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.
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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.
- 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
What if the concept of money was not there?
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
Is money good or bad?
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.
Why can’t governments just print money?
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.
What are the different types of money?
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.