Essay about How Money And Its Effects On The World

Essay about How Money And Its Effects On The World

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Money. One cannot deny that money has its own unique importance in the day to day bustle of human life in today’s age and time. Even back before the dollar or any set currency was put into play to help regulate transactions, wealth was to be had. A person would be considered wealthy by their livestock or other items they possessed, and they could then in return use their items to barter with others in order to procure different things that they wanted or needed in their lives. Coming back to today’s day and age, bartering is not a means that can be used quickly and efficiently, thus enters currency. Bills and coins are used all over the world as forms of currency today’s global economy, but in some more modern cultures, a new player has entered into the game: the credit card. There are several debates and viewpoints of which form of payment is the overall better between cash or a credit card, but truth be told they both hold their own conveniences and can outweigh the other depending on certain circumstances.
Similarities amongst the two rivals of cash and credit cards more or less boils downs to their ability to make purchases. Both of the two allow a person to make purchases in a marketplace. Having either cash or a credit card gives a person the ability to trade for a good a service without the need to have anything physical such as livestock, but instead to be able to more easily use their card or cash as a medium of exchange. They allow a person to cut down the time needed to come up with an acceptable trade or offer and then have to go round up whatever the terms of the deal required. Using a card or cash, a person is allowed to bypass this time consuming ordeal, make a quick and snappy purchase, and continue with their day...

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..., and unless said person is very wealthy, having a minimal or non-existent credit history can be costly when it comes to major purchases such as cars or houses. Smart usage of the credit card should also be heeded, as just as the credit card can boost a person’s credit, it can also have the same effect in a negative, lowering or even sometime ruining a person’s credit history.
In summation, money has different forms, and each differing form carries its own unique advantages and disadvantages. The advantages can depend on lifestyle, say a person traveling abroad a lot, or a person living in a local village. One should really consider themselves and their personal life and needs to figure out for certain which method would work better, or if a combined methodology would in fact be their better option for using the medium exchange of money to their fullest advantage.

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