Money

Difference between money and wealth

Many people think that money and wealth is the same thing. This is a misconception. There are differences between money and wealth, money is a currency that people use to exchange for goods. Money is what you use to transfer wealth. Before money came into being, a system called barter system was used. This means that an item would be traded for another item. Barter system was the oldest type of currency. There are many sources for money. You can get money for work that you do, you can get money from businesses, you can get money from stock market etc. Money does not always mean wealth because there are many types of wealth. Money is one such type.

Wealth on the other hand is assets that help you earn even when your asleep. Wealth includes code, robots, businesses that can run without you etc. A very important skill to get rich is to be a fast learner. You have to learn what to do fast and apply it before it goes out of trend. There are 4 types of wealth. They are:-

• Money (financial wealth)
• Status (social wealth)
• Freedom (time wealth)
• Health (physical wealth)

Money is the type of wealth that gives you "financial freedom". This means that you have enough money to do what you like and not do what you don't like. Status is how we want others to see us. Status is something that defines our life. We always try to go behind trends and create an image of yourself that you want others to see you as. Freedom is the wealth of having time. This wealth helps us to do what you like, when you like and with who you like. Not everyone that's rich in cash is rich in time. Some people are cash rich and time poor. This means that people don't have enough time to do what they like. Then the 4th and most important type, Health. Without our health, we cannot get any of the other types of wealth. Money, status or freedom, none of them matters if you're health is bad.

So with this, it can be concluded that wealth is more than just money and that wealth is more important than money. The most important type of wealth is physical wealth which is health as none of the other wealths matter if you are dead. Money is also very important as it is financial wealth and is the currency that is used all over the world. You cannot live without money.