desire for money essay

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Does More Money Really Make Us More Happy?

• Elizabeth Dunn
• Chris Courtney

A big paycheck won’t necessarily bring you joy

Although some studies show that wealthier people tend to be happier, prioritizing money over time can actually have the opposite effect.

• But even having just a little bit of extra cash in your savings account ($500), can increase your life satisfaction. So how can you keep more cash on hand?
• Ask yourself: What do I buy that isn’t essential for my survival? Is the expense genuinely contributing to my happiness? If the answer to the second question is no, try taking a break from those expenses.
• Other research shows there are specific ways to spend your money to promote happiness, such as spending on experiences, buying time, and investing in others.
• Spending choices that promote happiness are also dependent on individual personalities, and future research may provide more individualized advice to help you get the most happiness from your money.

Where your work meets your life. See more from Ascend here .

How often have you willingly sacrificed your free time to make more money? You’re not alone. But new research suggests that prioritizing money over time may actually undermine our happiness.

• ED Elizabeth Dunn is a professor of psychology at the University of British Columbia and Chief Science Officer of Happy Money, a financial technology company with a mission to help borrowers become savers. She is also co-author of “ Happy Money: The Science of Happier Spending ” with Dr. Michael Norton. Her TED2019 talk on money and happiness was selected as one of the top 10 talks of the year by TED.
• CC Chris Courtney is the VP of Science at Happy Money. He utilizes his background in cognitive neuroscience, human-computer interaction, and machine learning to drive personalization and engagement in products designed to empower people to take control of their financial lives. His team is focused on creating innovative ways to provide more inclusionary financial services, while building tools to promote financial and psychological well-being and success.

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Greater Good Science Center • Magazine • In Action • In Education

How Money Changes the Way You Think and Feel

The term “affluenza”—a portmanteau of affluence and influenza, defined as a “painful, contagious, socially transmitted condition of overload, debt, anxiety, and waste, resulting from the dogged pursuit of more”—is often dismissed as a silly buzzword created to express our cultural disdain for consumerism. Though often used in jest, the term may contain more truth than many of us would like to think.

Whether affluenza is real or imagined, money really does change everything, as the song goes—and those of high social class do tend to see themselves much differently than others. Wealth (and the pursuit of it) has been linked with immoral behavior—and not just in movies like The Wolf of Wall Street .

Psychologists who study the impact of wealth and inequality on human behavior have found that money can powerfully influence our thoughts and actions in ways that we’re often not aware of, no matter our economic circumstances. Although wealth is certainly subjective, most of the current research measures wealth on scales of income, job status, or socioeconomic circumstances, like educational attainment and intergenerational wealth.

Here are seven things you should know about the psychology of money and wealth.

More money, less empathy?

Several studies have shown that wealth may be at odds with empathy and compassion . Research published in the journal Psychological Science found that people of lower economic status were better at reading others’ facial expressions —an important marker of empathy—than wealthier people.

“A lot of what we see is a baseline orientation for the lower class to be more empathetic and the upper class to be less [so],” study co-author Michael Kraus told Time . “Lower-class environments are much different from upper-class environments. Lower-class individuals have to respond chronically to a number of vulnerabilities and social threats. You really need to depend on others so they will tell you if a social threat or opportunity is coming, and that makes you more perceptive of emotions.”

While a lack of resources fosters greater emotional intelligence, having more resources can cause bad behavior in its own right. UC Berkeley research found that even fake money could make people behave with less regard for others. Researchers observed that when two students played Monopoly, one having been given a great deal more Monopoly money than the other, the wealthier player expressed initial discomfort, but then went on to act aggressively, taking up more space and moving his pieces more loudly, and even taunting the player with less money.

Wealth can cloud moral judgment

It is no surprise in this post-2008 world to learn that wealth may cause a sense of moral entitlement. A UC Berkeley study found that in San Francisco—where the law requires that cars stop at crosswalks for pedestrians to pass—drivers of luxury cars were four times less likely than those in less expensive vehicles to stop and allow pedestrians the right of way. They were also more likely to cut off other drivers.

Another study suggested that merely thinking about money could lead to unethical behavior. Researchers from Harvard and the University of Utah found that study participants were more likely to lie or behave immorally after being exposed to money-related words.

“Even if we are well-intentioned, even if we think we know right from wrong, there may be factors influencing our decisions and behaviors that we’re not aware of,” University of Utah associate management professor Kristin Smith-Crowe, one of the study’s co-authors, told MarketWatch .

Wealth has been linked with addiction

While money itself doesn’t cause addiction or substance abuse, wealth has been linked with a higher susceptibility to addiction problems. A number of studies have found that affluent children are more vulnerable to substance abuse issues , potentially because of high pressure to achieve and isolation from parents. Studies also found that kids who come from wealthy parents aren’t necessarily exempt from adjustment problems—in fact, research found that on several measures of maladjustment, high school students of high socioeconomic status received higher scores than inner-city students. Researchers found that these children may be more likely to internalize problems, which has been linked with substance abuse.

