Value Of Money
Many people mistakenly think that they would be happy if they had a million ringgit. They think that having more money will solve all their problems. On the contrary, it has been found that being wealthy can actually rob you of your peace of mind.
In our time, possession of cash currency differentiates the rich from the poor, the developed from the developing, the global north from the emerging global south. Money is both personal and impersonal and global inequality today is linked to the formalization of money as a measure of societal well-being and sustainability.
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Rich people suffer from more stress, anxiety, suspicion and unhappiness. Somewhat ironically, wealthy people seem to understand this best. If you look at the habits of successful people, many of them revolve around diet, exercise, meditation, and taking time out for friends and family. They understand that they cannot reach the peak of productivity in their money-making ventures without taking care of their health.
Researchers analyzed more than 450,000 responses to the Gallup-Healthways Well-Being Index and looked at two components of subjective well-being. They defined emotional well-being as how often and strongly respondents felt things like joy, stress, sadness, anger and affection on a daily basis. Alternately, they fatique characterized life evaluation as how people think about their life overall. They found that a person’s income affects the two dimensions differently, with higher life evaluation correlating with higher income.
Even as currency continues to evolve in our digital age, its uses today would still be familiar to our ancient predecessors. Despite the long list of limitations, the barter system has some advantages. It can replace money as the method of exchange in times of monetary crisis, such as when a the currency is either unstable (e.g. hyperinflation or deflationary spiral) or simply unavailable for conducting commerce.
- Wealth becomes important because of the purpose of wealth itself.
- It is why we need to be wealthy that really gives it true importance.
- Knowing that we can be loved exactly as we are gives us all the best opportunity for growing into the healthiest of people.
- Yet, money and wealth seem to have always had a bad reputation.
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It can also be useful when there is little information about the credit worthiness of trade partners or when there is a lack of trust. While a modest income may be all that a person needs for a feeling of emotional well-being, there’s a difference between being rich, and really rich. Researchers have found that when it comes to people who are loaded, those whose wealth exceeds $8 million are happier than run-of-the-mill millionaires. And people who make their own money are more satisfied with their lives compared with those who inherited their affluence.
And while emotional well-being also rises with income, it caps at around $75,000, after which point it doesn’t rise with more money. And looking at the other side of the spectrum, low income–which can be linked to divorce, ill health and loneliness–increases emotional pain. Wealthy people, by contrast, can feel confident about handling anything from a house fire to a prolonged job loss. Obviously, there are some wealthy people – the Donald Trump types – who do like to live a flashy lifestyle, with the finest clothes, cars, and food money can buy. But there are others – the Warren Buffett types – who prefer to focus on other, less tangible benefits of wealth.
How The Value Of Money Is Determined
However, for a person who is wealthy but ill, even the best medical care that money can buy may not guarantee the return of that person’s health. This fact alone is sufficient to support the view that wealth is less important than health. However, if you could only have one, which is more important? It is my opinion, health wins hands down.Firstly, health is more important than wealth because if you are physically fit, you will have a sense of well-being.