What is the importance of money in our daily life


We’re currently living in a world where life, happiness, education, business, and many other daily life activities depend on money. Money is one of the most important parts of life.

In this article on money, I am not going to look into the history of money. Instead, I mean to elaborate on current methods, systems, characteristics, and their importance. I will share what I observed and experienced about money personally and in my professional life.

I hope this will help you to understand the importance of money in our life. Why earning, saving, investment, money management, etc. are important in modern life or in our daily life.
Let’s get started:

Money is power if you utilize it with knowledge. Money is dangerous if you are greedy for money and utilize it without thought. – Vijay Sharma

Why money is important?

1. Money fulfills your personal and family needs and desires:

Money has the power to buy goods and services. With money, a person can fulfill his daily living needs and desires. With money, you can buy food, clothes, a home, a car, holiday tour packages, and gifts. With money, you can buy a high-speed internet connection and good quality equipment for work and business.

With money, you can buy entertainment products and services. With money, you can buy or fulfill daily life needs such as food, clothes, and shelter, and you can also build income sources for those who are not able to afford or earn money.

With money, you can buy anything living or nonliving thing that is for sale. Even many political leaders and government employees, media, and many others sell themselves, and their integrity for selfishness and for the greed of making money.

It’s because everyone thinks those who have more money will be more powerful and have more chances of happiness for themselves and family. But with money, you can buy a home but not peace. Money will increase your friend list but you can’t find faith and loyalty in them. You can be rich in your village but it a be possible that no – one even likes to say good morning.

When you have the money, you will get more loan offers from the bank. You will get offers to buy new houses, cars, property, and many more things. It’s because you have the money. And all of these things are status symbols in the modern educated society.

While all of this status and your reputation are fake. If you want to test, say to someone that you don’t have money right now or ask someone for credit, then you will get the proof.

The value of money is also known when you have to pay car and house loan installments and at the same time, you have to shop for your kids or for festivals.

Money is really important in our daily life. It’s very important to earn and save money for the family, kids’ education, and daily needs. And to live with good living standards you need to earn, save, manage, and invest money.

2. Importance of money in the family and social responsibilities:

Education is now treated as a business or industry. It’s not easy for common men to educate kids to provide high-quality education. Even if it’s free to get an education online, still the level of expertise and training that student needs will never be possible online.

Education is commercialized. It’s for those who have money.

Those who have money can afford to admit their kids to IITs, IIM, Harvard Sandford, yale, and many other high profiles and popular colleges and schools.

In this category, you will find that politicians, ministers, celebrities, and rich businessmen provide high-quality education to their kids by admitting them to high-profile colleges and education environments.

While the middlemen and low-income level government, private employees, and common men are not able to educate their kids the way rich people educate. Why?

Obviously, money is the biggest reason.

But even studying in a high-profile school or college is not a guarantee of success and knowledge.

But whatever you say, even during the covid-19 pandemic, not all parents were able to afford the online education system. Not all had costly mobile phones and internet connections. They did not have money for these sudden increases in expenses. And the pandemic also reduced their income.

When the poor students or common men and their kids do not get good quality education, then how they will get developed?

They never are able to improve their living standard. They remain poor even after earning enough money.

It’s because economics, education policies, and many other things are decided by rich and powerful people and their kids.

It’s called capitalism. The common man can only ask questions, strike, and agitate. Even this permission has to be taken. But the process of overruling the decision of the government is not that easy. Single Common Men don’t have that much confidence and knowledge about the subject.

While there are exceptions as well in many fields. Where someone got success and richness after starting from a poor financial condition.

But still, the gap or differences are big between the respect, policies, living standard, and career development scope between low and high-income people, communities, and groups.

While in the other side of the coin, those earning good income or having higher income are more stressed, insecure, and in bad health than those earning low. Money is important but how you use it, when you use it and where you use it will impact its output.

So, the point is you need to have money to study. Schools and colleges’ business models do not work without higher fees. Even you need money to buy good education services online or to join costly degree programs.

That’s why money is important.

But even if you aren’t able to get the education you deserve doesn’t worry. A degree or certification or commercial education is not the only way to do things that you want to do in life. There are millionaires and billionaires who are college dropouts or do not have degrees or any other formal education.

Don’t sell your honesty and integrity just to earn money so that you educate your kids. But always be aware of the growth opportunities and invest your time and money in things that increase your income.

And also keep in mind that the education you will take or give to your children with money earned from corruption, deceit, and fraud cannot produce knowledge and peace. Ignorance will surely arise. You will definitely find such examples in the world around you.

Only honestly earned money will make you or your children more knowledgeable, happy, wealthy, and virtuous. Whether education is in Hindi, in a government school, abroad or at home.

That’s why money is necessary but honestly earned.

3. Having savings and bank balance provides a sense of security:

There are thousands of people who don’t do savings. And one of the reasons is they are left with no money after food, home, school fees, and shopping.

While even those earning good income are paying car or home installments, and are not able to save enough for the sudden expenses.

When you have the saved income you will get confidence and security. That’s why it’s important to save. Saving a good portion of money before expenses is a good financial plan. Even if you save 2% of your income. But you must save.

Life is full of positive and negative events. In positive situations, you don’t have to become careless with money management. And nor do you have to be depressed in negative situations.

Money comes and goes. It’s a common thing. But you have to do one thing uncommon. That saves some amount before you spend on luxury or monthly expenses.

When you have saved money, you and your family can feel secure and confident.  While nothing is secure in this world. But at least you or your family have something to survive in difficult situations in life.

