If we study the economic conditions of ancient civilized society, we will come to know that people used to exchange goods and services for other products and services in return. This system is known as a barter system. This practice continued until money was not invented.
This exchange of goods or money is only meant to meet the needs of people in any civilized society. The basic needs of people are food, shelter, education and medical.
From ancient society to modern society, there has been a significant increase in human needs. In the era of advanced technology; everyone is aware of various things around the world. As a result, the need for money is not limited to, meeting basic needs, but people have become competitive and ambitious. They have ambitions and desires to achieve big things.
Whether it is higher education, assets, luxury items, or medical assistance, we require money for everything. Money has a significant effect on our living standards. As such the necessity of money has grown very high and it has become an essential part of human civilization.
Although true happiness does not lie only in keeping wealth, we need other things too to be truly happy in life. However, we cannot deny the importance of money in our lives.