But it’s not just adolescents: Even in adulthood, the rich outdrink the poor by more than 27 percent.

Money itself can become addictive

The pursuit of wealth itself can also become a compulsive behavior. As psychologist Dr. Tian Dayton explained, a compulsive need to acquire money is often considered part of a class of behaviors known as process addictions, or “behavioral addictions,” which are distinct from substance abuse.

These days, the idea of process addictions is widely accepted. Process addictions are addictions that involve a compulsive and/or an out-of-control relationship with certain behaviors such as gambling, sex, eating, and, yes, even money.…There is a change in brain chemistry with a process addiction that’s similar to the mood-altering effects of alcohol or drugs. With process addictions, engaging in a certain activity—say viewing pornography, compulsive eating, or an obsessive relationship with money—can kickstart the release of brain/body chemicals, like dopamine, that actually produce a “high” that’s similar to the chemical high of a drug. The person who is addicted to some form of behavior has learned, albeit unconsciously, to manipulate his own brain chemistry.

While a process addiction is not a chemical addiction, it does involve compulsive behavior —in this case, an addiction to the good feeling that comes from receiving money or possessions—which can ultimately lead to negative consequences and harm the individual’s well-being. Addiction to spending money—sometimes known as shopaholism —is another, more common type of money-associated process addiction.

Wealthy children may be more troubled

Children growing up in wealthy families may seem to have it all, but having it all may come at a high cost. Wealthier children tend to be more distressed than lower-income kids, and are at high risk for anxiety, depression, substance abuse, eating disorders, cheating, and stealing. Research has also found high instances of binge-drinking and marijuana use among the children of high-income, two-parent, white families.

“In upwardly mobile communities, children are often pressed to excel at multiple academic and extracurricular pursuits to maximize their long-term academic prospects—a phenomenon that may well engender high stress,” writes psychologist Suniya Luthar in “The Culture Of Affluence.” “At an emotional level, similarly, isolation may often derive from the erosion of family time together because of the demands of affluent parents’ career obligations and the children’s many after-school activities.”

We tend to perceive the wealthy as “evil”

On the other side of the spectrum, lower-income individuals are likely to judge and stereotype those who are wealthier than themselves, often judging the wealthy as being “cold.” (Of course, it is also true that the poor struggle with their own set of societal stereotypes.)

Rich people tend to be a source of envy and distrust, so much so that we may even take pleasure in their struggles, according to Scientific American . University of Pennsylvania research demonstrated that most people tend to link perceived profits with perceived social harm. When participants were asked to assess various companies and industries (some real, some hypothetical), both liberals and conservatives ranked institutions perceived to have higher profits with greater evil and wrongdoing across the board, independent of the company or industry’s actions in reality.

Money can’t buy happiness (or love)

We tend to seek money and power in our pursuit of success (and who doesn’t want to be successful, after all?), but it may be getting in the way of the things that really matter: happiness and love.

More on Inequality

Read Jason Marsh's award-winning story on how inequality hurts everyone's happiness .

Discover how inequality can make the wealthy less cooperative .

Find out why affluent people are more likely to break rules .

Explore whether the rich are really less generous .

There is no direct correlation between income and happiness. After a certain level of income that can take care of basic needs and relieve strain ( some say $50,000 a year , some say $75,000 ), wealth makes hardly any difference to overall well-being and happiness and, if anything, only harms well-being: Extremely affluent people actually suffer from higher rates of depression . Some data has suggested money itself doesn’t lead to dissatisfaction—instead, it’s the ceaseless striving for wealth and material possessions that may lead to unhappiness. Materialistic values have even been linked with lower relationship satisfaction .

But here’s something to be happy about: More Americans are beginning to look beyond money and status when it comes to defining success in life. According to a 2013 LifeTwist study , only around one-quarter of Americans still believe that wealth determines success.

This article originally appeared in the Huffington Post and Fulfillment Daily .

About the Author

Carolyn gregoire, you may also enjoy.

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Essay on Effects Of Money On Human Behavior

Students are often asked to write an essay on Effects Of Money On Human Behavior in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Effects Of Money On Human Behavior

Introduction.

Money is an essential part of our lives. It helps us buy things we need and want. But, it also has a big influence on how we behave. This essay will look at some of the ways money affects human behavior.

Money and Happiness

Many people think that having more money will make them happier. They work hard to earn more, believing it will bring joy. But, research shows that after a certain point, more money doesn’t increase happiness. This is known as the ‘money-happiness paradox’.

