Paula Rojas Blog

Money is the root of….., well you know the rest. I have heard so many different conversations about money throughout my life. Some conversations demonize money, making it seem as though wanting to accumulate it is an evil sin, while others champion the notion of accumulating it, making it seem as though this pastime is humanity’s sole purpose for existing. There are other conversations about money that infer that only a small percentage of society will ever have the ability to accumulate money because of privilege, while the masses will be destined to simply chase it to no avail. There are many differing views as to what money is, how to or who can amass it, and whether it is right or wrong to do so. Well, I am not going to get into the morality issue involving the accumulation of money, instead I would like to focus on the following question: Does the accumulation of money equate to wealth? In order to properly respond to this inquiry, I will have to address some of the conversations we just touched upon by answering the following questions:

What is money?
Is money necessary?
Are some people destined to accumulate money while others are doomed to simply pursue it to no avail?
What is wealth?

What Is Money?

Money is a form of currency. It is a physical representation of value used for exchange in the marketplace. Money was not always the preferred means of exchange, however. Bartering (a economic exchange rooted in trading one set of items or services for another) was the means of exchange long ago, as the marketplace was far simpler, consisting of fewer products and services for sale, as well as fewer people in which to sell these products and services to. Prior to the formation of large villages and international trading, the marketplace did not require a complex currency/exchange system. However, as the numbers of buyers and sellers grew, it became more apparent that a more complex form of exchange would be needed. Hence, the creation and utilization of monetary-based exchange systems.

Now, while you and I can read the worth of a dollar bill on its face, as a dollar, its true worth may not be that, as a currency’s value is never stagnant, as all of the values of the different currencies’ around the world are constantly fluctuating. This fluctuation is most often based on the stability of the market(s) that a given currency supplies. Therefore, as with other currencies around the world, America’s dollar fluctuates based on the stability of the marketplaces it serves. However, there is one changing dynamic fundamental to this economic theory that seems to currently be upsetting the apple cart, and that is globalization. As the world moves closer to a global economy, each nation’s currency will be more interconnected with one another, meaning that instabilities in markets outside of one’s physical borders will have an ever increasing impact on one’s currency.

I say all of this to show you that money is simply a fluctuating commodity used for the buying and selling of products and services in the world’s various marketplaces. However, the problem is that many of us put far too much emphasis on money as a tangible good, which often leads to unsuccessfully chasing an intangible theory.

Is Money Necessary?

Yes, it is. One cannot deny the necessity of money, being that it is the primary means of exchange around the world. Money is necessary for living a life that most would deem acceptable, which includes obtaining and maintaining the basics such as shelter, food, and clothing. However, where we often begin to get ourselves into trouble is when we start to acquire some of the niceties such as big screen televisions, sports cars, or elaborate vacations. I try to be very careful when talking about these niceties, because this is where a lot of people often get carried away with the “power” of money. Be clear that niceties or luxuries are not necessities, nevertheless many people often incorrectly lump the two together, causing them to relentlessly pursue money in what some would deem a sinful way. Again, I am not here to make any moral determinations about the pursuit of money, because what one may demonize as the evil pursuit or accumulation of money, another may deem as the positive result of his/her hard work. Therefore, that determination rests in the eye of the beholder. Nevertheless, there is no getting around the necessity of money to fulfill our most basic needs.

Are Some People Destined To Accumulate Money While Others Are Doomed To Simply Pursue It To No Avail?

This question plays right into the “woe is me” conversation that many people seem to have about the accumulation of money. While it is true that some people have a leg up on money accumulation, they do not have a lock on it, because remember, money is a fluctuating commodity (an intangible theory in essence). Money is based on a perceived value. Therefore, no one is doomed to be poor or penniless. However, whether you accumulate money or simply chase it resides in your perceived self-worth. Now, I know some of you may be saying this guy is crazy, but I am telling you the truth. If you were not born with a silver spoon in your mouth, then you have to shift your thinking in regards to your self-worth. Once you do that you can begin to accumulate money if that is your desire. What do I mean by shift your thinking?

Every product or service bought or sold on the world market has a value that fluctuates based on what consumers are willing to pay for it. As I previously explained, even the value of money which is the marketplaces means of exchange fluctuates. This goes to show that everything is a commodity. Everything has a value, even you. You must now ask yourself a couple of important questions to get yourself in the proper mindset if you want to accumulate money:

What talents or skills do I possess that can be of great value to others?
What talents or skills could I learn that can be of great value to others?
Am I willing to develop my talents and skills to the best of my abilities?
Am I willing to wait until my talents and skills are honed before I put them on display?
Am I willing to put myself out there to demonstrate my talents and skills to the public?
Am I willing to demand that my talents and skills be compensated based on their value in the marketplace?

I hope you are beginning to get the picture. Just like every other product and service in the marketplace has a monetary value, so do you. The question is what do you bring to the table that is of great value to others? Many people don’t realize that they are a commodity or don’t want to acknowledge it. But whether you want to acknowledge that fact or not, we all are, and those of us that realize this early on and take the appropriate steps to develop our talents and skills before our peers tend to accumulate money at a much easier rate than those who don’t realize, refuse to accept this fact, or develop late.

Does this mean that individuals that don’t realize, refuse to accept this fact, or develops themselves late are doomed to simply live a life pursuing money to no avail? Unfortunately, the answer is most likely yes. Just look at the wealth disparity in America, a place where one is afforded the freedom to pursue his/her dreams. The masses have the wrong mindset, because they are chasing money as though it is a tangible asset. One final point on this topic, for those who fall into this category and somehow accumulate money, chances are it will be short lived if you do not realize that you must have some service or talent to contribute that society values if you want to keep the money flowing, because if not, the money will eventually run out with no way of replenishing it. Just look at the numbers of individuals that have obtained riches through the lottery or inheritance only to squander it over time.

What is Wealth?

Unlike money, wealth is not relegated to that of a fluctuating commodity used primarily for the purpose of exchange in the marketplace. Wealth represents an accumulation of any and everything dear to an individual. This can include people that you value, possessions that mean a lot to you, the remembrance of experiences that played a key role in your life, the attainment of a quality education, a high level of self-esteem, good health, happiness, and not to be left out, money (if you value it). A key difference between wealth and money is that the accumulation of wealth implies that the person doing the accumulating has some level of wisdom, self-worth, and maturity, as it is often very difficult to accumulate items of wealth if one does not understand what, why, and how to gather and maintain items he/she values.

Does The Accumulation of Money Equate to Wealth?

We have finally arrived at the overarching question: Does the accumulation of money equate to wealth? Well, after having read up to this point, what do you think? No, as the accumulation of money is only one aspect of wealth, and actually the lesser aspect in my view. Money can really only provide greater power in the marketplace, but if you realize your self-worth (which is what wealth requires), you can accumulate and maintain the money as well as all of the other things that we spoke about in regards to wealth. Remember, money is only one aspect of life and not life itself. You are life itself, and from you everything manifests. Therefore, I would pursue wealth over money any day of the week. A final thought, money without the development of self is hollow, empty, fleeting, while development of self (inside of the realization of one’s worth) breeds wealth for a lifetime.