What is the Value of Money?
Value of money is different for each individual. The life given by God has a very special meaning or value in which people sometimes forget to thank either regret. If you look at it from the society’s point of view they believe people should be given value according to what they do and at what position they are. From an individual’s perspective, they judge themselves on what they have accomplished and achieved. Money is a big matter now a day.
If we go to literal meaning of value of money it varies person to person i.e.
What is value of money?
Someone consider Money is RESPECT
For someone Money is FAME
For some one Money is STATUS
Money is HAPPINESS
Money is EVERYTHING
And we have unlimited answers to this single question and all answers are correct. Because every individual has different social, economic conditions.
So to understand the value of money, I want to correlate the meaning of money to an individual with the value it comprises for that individual.Today I will share with you some real life phases and try to tell you that how the value of money changes when we actually live these phases of life. This is not universally applicable rule but it will describe 90 % of the people.
The first stage is basic needs. When we have money only to fulfill our basic needs of life like Food, shelter, cloth then the value for money for us is mere food shelter and cloths which full-fill our basic needs to survive. So at this stage, we can say that the value for money for us is food shelter and clothes. In this stage, we focus to fulfill our physiological needs that are the fundamental requirement of survival. At this stage, we can’t think beyond food, shelter, clothes. So the value of money at this stage is our basic needs nothing else.
The second stage is safety needs. When we are able to get money to full fill our needs and we have excess money after fulfilling our needs then we have entered in the most comfortable zone of happiness. In this phase, every individual is the most comfortable phase of our life. Then we progress in the way of safety for our future. So here the value of money for us safety,
I will name it the societal phase because in this phase we have neither worry about basic needs nor safety needs. Our motto to earn money is the show-off. We start comparing our self with society. So hunger for money is more in this phase. This is the critical phase of our life because failure and sustenance in this phase could directly throw in the first phase of life which is basic needs. So this is the critical phase of our life.
Phase: This phase comes when we cross the third phase of life which is the hunger for money we land up in a phase where the money equalizes for us mere a paper. In this phase, we try to realize our worth from external or internal. So mostly we involve in social work to make this phase strengthen to progress our self toward self-actualization.
I will also discuss some sign that shows a positive self-esteem of an individual:
Ability to say no
Ability to see overall strengths and weaknesses and accept them
Negative experiences don’t impact overall perspective
Phase: This is the most critical phase of life and one the most beautiful phase of our life.A positive self Esteem leads yours toward self-actualization.
It is the stage where you do the best what you are capable of.
Value for Money:
I will share some characteristics of self-actualized people where you can relate it to the real-life scenario:
Embrace the unknown & ambiguous
Accept themselves with all their flaws
They prioritize & enjoy the journey, not the destination
At this stage people are insulated from external environment
They are motivated by the growth not by the satisfaction of need
Self actualised people have clarity & energy
They are not troubled by small things
These are the 5 phases of life and how the value of money changes from one phase to other. It will not always remain same for every individual. In the next blog, I will discuss how to manage money and share some important tips with you those will help you to manage money in an effective and controlled way. So keep on reading…..