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Reviewed by Ibnujala
You might be familiar with the statement, “Money is not everything, but everything needs money”. Is it true? We guess it is true in all major aspects.
Imagine your life as a car. The various gears of this car represent education, health, happiness, financial independence, love, and many more things you need in life. The gearbox in the car sends power to every gear, but in life, this gearbox is money that ensures those gears are running smoothly.
Without money, challenges can become a never-ending story, and your life can get trapped in survival mode, without actually being able to enjoy it. Occasionally, a lack of money makes life miserable by restricting you from accessing basic needs like food, accommodation, education, and healthcare.
At the same time, money cannot be considered as everything that you need in life. Love, friendship, meaning, and health are as important as money. But even simple pleasures and happinesses, such as celebrating a birthday at home, vacations with friends, or a dinner with family, will require some money to make them possible.
So, money has a crucial role in life, aiding a smooth living. But at the same time, money isn’t everything, but everything needs money.
Are you a bit confused? Let’s sort it out through this article. Since money has such a strong influence, let’s understand why money is important, where its limits lie, and how to strike the right balance.
These days, money is not just a medium of exchange. In many ways, it is similar to a universal language that influences opportunities and access, no matter where you are.
Although at times silent, the presence and influence of money are undeniable in almost all the experiences and requirements in our day-to-day lives. Just think about it. How do you get a good education, healthcare, or even achieve your dreams and passions? In some way or another, money has an important role in achieving all these.
However, it is true that money can’t buy happiness, peace, and love. But doesn’t it help achieve these things more easily? Money can eliminate financial anxiety, offer stability, and grant you the ability to concentrate on achieving success and self-improvement, making life more enjoyable.
So, with sufficient income that meets all your needs, wants, and savings, you can lead a relaxed life, contributing not just for your survival but also for improving your living standards, quality of life, and skill enhancement.
Some of the major benefits offered by money are:
From day-to-day needs like food, shelter, transportation, and education to emergencies like diseases, unexpected vehicle repair, house renovation, and others, money is essential to fulfil our needs, offering a sense of financial safety and security.
This security not only provides ease of living but also enhances the mental peace and emotional well-being of individuals.
One of the major benefits of money is that it ensures financial freedom as well as liberty of choice. With sufficient money, you can decide whether you have to continue a conventional job, start a business, take a career break, or travel.
Moreover, it helps you decide when to retire and what to do afterwards without worrying much about the financial security of your job.
Money has the power to fuel your dreams and passions. As it offers financial security and freedom, individuals can try things they want in life and invest more time to achieve their passions and dreams, even if they do not fall under the conventional category.
But that’s not all. Along with financial backing, persistence, determination, and the ability to seize the exact opportunity are also essential to achieving dreams and passions.
As we have seen in the last section, money does offer various benefits in our everyday lives. However, this does not make money the sole guiding factor of life. Along with money, there are various other things in life, such as human connections, relationships, happiness, love, and more, that offer physical, mental, and emotional well-being.
Warren Buffett, America’s popular investor and philanthropist, had the opinion that even though money brings comfort, genuine happiness comes from important relationships. So, materialism, or the passion for creating wealth, can make money seem like everything there is to life, more than love, friendship, and values. But remember, it’s not always only about money.
As Greek philosopher Aristotle once mused, “Wealth is evidently not the good we are seeking, for it is merely useful and for the sake of something else.” Socrates, another Greek philosopher, also held that the essence of life is not material wealth. These eternal truths remind us that money is powerful, yet not everything.
Having a huge sum of money doesn’t necessarily make you rich. Without healthy relationships, purpose, or good health, life can often feel empty and irrelevant, despite how much money you earn.
So, true richness or wealth is when money, love, success, and contentment co-exist in life. Therefore, it is important that you find a balance between money and everything else in life. Here are some steps to achieve that harmony:
Everyone has different priorities. So, the first objective is to identify your priority. For that, ask yourself what really matters to you. For some, it can be family or relationships; for others, it can be travel, health, or work.
Rank these and direct your resources accordingly. Success is not always in rupees or dollars but also in the profundity of your connections and experiences.
