What is money for?

That is a standard question I ask clients.


Some answers I’ve had to that are:


  • To spend
  • For a rainy day
  • Be able to do what I want
  • To buy stuff
  • Show I’ve arrived
  • Make more money
  • To give me a lifestyle
  • A way of keeping score


Some people come up with the answer that is in the economic textbooks – it’s a medium of exchange.  I think it’s easier to think of it as a means to an end.   So what end is it the means to for you?


Is it to prove something to somebody – and if so, whom?  Or is it a means to get what you really want in life?


Which means you have to work out what it is you really want.


What is it that you want your money to do for you?  And why?  If you want a big house – why is that?  Do you actually have a large family or want to hold Edwardian House parties or something?  Or do you think that, once you get enough money you “ought” to have a big house?  Or you see it as being an investment? 


If it is an investment, or you “ought” to have it, what does it get you?  Maybe you make money on it, although if every other house goes up in value, unless you sell up and live in a tent you aren’t actually making much money.  But say you’ve made money, what do you want that money to do for you?  You want money, you get money, buy something to make more money and are still left with the questions, what is the money for,  what do you want it to do for you?


Most people are so busy trying to get money, they don’t stop to think why they want it, what it means or what they’d do if they got it.



So think about what you want the money to do for you.




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