Why Is Money Important?
Money is important in our lives. Without money, it is hard to buy the things we need or want. We use money every day, but do you know all the things we can do with it? Let’s learn about earning, saving, spending, borrowing, and giving money.
The first thing we do with money is earn it. People usually work to get money. They can have many different types of jobs. For example, some people work as teachers, doctors, or engineers. Others work in shops, factories, or farms. Some people become entrepreneurs and start their own businesses, like opening a bakery or selling clothes.
When you earn money, it is important to think about how much you need for your life. Earning money gives you the chance to pay for your needs, like food, clothes, and a safe place to live.
After earning money, it is a good idea to save some of it. Saving money means keeping it for the future. People save money for many reasons. Some want to buy something big, like a car, a house, a computer or a new phone. Others save money for emergencies, like paying for a doctor if they get sick.
You can save money in a bank. A bank is a safe place to keep your money, and it can even grow if you get interest. Saving teaches us to be patient and careful with our money.
We also spend money. Spending means using money to buy things or pay for services. Every day, we spend money on food, transport, clothes, and bills, like electricity or water. Spending money helps us enjoy life too. We can buy fun things like games, go to the movies, or eat in a nice restaurant.
But be careful! If you spend too much money, you may not have enough for important things. It’s a good idea to make a budget. A budget is a plan that shows how much money you have and how you will use it.
Sometimes, people need more money than they have. They can borrow it. Borrowing money means taking money from someone, like a bank, and paying it back later. When you borrow money, you often have to pay interest. Interest is extra money you give to the bank for letting you borrow.
Borrowing can help us buy expensive things, like a house or a car. But it is important to borrow only what you can pay back. If you borrow too much, it can cause problems.
Finally, we can give money. Giving money means sharing it with others who need help. We can give money to poor people, charities, or even to friends or family. Giving money is kind and can make people very happy. It is also good for the community. When we help others, we make the world a better place.
To sum up, money is important beause it helps us live our lives. It gives us food, a place to stay, and fun experiences. But we must learn how to use money well. It is important to earn it, save it, spend it wisely, and sometimes give it to help others. When you understand how to use money, you can make good decisions and enjoy life without worrying about running out of it.
What do we do with money?
- earn money
I work as a freelancer to earn money online.- work for money
Many people work for money to support their families.- save money
She tries to save money by cooking at home instead of eating out.- save up for something (save up for a car)
He is saving up for a car because he needs it for work.- spend money
I don’t like to spend money on things I don’t need.- pay for something (pay for food)
We have to pay for food before leaving the restaurant.- buy things
She enjoys buying things on sale to pick up a bargain.- cost money
Going to college costs a lot of money.- charge money (means to ask someone to pay money for a product, service, or activity)
The gym charges money for personal training sessions.- waste money
He wasted money on expensive clothes that he never wears.- borrow money
I had to borrow money from my parents to pay rent.- lend money
My friend lent me some money to fix my bike.- owe money (owe money to a friend)
She owes money to a friend who helped her last month.- give money
He gave money to his younger brother for school supplies.- donate money
Many people donate money to charities during Christmas.- help others with money
He always helps others with money when they are in need.- share money
They shared their money to buy a birthday gift for their mother.- raise money
The school is raising money for a new playground.- collect money
The community collected money to help a family after the fire.- manage money
It is important to learn how to manage money wisely.- budget money
She budgets her money carefully so she can pay all her bills on time.- invest money
Many people invest money in real estate to make a profit.- lose money
He lost money because he made a bad business decision.- be short of money
I can’t go on vacation this year because I am short of money.- run out of money
We ran out of money before the end of the month and had to borrow some.
Money Is Important: Discussion
- How do you think people can earn money?
- What kind of jobs would you enjoy doing to work for money?
- Do you think it’s easier to save money when you are young or older? Why?
- Have you ever had to save up for something special? What was it?
- What is the most expensive thing you have ever bought?
- When was the last time you paid for something that made you happy?
- Do you think people sometimes spend too much money on things that cost money but aren’t necessary? Why?
- Why do you think some businesses charge money for things that could be free, like bottled water?
- What is an example of a way people often waste money?
- Have you ever had to borrow money from a friend or family member?
- How do you decide whether to lend money to someone?
- What would you do if someone owed you money but didn’t pay it back?
- Do you think it’s important to give money or donate money to charity? Why or why not?
- If you had a lot of money, how would you use it?
- Do you think families should share money with each other, or should everyone manage their own?
- What are some good ways to manage money and avoid overspending?
- Do you think it’s important to make a budget? Why or why not?
- If you had extra money, where would you invest money?
- Have you ever felt you were short of money? How did you handle it?
- What would you do if you completely ran out of money?
Read some interesting facts about money
- Money is used to pay for various goods and services. It is also used to measure and store value.
- Money usually takes the form of coins, banknotes and bank balances.
- There are a number of different currencies used in countries around the world.
- Many countries have their own currency, while some use a shared currency. An example of a shared currency is the euro used in the European Union by countries such as France, Germany and Spain.
- The currency most traded around the world is the United States dollar.
- The first metal coins were made around 600 BC in Lydia (now Turkey). They were made of a mix of gold and silver.
- Paper money was first used in China over 1000 years ago.
- Credit cards were first used in the United States in the 1920’s.
- Coins and banknotes are popular items for collectors, especially rare and old ones.
- Money is dirty! Studies show that banknotes carry thousands of bacteria, including dangerous ones.
- Today, over 90% of the world’s money exists only in digital form, not as physical cash.
Leave A Comment