Set financial objectives that support life objectives. If your aspiration is to travel with family and friends, save for it and plan. As mentioned above, priorities differ for every individual. So, after identifying them, you should allocate your resources to your priorities and plan accordingly.
However, proper financial knowledge and strategic planning are required for finalising your financial goals. Platforms like FinQuo Versity, books like “Rich Dad Poor Dad” by Robert Kiyosaki and “Think and Grow Rich” by Napoleon Hill, online webinars, and courses can be utilised for financial knowledge and planning.
No wealth can ever substitute true human connection. Mahatma Gandhi embraced simplicity as part of his political and spiritual philosophy. For him, simple living was not just a personal lifestyle choice but a way to promote self-reliance, equality, and resistance to material excess. Similarly, the Tibetan spiritual leader, Dalai Lama, constantly reminds us that happiness lies in compassion, not wealth.
So, these leaders show that, along with wealth accumulation, prioritising and enhancing human connections are also essential.
Therefore, be around people who love you. Love and companionship are worth more than money, even in a capitalist and consumerist society. Nonetheless, healthy human connections and interactions are essential to improve the mental, physical, and emotional well-being of humans.
Wealth has its roots in health. Even the richest people on earth might feel that their wealth is useless without the resilience to be able to enjoy it.
Spend on healthy food, physical exercise, and preventive medicine. Sustainable habits also promote long-term health and discourage unnecessary consumerism. So, practice healthy eating habits, regular exercise, and periodic health checkups.
Invest more in memories than possessions. The Pursuit of Happyness is an inspiring movie that highlights how resilience, hope, and determination can lead to happiness, even in the midst of financial struggles. Although it is a film and a fictional craftwork, it reminds us that while money is necessary, inner strength and perseverance play an equally vital role in building a fulfilling life.
Moreover, minimalism is gaining more popularity in the modern lifestyle for a reason, as it eliminates distractions and allows individuals to prioritise experience, relationships, and values over consumptive excess.
This also shows that experiences make people wiser, foster emotional health, and add to their narrative much more significantly than mere wealth and possessions.
Money is not everything in life, but everything requires money to keep going.
There is no doubt that money guarantees stability, significant opportunities, and financial freedom. But true success is really in finding a balance between financial success, love, relationships, good health, and memorable experiences.
As Benjamin Franklin, a popular polymath and one of the founding fathers of the United States of America, profoundly put it, “Money never made a man happy yet, nor will it.”
In the end, avoiding family, health, or purpose in the name of money leads to isolation and discontent, destroying your life altogether. At the same time, disregarding financial wisdom may lead to various struggles and an easy target for never-ending anxiety.
However, remember money is not everything, but everything needs money. So, the secret is balance. By aligning your financial objectives with your personal values, living minimally where you can, cultivating relationships, and staying healthy, you can construct a life that is not only financially secure but also emotionally rich and deeply satisfying.
Uma Nair is a professional content writer with over 3 years of experience and a strong foundation in crafting engaging and informative content across diverse domains. Over the years, she has dealt with various niches, and her growing interest in finance has led her to explore the world of financial writing. As an English Language and Literature postgraduate, her educational background supports her ability to convey complex topics in easy and accessible content. In her free time, she stays updated on industry trends to continually enhance the value of her content.
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Ibnujala is a seasoned financial expert of Indian and Middle Eastern markets with an experience of over 15 years. His deep interest in neuroscience fuels his research in seamlessly blending finance and science. With a bachelor’s degree in law from India and an MBA from the UK, his diverse academic background makes him an expert in financial management and mentorship. In addition to being a seasoned investor and serial entrepreneur, he currently serves as the CEO of Finquo Versity.
Disclaimer: The information provided in this blog is for educational and informational purposes only and should not be considered as financial or investment advice. Stock market investments are subject to market risks, and past performance is not indicative of future results. Readers are encouraged to do their own research and consult with a licensed financial advisor before making any investment decisions. The author and publisher are not liable for any financial losses or damages incurred from following the information provided in this blog.
Uma Nair
