texture. The place and context in which I do those activities shapes them. Whether we are informed by political events or everyday life, it is not always possible, or desirable, to block out the noise of the world. When I write criticism, then, I try to use this fact of myself in some way. I might openly acknowledge why I am so invested in some aspect of a work. I might try to think through myself, pushing to arrive at a point at the very far edge of what I can see. I am a passionate adherent of close reading, the practice of being carefully attentive to words that are not our own. But close reading always involves the critic layering her own point of view over or next to the text’s, even as she observes, explains, interprets, evaluates. What I should not do is pretend that my reading is definitive, neutral, objective, or somehow free of myself and my environment. I write criticism to encounter an object, and I read criticism to encounter another person encountering an object. If I wanted a randomized controlled trial, I would be in the sciences.

There is something hopeful about writing a review. It’s like putting a mes­sage in a bottle or sending up a flare.

Of course, the money one is paid to write a piece is one of the material constraints that shapes the work of criticism. Word rates have not increased in decades, while the cost of living goes up every year. According to Cathy Curtis’s A Splendid Intelligence: The Life of Elizabeth Hardwick , beginning in the late 1990s Hardwick was paid about $4,000 per New York Review of Books essay—an amount com­parable to what writers are paid to write long book reviews today at a marquee publication like NYRB or The New Yorker . (Small publications pay much less.) Newspaper book reviews have been contracting for decades, and while magazines like The Nation and The Atlantic cover books, the hourly rate on a piece, once you do the calculation, is dismal. “Little” magazines and online reviews are wonderful for the culture, but no one could pay the rent writ­ing for those outlets alone. If you have a secure academic job and write reviews on the side, it’s nice work. For the freelancer—I am one—it’s a foolish undertaking. As Russell Jacoby noted nearly forty years ago, one reason there are not more full-time freelance writers is that most take staff writer positions or university jobs or quit writing altogether. It is impossible to know what ideas never came into the world because someone couldn’t or wouldn’t accept an hourly rate that barely covers the babysitter.

if the criticism I write is always limited by the fact that it is I who am writing it, bounded as I am by material constraints, it is also true that within that limit a profound freedom of thought persists. Sometimes when I read, I do have the sensation of blocking out the immediate physical world, journeying to an entirely different place, losing the sense of my body. It’s not just leaving myself behind that is freeing; it’s discovering myself. Writing a review is the best, maybe the only, way I can discover what I think. I don’t come to reviewing with my ideas already formed; I have to build them, sentence by sentence. For me, writing a review is a way of getting closer to an object, taking it apart to understand how it works. I get closer to and farther away from myself in the process, even as I know that I will inevitably ask questions that betray myself and my interests. The question I am most aware of asking has to do with point of view: I want to understand an object’s way of looking at the world. What would I have to believe about the world in order for this book to be true ? This is the kind of question I get most excited about asking.

Criticism is a relationship with an object, and as such it involves all of the regular psychic drama—idealization and fantasy; avoid­ance, hostility, and disappointment; the desire to know and a fas­cination with what is unknown; displacement from our own life onto the object. The person writing criticism has to always be on guard that the irritations and frustrations of writing do not get taken out on the object under review. Even pieces that begin in love and admiration can end in resentment and hate. I have noticed that after writing a review, I often lose interest in the author or resist reading their next book. If reviewing is a way to know something deeply, it’s also a way to say goodbye.

in the popular imagination , the critic is usually evil, sneering, vicious, or frustrated at their own thwarted artistic dreams. But the truth is, people who do this quite insane and marginal thing of writing criticism do it because they have a passionate attachment to literature. There’s little money or power in it, and no fame. Writing book reviews today is a vocation, not a career. It’s for people who still believe, against all practicality, that a life organized around lit­erature is worth more than a life organized around money. “Making a living is nothing,” Hardwick once wrote. “The great difficulty is making a point, making a difference—with words.”

I always say that I write for myself, to find out what I think or what I can do. But it’s also true that the main reason I write reviews is because people ask me to. Writing a novel that might end up in the drawer makes sense to me; writing a review that might end up there does not. Criticism is a conversation—with oneself but also with one’s editors, with readers, and with other reviewers. There is something hopeful about writing a review. It’s like putting a mes­sage in a bottle or sending up a flare. I’m at my little desk, trying not to look at the bags on the floor. Who knows where the person who will read the piece is sitting?

Louise Glück’s Late Style

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