Tuesday, October 28, 2008

What is money?

The misunderstanding and therefore the misuse of money, seem to be wide spread and the source of many problems. I’ll start with what money is and then next time, go on to how money is used.

The very first definition in The New Britannica-Webster dictionary is: 'something generally accepted as a medium of exchange, a measure of value, or a means of payment...' Not just gold, not just silver, nor papers with pictures of dead people on them, but anything generally acceptable for exchange. So in biblical times when olive oil was frequently used as a medium of exchange in the Middle East or when coffee was used as money in WWII Germany... money did grow on trees. Many of us exchange our time for cash or other goods, so the saying, 'time is money' is also true.

If time is money, then it is obvious that if you choose to pay with the correct currency, money can buy happiness or anything else you want! Have you been spending your time with those you love? Have you been spending your time doing things you enjoy? What the truly wealthy know is that you can buy anything if you know which currency to use.

Trading your time at a job that you hate, for currency, so that you can then buy happiness, love and joy, is not just inefficient but ineffective. Happiness, love, joy and other emotions come from what you pay attention to and focus on. If you’re focusing for 40 plus hours per week on doing something you dislike, no amount of cash will be able to make you happy. On the other hand, spending that same time doing what you love is sure to focus your attention on the positive emotions that you want to experience.