Money is a property, resource and an asset owned by someone or something. It is also a current medium of exchange in the form of bank notes or coins. Money is used as a medium of exchange. It is used for buying and selling of goods and services. If it were not for money goods would have been exchanged through barter trade which has many difficulties due to language barrier because money is not affected by the language barrier and a coincidence of wants.
Money is used as a measure of value because it acts as a standard measure and common denomination of trade. It is, therefore, a basis of bargaining and quitting f prices. It helps in developing efficient accounting systems. It is also a store of value because it can be saved, stored and retrieved. The value of money remains stable over time. Money is there for essential in one's life because you will not experience problems if you require a commodity or service.
To fulfill its various functions money has certain properties which include fundability and durability. It is supposed to with withstand repeated use and easily portable from one place to another. Its value should not fluctuate, and its unit must be capable of mutual substitution. The last property is cognizable which means its value must be easily identified. Know about apy formula here!
The importance of money to people is similar to that of food because you also can't survive for long without money. It helps in solving most problems in life because you will not be facing basic problems like water, food, and clothing. If you have money you also not face shelter problems because you will be able to afford a shelter and buy all the items for your comfort for example TV, air conditioners and other household goods. You can engage many servants if you wish to take care of you like a king because of money. Know about compound calculator here!
To get this money, you have to work hard and compete with other human beings hence it has helped in the development of the society. When you have money make sure you use properly to prevent financial problems from occurring by making a budget that you will be able to abide by. It is important to put some in the saving accounts which will help you in the future if you have a business or any other activities that require you to use the money. To learn more about money, visit http://www.ehow.com/how_2094420_choose-financial-advisor.html.