Michael Josephson Commentary
Josephson Institute  >  Commentary  >  The Value of Money 636.2

The Value of Money 636.2

Despite the advice of preachers and philosophers warning us of the shortcomings of money, it’s hard to argue with the much-quoted observation: “I’ve been rich and I’ve been poor. Rich is better.”

Although money is better at reducing suffering caused by poverty and relieving anxiety caused by debt than it is at making us happy, it can buy lots of things that make us feel good and important.

But wealth is not a certain road to happiness. A poor person with good relationships is much more likely to be happy than a rich person with lousy ones. And people who earn moderate wages but love their work are much more likely to be happy than those who earn a lot but hate what they do.

It’s easy to expect too much from money. Rich people have different problems than the non-rich, but they do have problems. Many are related to wealth, including shallow relationships, spoiled children, and continual pressure from relatives and friends who expect a handout. Rich people, as a whole, are not more content or emotionally satisfied than others and neither are their kids.

The problem is, people preoccupied with money are never satisfied. Often, their desires and debts grow faster than their means. The more they have, the more they think they need.

There’s nothing inherently wrong with material wealth or its pursuit, but there is a danger of paying too much to get it. As Rousseau said, “The money you have gives you freedom, but the money you pursue enslaves you.”

We shouldn’t disdain money, but we should put its value in perspective.

The moral: Focus first on forming deep and enduring relationships and finding work that makes you fulfilled. At best, money is the icing, not the cake.

This is Michael Josephson reminding you that character counts.

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Comments

It's true that money does not bring happiness, and it seems the rich are never satisfied, don't appreciate. Always wanting the best of the best brands, spending thousands of dollars on one outfit, never wearing it more than once, while the lower class suffers and makes the best of what they have and can afford.

I sincerely enjoy your show. Your messages ring loud and clear in my "HOUSE."

Having just completed facilitating a class of Dave Ramsey's Financial Peace University with his awesome lesson on giving, I concur completley with your understanding of the value of wealth. When we see money as a tool and not allow ourselves to get wrapped up in collecting stuff for the sake of having stuff, we are content. Our money will then give us the freedom to be generous and pursue the passions of our life.

Rich people always value money. Poor people with good relationships are more happy without money. Rich people have more problems with money. Rich people get poor because they spend all their money on things they don't need. Many people related to wealth their relationships shallow and they spoil their children. When rich people get money, they get happy.

Many people consider the rich the happiest kind of people around: A big house, many expensive cars, a family full of millionaires. Life couldn't possibly get better than that... right? Wrong. What people pay attention to is the rich's cars, house, clothes. However what they don't focus on is their personal life. For example, many people, even the rich, are on drugs, involved in a crime, have addictions, and many other things with a negative value. What I think of people like those are poor people. Rich at money, but poor at heart.
One really important thing is family. You can be richer that Warren Buffet, but if you do not have a good and loving family, you basically have nothing. What many people don't know is the dark side of money and greed. Money sometimes has the power to destroy a family, especially the rich's family. These are some examples of a family being torn apart: Brothers and sisters in a feud bickering over who inherits their mother's/father's money. A lady marrying a rich man and then abandoning him, as long as she gets her share of his money. Or even an already rich man forgetting about his wedding anniversary, forgetting about his child's birthday, forgetting about his family... only focusing his time to find out how to become even more rich. So you can easily say that if you don't have the basics of happiness (family), you have nothing, even if you do have a whole ton of money.

Basically I am supporting the quote: "Money can buy you almost anything, except happiness."

