Money Makes the World Go ‘Round

Money makes the world go ’round, as the old adage goes—but what does that truly mean? It means that money is a cornerstone of modern life, helping to drive decisions, purchases, and economic activity.

What We Buy and Why

What we buy, and why we buy it, changes with time.This is especially true when you look at different generations and different backgrounds. But despite differences in motivation, money is often at the root of the decision making process. Whether it’s a house, a car, the newest phone, or the latest fashion trend, money tends to be the main driving factor in the decision making process.

The Ways Money Influences Lives

Money affects our lives in many ways. It can buy goods and services as mentioned, but it can also bring security, freedom, and a sense of accomplishment. Money provides life’s necessities—such as food, clothing, and shelter—as well as life’s luxuries, like travel, entertainment, and indulgences. Money also brings a different level of respect and esteem from the people around us.

The way people want to use money and the way people want to be seen to use money are often at odds. There is a great temptation to try to keep up with the Joneses, which often means extended credit usage or loans to purchase items that normally wouldn’t fit within the budget. This often can lead to a cycle of perpetual financial struggle and distress.

Making Smart Money Decisions

Before you make a purchase using credit or a loan, consider whether the item is really necessary, and whether you can afford to pay it back in full. On the other hand, if you are looking to invest, consider whether the company or item is sound and reliable. Always remember that money makes the world go ’round, but it doesn’t define you—make decisions based on an understanding of your values, resources, and financial goals.

FAQ

Q: What does the adage “Money makes the world go ‘round” mean?
A: Money is often the primary driving force for economic activity, helping to make decisions and purchases.

Q: How does money affect our lives?
A: Money provides life’s necessities, such as food, clothing, and shelter, as well as life’s luxuries, like travel, entertainment, and indulgences. It can also bring a different level of respect and esteem from the people around us.

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