Why You Need Money & Importance of Investing

Money can’t buy happiness, but it can buy security and safety for you and your loved ones. Everyone needs money to pay for all the things that make life possible, such as shelter, food, healthcare bills, and a good education. 

You don’t necessarily need to be Aliko Dangote, Bill Gates, and Elon Musk etc. or have a lot of money to pay for these things, but you will need some money until the day you die.

Money is very essential because it gives you the chance to live a life you have always dreamt about or a life that puts you in control. Money gives you the financial freedom and options to choose how you want to live your life and support causes that are very important to you. 

Money gives you the chance to trade your work for things that you value. 

There are several major benefits of having money, which includes:

  • Freedom: You can choose to live anywhere, take care of your wants, and indulge in your hobbies when you have enough money. If you become financially independent and have the financial resources necessary to live on without working, you’ll enjoy more freedom since you’ll be able to do what you want with your time.
  • Power to achieve your Goals: Money permits you to start up a business, gets a dream home, pay the cost of having a family or achieve other objective you believe will help you live a better life.
  • Money provides Security: When you have enough money in the bank, you’ll never have to worry about having a roof over your head or about having enough to eat or about being able to see a doctor when you’re sick. This doesn’t imply that you will be able to afford everything you desire, but you’ll be able to enjoy a stable middle-class life.

Still when it comes to money and ensuring it doesnt dry out, one has to be smart with their money moves, working an 8am to 4pm or 9am to 5pm and getting a good pay at the end of the end of the month is good but the question is what do you do with your pay? Aside paying bills, getting few things for yourself or regular savings. 

Having a basic knowledge of personal finance, money is required to get goods and services that you need to survive. 

You must be wise with your money and save enough for the future to ensure that you will still have enough when you can no longer exchange your value for money or work too hard for money.

This is where investment comes in.

What is Investment?

 “Investment is an asset or item acquired with the goal off generating income or appreciation. Appreciation refers to an increase in the value of an asset over time. 

The intent is not to consume the good but rather to use it in the future to create wealth. Since money is important, it’s essential to plan ahead of time to ensure you will always have enough.

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