I am a rich and powerful man, living in a mansion by myself, sad and alone. How did I get so? I will tell you why. First me, my wife and kids used to live in a small farm house in Atlanta, Georgia. We were so happy together, doing stuff we never knew we would, but we were so happy being poor. One day when I was pulling out fruits, a man stopped by in front of my farm and got out of his car. He said he was a businessman who got lost and didn't know where he was. He then asked me for directions to the next freeway. I told him if he made a U-turn and then a 40-degree left turn, he would see the next farm coming up. Then you will make a 90-degree right turn and the freeway should be at the left side of the ramp. The man told me, "You sound like you know a lot about mathematics." I said, I was a big math freak in high school, but I had to drop out to support my then girlfriend (who's my wife now) and my child. He said, "I need someone like you to do some math decisions, more like a righthand man." I said, "That won't be a problem, but what about my family?" He replied, "They will have the best, staying in a five-star hotel." I said "Okay." I sold my farm and headed out with my family to a better dream. Within weeks, I was rich beyond my dreams. Months and months passed by and I wasn't satisfied. I kept working, working and working making all this money and keeping my family away. I didn't care about them anymore. Their needs weren't my thing. My wife repeatedly told me to cool down a little and be with them, but I just wanted to make more and more. One day I came home from a long trip and found my family was gone. I thought they were out for a shopping spree or something but they never returned. I got up in the morning and found a note my wife left me saying, "I warned you so many times, but you didn't listen. When you're ready to return to your family and become a husband and dad again, I'll be at mom's house." Thats when I realized money is nothing if you don't have love.

There are people in the world who do not have enough money. The rich people just can't have enough money. They don't care about anyone but themselves and money. But if you see people who need help with food stamps and other ways that the governor can help the people he could. So the people who don't have enough money try to help each other in the ways they can. The reason I know all this is because I've been both poor and rich.

There are many people in the world who have money and some people who do not have any at all. The rich people just can't have enough of the money. They don't even help others because they just care about themselves, especially when it comes to money. But instead, the poor rent a small place to live and help each other any way they can. I know all this because I've been through the sad poorness and the nice part about being rich. So I know the value of money.

Do you think money is good or bad? In many ways, money is good because you can get what you need. And it helps you get things in life. It's bad because sometimes you have it but you waste it on things you want.You need it to go to college and get what you need to live on. For example, you need a home to live in. But other people don't know how to save their money. They spend it on things they don't even need. Or even on things that are not necessary.

Do you think money is good or bad? Sometimes money is good and bad in many ways. An example for good is to get what you want and what you need. Sometimes money helps you in life. For example, you need money to support your family or when you go to college or university you need money to buy your education and your books for your classes. Money is bad because you can forget your family or your children because the only thing they care is about money. We get money by jobs, business, sales. Another important thing is to conserve money. You need to save money because there may be an occasion when money is included. Sometimes money is a pain in the neck because you make a decision that money can get you crazy or you need it.

Money? They say it's the root of all evil, but I disagree. It becomes evil when you lose your perspective and feel that the more toys you have, the better off you are. Don't get me wrong, hitting that Powerball is something I wouldn't mind (when I remember to buy a ticket), but my pleasure from that would be helping my parents live the last years of their life without financial worries, pay off my church's mortgage, leave a strictly worded endowment for my kids, purchase vacant land for the local flora and fauna to live in peacefully, give money to my favorite charities, etc. Sure, I'd like to pay off my bills and maybe splurge on a refurbished 1968 Plymouth Road Runner, but frankly, I get more joy in helping folks and just causes. That's where money counts for something. I have had so many blessings in my life. To end my days handing out money would be a great way to end a natural life - at least my natural life!

Money is not always good because you could get carried away and people might not treat you well anymore. Money is not for buying video games or all these cool and expensive cars. It is for buying things you really need like food or clothes. People in the streets need food and I bet those would use their money much wiser than some people we might know. If you have families and are wasting your money in a different place like gambling, you are just wasting your money and will end up in the streets like all the unwise people. I am not like those people because I am saving my money for important causes that happen in life like if someone gets hurt or if a homeless person is dying from hunger. Rich people don't care about no one except themselves sometimes. I do not think money is always good because you could never know if your wife just married you just get control over your money. If you act all selfish, people might not think you are that great. I think if everyone was money wise, this whole world would look much better and those people out in the streets would be in a good home. Money is good for some causes like if you are going to college or getting a good job or buying a house. Money can't always get everything that you want. That is why I think money should be saved instead of being wasted all in one place because then you will have less money to pay for the bills you have like the water bill and other stuff like that.

