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Business News/ Money / Personal Finance/  How much money is more money?
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How much money is more money?

Money serves as a means of trade, and we use it to buy things we need. Clearly, a person's financial sufficiency is determined by his or her interests and requirements.

How much money is more money is relative and finding an answer is incumbent upon each individual’s desires, ambitions, expenses and financial status. (HT_PRINT)Premium
How much money is more money is relative and finding an answer is incumbent upon each individual’s desires, ambitions, expenses and financial status. (HT_PRINT)

In today’s world, there is an increasingly high reliance on money and it is evident that everything we need and want is related to money. However, the amount of dependence an individual can have on money varies from one person to another. Also, their satisfaction with the money they have varies and it determines the concept of ‘more money’for that individual.

Let us consider an example to understand the concept of more money. For example, a man has a very average financial situation, owes Rs 1 lakh and needs Rs 5 lakh to improve his standard of living.

On the other hand, another man is relatively well-off and doesn’t need any significant money to improve his standard of living. In relative terms, the former might consider Rs 30 lakhs as a lot of money, but for the latter, the definition of more money would be profoundly different.

READ MORE: Managing money is crucial in everyday life; Here are 7 ways to do it

Undoubtedly, the concept of more money varies from individual to individual and it is barely definable. Every individual has different desires and expenses and thus, the amount of money needed would, for obvious reasons, differ.

Likewise, every person has a set of ambitions and a limited income to make that happen. So, the money one earns dictates the further requirement of money in their life.

It is known that money is a medium of exchange and thus we use it in order to purchase what is required. So, clearly, the sufficiency of money depends on the desires and needs of an individual.

There can be infinite desires of some individuals but are constrained by the availability of money. All such fulfilment of desires leads to a content life in which money defines happiness to a great extent.

Nevertheless, how much money is more money is relative and finding an answer is incumbent upon each individual’s desires, ambitions, expenses and financial status.

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Published: 16 May 2022, 05:26 PM IST
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