Summary: The Importance Of Money

Money plays a vital role in every person’s life. Money is not everything, but money is something very important. Beyond the basic needs, money helps us achieve our life 's goals and supports — the things we care about most deeply — family, education, health care, charity, adventure and fun. It helps us get some of life 's intangibles — freedom or independence, the opportunity to make the most of our skills and talents, the ability to choose our own course in life, financial security. With money, much good can be done and much unnecessary suffering avoided or eliminated (Ganeshan,2014). According also to Walker, “Money is that what money does” it has a lot of function and is very important to all of us as we used this mainly for transactions and consumptions and that is to satisfy our needs and wants. People tend to realize the importance of money because of the fact that in social, economic and in all of our other activities there is always an encounter of

Not to mention, the technology advancements, though creating a more innovative and easy access to the world, has made a huge difference in the spending behavior and habits of youth nowadays. Students, in this century, are tasked to face various challenges in their education in various aspects: emotional, social, mental, and most importantly financial. According to a recent study, it shows that one of the prevailing problems that they encounter is dealing with how they spend their own money. This study is important to know whether the students know how they spend and if they bank more on the required items rather than the discretionary items. If they know how to allocate their allowances correctly on several factors such as food, transportation, school needs, and disregarding the discretionary items, they would likely manage with savings when an unplanned expense