What is Money? Exploring How Your Relationship with Money Impacts Your Life

What is money?

Technically speaking, money is a promise backed by the government. They create treasury notes and mint coins, assigning each a specific value that we all agree to.

In the modern age, money is often just numbers on a screen. We trust our banks to show the right amount, but we never really touch anything physical.

But we need to dig a little deeper. We know the textbook definition of money, and it’s the physical definition. We can even identify its anthropological origins as a step up from the barter system. 

To develop a healthy relationship with money, we need to explore our philosophical views of money. 

What does it represent? How does it impact your life? 

What is money to you?

Money’s Philosophical Nature

Money represents different ideas for different people, and any given person likely has a complex relationship with the abstract values they to assign legal tender. 

Unique variables, including culture, class, political ideology, and more, can impact a person’s idea of what money represents. 

Here, we explore some of the most common viewpoints on the nature of money. 

Money is Power

In our capitalistic society, money represents power. 

Corporations buy politicians to skew the system in their favor. The rich write the laws, giving themselves free reign to rule over the masses. 

It’s all possible because their money makes them powerful. In some cases, it makes them above the law. 

Money buys the best lawyers, ensuring rich kids never see prison time for the same actions as poor kids. The rich can get away with crimes, like the “affluenza” teen who “was too rich to understand the consequences of his actions.”

Money also gives the rich access to the best institutions. They buy their way into colleges, unpaid internships, and exclusive clubs, then claim they deserve power over us because of these “accomplishments.”

But money is far more than power. 

Money is Status

People who view money as a status symbol flaunt their riches, splurging on the latest tech gadgets, hottest fashion trends, and fastest cars. They’re constantly trying to impress everyone else by throwing their money around. 

It’s a trap that poor folks fall into just as easily as the wealthy. Millions of people overburden themselves with debt, attempting to impress people they don’t really care about. “Keeping up with the Joneses” is about using money to convey status. 

The idea of money as a status symbol is superficial at best. Most people who view money as status also view it as power or have a more complex relationship with it. 

While money can buy status, especially in the most materialistic circles, it’s far more than that. 

Money is Life

For many of us, money represents far more than power or status. It’s survival. 

It’s life. 

In today’s society, you need money to survive. You can’t feed your family or put a roof over your head if you don’t have money. 

For far too many people, payday is a lifeline. Nearly 80% of Americans say they live paycheck to paycheck. 

Money represents life to these folks. It’s what keeps them clothes, housed, and fed. When you’re struggling to keep those basic needs met, it’s hard to see beyond them. 

Money is the Root of All Evil

Some folks have a negative view of money. They see how horrible and corrupt people with money can become and sometimes blame currency itself for the outcome. 

Those who think money is evil may struggle financially because if money is evil, the best way to “not be evil” is not to have money. 

They may subconsciously sabotage themselves. They’ll never have wealth, but at least they can still say they are good people. 

Is Money Any of That?

Money may represent these ideals for segments of the population, but that’s not what it is. 

At its core, money is just a tool. 

Money as a Tool

Money is a versatile tool that allows you to buy everything from necessities to social status. 

How you use it is up to you. 

You can use money to gain power, but you can also use it to achieve security. You can use it to gain status, but you can also use it for the betterment of humanity. 

Your Relationship With Money Dictates Your Spending

Your view of money has severe financial impacts. Those who view money as a status symbol may overspend in flawed attempts to impress people, while those who think of money as life may spend everything they earn on creature comforts. 

Those who view money as a tool have a healthier relationship with money. They use it as needed, buying the goods and services they need for a full life while saving and investing for the future. 

People with skewed relationships with money may struggle to separate their emotional desires for power or status from the logical use of money as a tool to enhance their lives. 

Improving Your Relationship With Money

If you struggle with money, you may have a complex relationship with it. 

You must change your money mindset if you want to achieve financial success. 

Determine Your Current Mindset

First, you must acknowledge your current relationship with money. Is it power or status? Is it evil? 

You may discover that you have a good relationship with money; you just don’t have enough. If this is the case, the only thing that will help is increasing your income or reducing your expenses. 

However, you may discover that you’re spending on things you don’t need because you view money as something it’s not. If that’s the case, you need to confront the problem. 

Confront Your Biases

When you learn that your relationship with money is causing financial strife, you must confront it. 

Dive deep into why you see money the way you do. Why is it evil? Who told you that? What evidence supports it?

You may have deep-seated feelings about money due to your values, upbringing, and life experiences. It’s time to examine them and confront your money biases head-on. 

Rethink Money

Now that you know where your flawed relationship with money stems from, you can reshape your thinking. 

Whenever an invasive thought about money pops up, challenge it. Journal or meditate to rewire your brain to think of money as a tool. 

The more your conscious mind insists that money is a tool, the more your subconscious will believe it. 

How Do You View Money?

What is money to you? How has your relationship with money affected your life? What can you do to shift your money mindset?

I’d love to hear about your journey to a positive relationship with money in the comments!