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Why is money important?

Published on 26 August 2019
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5 minutes

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​​​​​​It’s all about the Benjamins, baby. Money is what affords us life’s’ pleasures, from a cocktail with friends to vacations with family. It’s also a necessity, paying for housing and buying our meals. Throughout our lives, we’re given so many messages about money, about how we should aspire to have more, yet how it also can’t buy us happiness. So how should we talk about money?

In this module you will learn

  • what money means 
  • that money itself is neither good nor bad. It’s just a means to an end, giving you independence and freedom to shape and enjoy your life! 

Why money is important

We all know that money is important. It’s been a key part of history, facilitating trade, starting wars, and funding innovation and discovery. The funny thing about money is that it’s probably one of the only things that we as people learned to grow just for the sake of growing it. We may not always understand the mechanics behind money (for instance, do you still picture a bunker of gold at Fort Knox backing up the value of US dollars?), but we know that we need it. And the higher the number in our bank accounts, the more comfortable we feel.

Instead of thinking about money as a number we need to add to, let’s think about it as a tool.

Money gives us independence, it provides protection, allows us to make new choices and a difference in the world.

Money itself isn’t good or bad. It’s just a means to an end, giving you and your family a better life and allowing you to contribute to the community.

Happiness is not the mere possession of money. It lies in the joy of achievement, in the thrill of creative effort.

US President Franklin D. Roosevelt

At the very least, we want to be comfortable in life, without having to worry about where our next meal is coming from. Beyond that, we want the freedom to make choices, to take different paths in life. We want to be able to spend, on ourselves and others, without concern.

We make a living by what we get, but we make a life by what we give.

Winston Churchill

Before we even talk about investing, we need to have an understanding of what our financial goals are, how to budget for them and how to plan our savings.

These are all core parts of being financially literate. It may be uncomfortable to talk about these things with friends and family, but discussing money can put our own financial habits in perspective and help us make intelligent financial decisions.

Money may not buy us happiness, but it can afford us the time to do the things we love with the people we love. That can’t be underestimated.

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Key takeaways and what comes next

You’ve now read about why money is important and how to look at it as a tool... and maybe thought about what money means to you, what frightens you and makes you uncomfortable when talking about it. If you feel it's complicated and you're under-confident with money, you are not alone... millions feel the same... but YOU are going to change all that with help from SmartPurse.

Here’s how: We'll be looking at the root causes of the problem, help with how you can think about money in new ways and what to do by changing some of your daily habits with a series of tools and mental tips... so let’s get going together! 

In our next module, we talk about The Tradition Trap and the fact that women hold a massive amount of financial power and what is needed to put this to better use. 

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