Essay on Money: Money was invented as early as 5000 BC in Europe. Previously, the barter system was used to exchange goods and services for products. Money helps us to buy things and commodities and earns respect and dignity in social life. Money as a factor gives financial stability and creates great opportunities for mankind. The government collects money from its citizens in the form of taxes.
Essay on Money 500 Words in English
We have provided Money Essay in English, suitable for class 3, 4, 5, 6, 7, 8, 9 & 10.
Money is a good used to buy goods and services and is an essential commodity for survival. It is in the physical form of coins, notes and cheques. Also, the assets, property and resources owned by someone is a form of money.
Evolution of Money
A barter system was introduced to exchange goods and services during ancient times. For instance, a tool was exchanged for clothes or food item. It seemed pretty straightforward, but the trade was supposed to fulfil both the parties’ needs or else it would not occur. Then in 600 B.C the coins were minted and used as the official currencies of many countries. The pioneers who invented coins were from the kingdom of Lydia in Turkey. These coins were made of metals like gold, silver, bronze etc. They were round and flat and easy to carry.
The kings and queens stamped pictures of themselves or their gods and goddesses which acted as the denominations and provided an identity to the kingdom. Greeks made more significant coins and believed that coins had magical powers. Romans stamped their emperor’s picture to make him famous. Paper money was invented by the Tang Dynasty in China during the 7th Century. Paper money was lightweight, foldable, and portable because of its bigger size pictures, denominations and names were printed easily.
Impact of Money on Human Life
Everybody dreams of becoming rich in terms of financial status and improve their standard of living. It affects our behaviour to a larger extent and alters our time and effort. Any work or task which guarantees money is always done faster and in a better way. Money cripples our values like empathy and compassion. We tend to become more and more materialistic.
Ego and attitude take over, and an individual starts displaying harsh and aggressive behaviour. This results in hurting others by making disparaging comments about an individual’s personality or financial stature. Researchers have found that children and adults who belong to affluent background fall prey to drug addiction due to heavy pressure and negligence from parents. They are vulnerable and weak because of the lack of guidance and support. No one is present to correct them.
There is an absence of love and care, but money is available abundantly. So these children bully other kids into venting out their frustration and jealousy and end up being brats who lack moral ethics. Academically they perform poor, and their grades drop eventually thus paralysing their self-esteem and morale. Earning money and maintaining status becomes compulsive. This involves people who are addicted to gambling, eating, and shopping for luxurious and high-end brands.
Life becomes impossible to survive without the things as mentioned above. Fraudulent and immoral ways are adopted to satisfy these needless wants. Relationships get affected as the breadwinner gets trapped in money, making business thus ignoring his/her role towards the family. A wise old saying that money cannot buy happiness still holds relevance even today. Wealthy people show a high rate of depression and loneliness than the middle class and poor people. This is because despite having a tremendous amount of money, they are unhappy and sad.