Student’s names: Kenaniah Holmes and Luana joseph

Subject: English and communications 101

Topic: Essay Writing (Why money is important in our life today)
Teacher: Mrs. Charles
Culinary Arts
Date: 12/08/2018
 Why is money important in our life today

Money is powerful, some people kill and go to jail for it, some friends turn enemies over it, most
people would go out their way to obtain it. Therefore, money somehow runs the world or keeps
the world running one way or the other. We aren’t likely to forget that money is a necessity. It
enables us to have the basics of what we need to survive. Money is one of the most important
things in the world today, and without it we cannot survive.
Money has been part of human history for almost 3000 years. In today's society it regulates the
transaction of resources by placing a value on them. At the dawn of humanity, bartering was
used instead of money to purchase things. People used commodities such as; gold, copper, silver,
precious stones as time passed, man invented gold chains to be used for the purchase of goods.
According to “The Telegraph “the first known currency was created by King Alyattes. Countries
were soon making their own with specific values. Metal was used because it was readily
available, easy to work with and could be recycled. However modern day monetary systems are
primarily based on flat money which does not have intrinsic value. Money is one of the earliest
and most significant inventions of civilization, it is important to the development of trade.
Without it there is only barter, a relationship between two people each of whom has something
which the other wants, in a bartering system there are double coincidence of wants.
Money is often defined as any item or verifiable record that is generally accepted as payment for
goods and services and repayment of debts. Such as taxes in a particular country. For forms of
payment to be called money they must have certain features. These features are durability,
portability, divisibility, uniformity, limited supply and generally accepted. Durability of money
is that it can be used over and over again. Portability is that money must be able to go wherever
and be easy to transport as people travel. Divisibility deals with the fact that money must be
easily divided. Uniformity of money calls for a standardization of money so that it looks the
same.
Money has changed a lot since the days of shells and skins, but its main functions hasn't changed
at all. Money serves as a medium of exchange -- a store of value, and as a unit or medium of
exchange to facilitate transactions. Also, sometimes it is a standard of deferred payment. Money
allows us to provide things for our families, loved ones and friends, enhancing their life. It can
also It can help us achieve life’s intangibles.
Money essentially provides access to everything we want. It is the means of getting the things we
need and desire. When we do not have money, we have no means of taking care of our
obligations we either suffer or do whatever is possible to survive. It obviously doesn’t buy
happiness but the lack of it can sure bring misery because without money one is powerless and
can’t even exist without it.
 References

https://marketbusinessnews.com/financial-glossary/money/
https://www.cliffsnotes.com/study-guides/economics/money-and-
banking/functions-of-money
https://www.streetdirectory.com/travel_guide/161021/money_management/import
ance_of_money.html
https://www.telegraph.co.uk/finance/businessclub/money/11174013/The-history-
of-money-from-barter-to-bitcoin.html
https://www.investopedia.com/insights/what-is-money/