Money makes good people better. They do good things with it. Money makes bad people greedy. They live with the fear of losing their wealth. The challenge with money is that we don't teach our children about money. The Kennedys and Rockefellers teach their children about how money works. But our schools prepare us for a job (Just Over Broke). Until we can have money work for us, we will continue to work for money. We will continue to work 2 or 3 jobs to make ends meet. If we understood how money works, we could have 1 job and have time for our children. Be involved with their schools. If you are involved with your children, they will do better in society and in school. We will raise all ships.
Banks and Insurance companies will not teach you how money works. If it is to be, it is up to me!

Sometimes money is useful but sometimes it's bad. Money could be good because you can buy affordable things you need. But sometimes it is bad because you can spend it too fast. Money gets you in things you want like college. Another reason money is affordable is because you can buy a house and even a car. But sometimes things you want cost more than you have. But being rich is bad sometimes because you spend too much. Also because if people know you're rich they do dumb things like trying to rob you.They even try to rip you off. I think you should work hard for your own money so you don't have to ask for any. Working hard for your own money gets you money from your boss, bank or your parents.

Some rich people are never satisfied with the huge amount of money they already have. The bad side of it is when they start to want more. Once they get a few thousand dollars, they can never help but keep on wanting more. All this kind of people truly care about is money. To me I think when they don’t have enough money in their "collection," they have a big hole of sadness in their heart waiting to be filled with joy and happiness. Instead of turning to family and friends to fill the hole, they turn to their precious money or jewelry. Take me, for example. I am a middle-class kid and I understand the true way to spend money. My parents told me that money should be spent on your education, saving up for college and things for a better future. And also money should be spent on the basics of life like shelter, food, medicine, etc.
Our priority in life should be to improve our personal life through relationships and love among family. We need to build a strong foundation based on love and character. Picture a life of a normal rich guy who would wake up asking his maid to cook him fancy food, then go to their limo and ask their driver to take them to Rodeo and shop till you drop. But were they happy at the end of the day? Sure you can buy clothes, cars, or tickets to concerts, but you can never buy or bribe someone to love or be friends with you. If I get rich, I won’t go wild and out of control. I'll only buy what I need. I will keep being humble and highlighting good character instead of bragging about my wealth. This I think is what money’s true value is.

My comment is based on the Value of Money. I think money is useful in many ways, and it is also not useful in some ways. Money is good because you can buy shelter, clothes, and can provide us with a visual image of how the president looked like. Money is bad because people somehow get obsessed with it. People owe a lot of it, people steal, and people get obsessed also by betting money. Money comes from trees. Money is also made in Washington D.C in a money press. You can also make money from your allowance from mom, dad, and grandparents. I should emphasize that money can be invaluable if it is obtained through proper channels and spent wisely and for good causes.

My comment is about how money is important. Money is important because if you did not have money, you would not have a place to live and would not have clothes on your back and we need money to survive so we can buy food. I also think money is bad because it can get you killed and can lead you to trouble. We need money for school or we will not have a good education and we will not have school supplies and shoes and things you want and things you need. I realized that if you don't have money, you will survive.

Money is good and bad at the same time. Money is good because you can feed your own family. Money is bad because it doesn't bring happiness at all, it only brings to selfish and greed to their own heart. They don't care about their own family. They sometimes think families might waste their money. But the only way I can tell those people is that they are the most horrible people that I can say. But not all of the rich people are like that. Some rich people get what their family needs like toys for their children, houses for their parents, and gifts for their wife. They bring happiness to their family. And the road to happiness is your family and friends. Money only gets people into trouble. I call it the road to shame. The road to shame is by only caring about money, money, and money -- not your family or your kids. I bet they don't have friends because they might think to get friends is by buying them. That is a one-way trip to stupidity. To get friends you have to be yourself. So don't let your money be your friend. Let your family be your friends forever.

Money is good for some things . For excample, it can help u when you really need something. Like if you're sick, you can go to the pharmacy and buy medicine. Sometimes it helps you have a better future because you'll be able to pay for school.
Money is also bad because it can have a disease. Plus it can be from someone dangerous and they can kill you for it. It can also change you in many ways. It can make you greedy, careless, crazy, and very mean. It can seperate you from the people you love and care about, and you probably won't know about it until you lose them forever.

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