Part 2: Why do we need to manage money?

Why is money important?

Apart from time, money is an essential resource that we will need for as long as we live. With money, we can buy the essentials and luxuries in life. We need money to pay for food, clothing, shelter and service. And without it, we couldn't get food.

Money is not everything

Some say that money isn't everything, and I agree. Money indeed isn't everything. There's more to life than just having money, but we must have money too to have options in life. For example, wouldn't you prefer to live in a comfortable home with its own garage, garden, toilet and bathroom, rather than live in a small space with shared toilet and bathroom? I would! If given a choice, wouldn't you want to send your children to the best school? Of course, you would! If unfortunately they became sick, wouldn't you want to send them to a private hospital with the best medical equipment and doctors, where they could get the best possible care? I'm sure you would too!

Money is not equivalent to happiness

Money too can't buy happiness -- I've met people who have millions in their bank account but every day they feel miserable because after working so hard for years to get that money, at the end of the day they do not have a family or someone special with whom they could share their achievement.

... Yet money is important

Like I said, money isn't everything but we need money to live comfortably and to have choices in life. The amount of money in our bank account will dictate our quality of life, and all of us always want the best out of life. It's only natural, because as we grow, we constantly want for better things. This is rooted to natural impulse of living. Like a seed growing to a plant, every day we must grow more and become more. Because, as the old adage goes, any person who stops growing is dead.

Having money helps us to grow and become And for us to grow, we require things to use. Do you want to become a
better piano player? Then read books or enroll in a piano lesson. Do you want to write better? Then rent or buy books so you can read more and improve your language skills. Do you want your kids to reach their maximum potential? Then let them try a lot of things so you would know where they are best at, may it be sports, music, art or anything! For all these things, we need money so that we can avail of the things that we need to improve.

Money is not evil

With these said, I hope you grasp the importance of money. Religion may teach you otherwise, but if you believe in a god, believe that the god wants what is best for you. And to attain your highest level of growth, god wants you to have a comfortable life. I don't believe that the god would like you to suffer. No one in their reasonable mind would wish this for you, because wishing such for you is tantamount to hoping that you would never grow, that you will retain whatever you have while the rest of the world goes on to become more and achieve more.

If it were true that god doesn't want you to have money for your sustenance and growth, it is directly opposite to what God has said through the parable of talents. You were given a life and talents, and if you choose not to harness them, they will be taken away from you. Money then, is important for us to have to help us in our path for growth. That is unquestionable.


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Next: Read about Part 3.1: The basic concepts of money management - cash assets liabilities.

Watch out for it!