Is Enough Money, Money Enough?

Money. How much is enough? Present time has created an impression that more the money more the happiness. Poverty makes a person inferior in this society, however clever, intelligent, honest and hardworking he or she may be. So, the young generation of the day has clear idea of being rich by earning more and earning at the earliest. So the question arises, how much money is enough money? Before giving the clear cut answer as I am certainly going to do – I would like to tell you the evolution of money.

Generations ago, there was no existence of money in any form. There used to be ‘Barter’ system back then. Things were exchanged for other things. People having grains, gave it to others for fruits, or say flowers, clothes and anything or everything. Only exchange for equal quantity of similar other things. Labour and skills of carpenter, blacksmith and many others were given things for free, for getting other skill or material in exchange. Barely fifty years ago in India, this barter system existed in villages. I have seen it. The value for things or skill was considered equal, which later on became unacceptable. The other method had to be thought of. Then came the “Commodity Money”. Initially, shekel, shells of cowry and then coins of gold and silver were used. After that the present day ‘paper money’ was invented in addition to coins of different value.

So what is the real use of money?

Its only use and value is as a medium of exchange as a unit of fixed value. Then it became unit for store and accumulation. More the money in physical form, you are rich and vice versa. This is the root of evils money brought. Let me quote what others have to tell and explain to us about money.

Pilar Griffin: Yes, I am rich. Not because of my bank balance, but because every day I receive and give more and more gifts, gifts of love, care, life, respect and friendship. At USA, most challenging thing is consumerism and by default materialism. People in general are compulsive buyers and often of the things they do not need.

Andrew Carnegie, the Steel King of America, said the administration of wealth is at least as important as creation of it.

J R D Tata has 12x12 sq ft room with two survival chairs, a small bookcase and a sofa. It was his office during day and bed at night. Why? He said, “It suffices me.”

Sujatha Paninjayath is very clear - “Power of money is better understood when you face the big scarcity of money”. Actually, at the end of the month you do not have any money, just because you lose track of how much you intend to spend and how much you end up spending.

Lady Dolkar of Amdo, Tibet migrated to Dharamshala, India tells – “In those days it was possible to live without money in a village. Because we grew food and made the cloths. If somebody needed help when we would build a house or get married or harvest the crop, everybody would be there. Only later, hatred entered in peaceful relations and money became a must.”

Lastly in the list is the most important here. Dr. S. K. Ramachandran Nair (Neurosurgeon, Trivandrum) tells, “Instead of possessing money, many in the world are possessed by money and become slaves to it.”

Actually wealth does not cling to those, whose destiny is to find “Richness in Poverty” wrote Rabindranath Tagore. Dr. Nair has experienced throughout the life, that strange are the ways money comes and goes. He concludes explaining - the richest man in the world is he who is content with whatever “destiny” has ordered as his portion of life and works diligently to engage him for benefit of his fellow beings.

The quantity of money you need varies with age. In childhood all you need is a chocolate, books and few toys to play with and you are happy. Then at young age, real thirst for money evokes and most of the times, no money is enough money. You have all the basic needs fulfilled – “Roti, Kapada & Makan” (the food, cloth and shelter), and yet want a heap of money to make a show of wealth. Now you need bigger and more houses, bigger and more number of vehicles and all that your neighbours, relatives and friends do not have. And nobody can help you here. Old age is an age of dependence, if not financially, physically and morally.

Plan to earn more money – it is a must.

• Work hard to get job with proper salary. You may change the job for better salary.
• Business and earning are not necessarily safe options, but taking risk and planning can be done.
• Planning investments in stocks, recurring accounts, buying home or land in plots, agriculture are great savings.

Mediclaim: Medical emergency costs rupees in thousands and mediclaim is the key security to this threat. Mediclaim amount should not be less than five lacks (as of today). The more, the better. 50,000 or a less is spent in a hospitalisation of a day or two. Beware, do not let the mediclaim expire; keep a reminder to pay the premium in time.

Life Insurance: Small amount of insurance with short duration of 10, 15 or 20 years may bring a fixed amount at the said time, but security of life comes with big amount like a crore or so. Both partners should have one with other being nominee.

Save Environment, Save Money: Pay attention to avoiding water and fuel wastage. Walk short distances, use bicycle. Save trees by conserving electricity. Don’t move outside the room without switching the light and fan off. Don’t keep the TV, video, computer on idle mode – switch them off properly. Use ACs only when must.

Addictions: Say no to health hazards, they save money in big amount.

• Say no to alcohol
• Say no to tobacco chewing
• Say no to smoking
• Say no to drugs

Expense of a cancer treatment, inconvenience and disfigurement to oral surgery are better seen in others, than oneself. Rs. 20 a day means Rs. 7300 a year and Rs. 146000 in 20 years, would go to 5 lacks and more, with recurrent interest.

I am not here to tell you about earning by corruption or other bad means of black money. I would not tell you about being saints, dons, sharp-shooters, bootlegger, spiritual guru or a temple owner to sell religion and earn crores of rupees. I am just telling you to earn maximum money during younger age with all the sincere attempts to do so. This financial discipline will bring economic independence.

After all this, still no money is enough money and to there are so many pleasures like love, friendship, empathy and respect that do not require any money. Dr. Nair rightly said ‘strange are the ways – money comes and goes’. The richest man in the world is one who is content with whatever destiny has ordered as his portion of life and engages himself for the benefit of his fellow beings.

Also read: Money, At 60