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This paper attempts to explain the importance of money in human transactions and shed light on the benefits and limitations of money. Money is an indispensable tool for trade and human interactions. Money or the multi-colored threads are woven into the fabric of our social, political and economic life is a powerful tool in a person’s hand. …
Money is normally used for our daily transactions. We need money to meet our basic needs. We have purchasing power if we have money. Parents use money to send their children to school or pay off stack of bills. Professionals land on jobs not merely for self-actualization but to primarily provide for their needs and those of those of their families. It is impossible to meet our obligations without the use of and certainty of cash flow. So, money in this sense is a necessity yet it can also be liability. When people first start getting a paycheck, they often see the next paycheck as the answer to all their problems. The next paycheck is conceived as bigger and promising. Thus, debts and expenses gradually pile up making the next paycheck unable to even settle the daily expenses. People have money problems when they take risks in the hope of a windfall.
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