4. Money can be the reason for stress and depression:

Obsession with work with honesty, dedication, and patience is great quality. But most of the time many people become obsessed with money. They become hungry for money. That hunger never stops and they never become satisfied in life.

You know many people who have money but don’t have the freedom and time to enjoy that money. And many don’t have good health to enjoy that. And many wait for the retirement age to enjoy life.

While many decide to enjoy life when they become rich or when they have enough.

And all of these things become the reason for stress or exhaustion.

Many of those have income goals and when they don’t get that amount they become stressed and depressed. Setting goals are good. But becoming obsessed with the income goal instead of work is not a good thing.

When you put the effort into work when you put quality with consistency in the work you will get results.

This world or people who think that those who have money are the rich. But actually, they are not. Rich people only with money are not able to enjoy life. They are always worried and insecure about their life. Many rich people are even struggling to pay thousands or millions of dollars in bank loans.

People respect them for their money and reputation. But not for their integrity.

While many are honest and great entrepreneurs and leaders.

The real rich are not those who have lots of money. The real rich are those who have money as per need, time, and freedom to spend and enjoy it. You can’t compare the enjoyment. Everyone’s enjoyment and happiness can be different.

Those who have a $1000 monthly income are happy. And those who have 1000 rupees income are also happy.

Those who are happy, healthy, and enjoy every small or bigger moment of life are really rich. Money is important. But having money is not rich. You can have money from a bank loan or net worth. But that is not richness.

Even the richest people in the world donate their money to social and environmental causes. That’s a great thing. But have you thought about why they donate?

It’s because now they are bored with money. Money is not the reason now for the work that they do.

While it’s possible that in beginning they thought to become rich. And when they achieved their goals, they find that money was not the reason for happiness. That’s why they’re now donating millions to find some happiness and satisfaction.

The value of the donation is not counted by the amount. Even if you donate 10 rupees they are also equally valuable to $19999 dollars.

Donating money for good cause is always great. But don’t wait for the days when you have lots of money then you will donate.

If you’re earning 1000 rupees, and save 10 rupees each month for donation, then after a year you can donate 120 rupees. Even you can buy 1 or 2 notebooks each month or year for those who are not able to afford them.

5. Money is most important for the treatment of disease and good health:

Health is wealth. You can only enjoy wealth and richness if you’re physically and mentally fit. Without money, you can’t buy fruits and vegetables to boost your immunity. While Yoga is Free. But you also need a yoga instructor and health consultant. You can’t even take the 10 minutes of health experts without money.

An unlikely of you or any of your family members get any type of small or big disease then it’s almost impossible for the majority of people to get treated without money.

Many self-certified gurus can tell you that money is useless. Many people in society and during social activities showcase that money is nothing but just an illusion. Behind the scene, such people are making millions of dollars. But each day they lecture you on the illusion of money. Be careful about such education.

Why I am saying that? 

Go to the any bigger government hospital and see that there are thousands of patients waiting for their turn in line. In 100’s of lines, there are almost 10000+ people. The process and system are so much difficult to follow for uneducated and poor people. Even many due to the process do not go to the hospital.

But if you have money surely you will have a network or relatives in hospitals who can help you to not stay in lines for hours. And those who have money obviously have good networks.

Even if you get your turn through lines or get the doctor on the 15th day after registration in the hospital. You will get listened to and tested. And then you have to follow the process such as tests, reports and things etc.
And if the illusion or disease is bigger then you have to pay thousands of rupees or dollars money. Not everyone affords medicine from their income. So, people, who are poor have to sell their lands, and homes at lower prices due to compulsion. They love their children or family members and they don’t want to lose them. Both poor and rich people and animals, birds everyone love their family.

And practically you need to pay money for the medicines and all of the health treatment even if get a government hospital. That’s true!

All this is costly even for middle and lower-middle-class people of the society. Good hospitals are costly. It takes thousands of dollars to build and run hospitals. And if there are politicians and corruption involved in between then it will take years and double the amount of making a good hospital.
Still, even after building bigger hospitals poor people and their patients sit or sleep on the grass under the open sky outside the hospitals and roadside.
I can’t write any more about such conditions… sorry for that.

Can you think good health treatment is possible without money? Can doctors work without money? NO! Everyone has their own personal life, family, and social responsibilities. Everyone wants money from small children to senior citizens of society.

If do not have money please don’t get bad health. Be careful. Even if you have money still take care of your own and others’ physical fitness.

So the point is if you do not earn money, do not save money or invest money you even do not deserve to get the illness or disease. That’s why to live a happy, healthy, and impactful life you need money. You have to earn money.
Whether you earn money by providing your services as an employee or freelancer, you do online business or become a doctor or engineer or do any other work but make sure you get paid and paid well.

But always remember and try to earn money with honesty even if 99 people you know are earning through dishonesty. Do good have good.

So my point is very clear about money in life. It’s important to increase your capacity to earn money. It’s very important to work hard in your profession and it’s important to get paid or earn the money you deserve. It’s important to learn and earn honestly. It’s very important to save and invest money. It’s good to have income goals.

But it’s not good that you become obsessed with money and become depressed when not getting as per your expectations.

Manage and earn money practically but not emotionally. But when you can donate always donate. Whether it’s 1 rupee or 1000000.

And don’t compare your income and happiness with others. Your experiences are different than others. So enjoy life. Be the leader, fighter, and honest.


Money is important. Where money is important, there is no use for emotions. And where emotion or love is needed, there is no use for money. But having emotions and money is not enough. You also need awareness and knowledge about how to earn money and how to manage and multiply it well.

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