Money and Relationships

Money can also affect our relationships. If one person has a lot more money than another, it can cause tension. They may feel superior or inferior, which can harm the relationship.

Money and Decisions

Money can influence the decisions we make. For example, if we have a lot of money, we might take more risks because we feel secure. But, if we have less money, we might be more cautious and avoid risks.

Money and Generosity

Lastly, money affects our generosity. Some people become more generous when they have more money. But others may become more selfish, wanting to keep all their money for themselves.

In conclusion, money has a big impact on our behavior. It can affect our happiness, relationships, decisions, and generosity. Understanding these effects can help us use money in a healthy way.

250 Words Essay on Effects Of Money On Human Behavior

The power of money.

Money, a key player in our lives, influences human behavior in many ways. It can bring out both the best and worst in people. Let’s explore how money impacts our actions.

Many people believe that having more money leads to happiness. They work hard to earn more, thinking it will make them happier. This belief can motivate people to strive for success. Yet, studies show that after a certain point, more money does not increase happiness.

Money also affects our relationships. It can lead to arguments and tension when there is not enough. On the other hand, it can also create power imbalances when one person has more than the other. These imbalances can strain relationships and cause conflict.

Money and Decision Making

Money influences our decisions too. It can make us careful and thoughtful about how we spend. But, the desire for money can also lead to poor choices. For example, some people might choose a high-paying job they hate over a lower-paying job they love.

Money can affect our generosity. Some people, when they have more money, choose to share it with others. Yet, others may become more selfish, wanting to keep all their money for themselves.

In conclusion, money has a powerful effect on human behavior. It influences our happiness, relationships, decisions, and generosity. Understanding this can help us make better choices about how we use and value money.

500 Words Essay on Effects Of Money On Human Behavior

Money is a tool that allows us to buy goods and services. It is a key part of our daily lives. But, money does more than just help us get things we need or want. It also impacts how we act and think. This essay will discuss the ways money influences human behavior.

Many people believe that having more money will make them happier. This is partly true. Money can help us meet our basic needs like food, clothing, and shelter. It can also allow us to enjoy experiences and buy items that make life more enjoyable. But, studies show that after a certain point, more money does not lead to more happiness. This is known as the ‘wealth plateau’. It means that once our basic needs are met, extra money does not make us much happier.

Money and Stress

Money can also cause stress. Worrying about not having enough money to pay for things we need can lead to anxiety and other health problems. This is especially true for people who struggle to make ends meet. On the flip side, even people with lots of money can feel stressed. They might worry about losing their wealth or feel pressure to maintain a certain lifestyle.

Money can also impact our relationships with others. For instance, if one person in a friendship or a family has a lot more money than the other, it can create tension. The person with less money might feel jealous or inferior. The person with more money might feel guilty or pressured to share their wealth. In some cases, money can even lead to arguments or breakups.

Money can affect the choices we make. For example, if we have a lot of money, we might be more willing to take risks. This could include things like starting a business or investing in stocks. On the other hand, if we have little money, we might be more cautious and avoid risks. We might also prioritize short-term gains over long-term benefits.

In conclusion, money has a big impact on human behavior. It can influence our levels of happiness and stress, affect our relationships, and shape our decisions. It’s important to remember that while money can provide opportunities and security, it’s not the only thing that matters in life. Our values, relationships, and personal growth are also key to our overall well-being.

That’s it! I hope the essay helped you.

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Money and Happiness in Poor and Wealthy Societies Essay

Introduction, positive correlation between happiness and money, insignificant correlation between happiness and money, works cited.

Many societies believe that money does not buy happiness. However, others affirm the contrary belief by saying that income levels affect people’s happiness. Before delving into the details of these perceptions, it is important to understand that happiness is an emotional or mental state where people experience more positive than negative feelings. These feelings outline how people interact with different stimuli, such as income, to influence their happiness. People experience different emotional effects through such stimuli. The positive and negative effect refers to the effects that varying income levels have on people’s feelings and emotions. In detail, a positive effect refers to the extent that a person experiences positive moods (such as joy and interest), while negative affect refers to negative emotions (such as anxiety, sadness, and depression) that most people experience from varying income levels.

Using the above definitions, happiness, and emotional outcomes, Kesebir and Diener (117) say unsurprisingly different researchers have investigated the relationship between happiness and money. Indeed, many societies believe that life is not about (merely) living, but living a fulfilling and happy life (quality life). This realization has caused many philosophers to explore different ways of rising above the mere existence of life to a more fulfilling purpose of living.

Comprehending the motivations for pursuing money and happiness is the key to understanding this correlation. In this paper, I argue that wealthy and poor societies have different relationships between money and happiness. In detail, after exploring different types of correlation between the two variables, I explain that the relationship between both variables is strong in low-income societies, but it gradually weakens as income increases (especially in wealthy societies). Based on this understanding, money affects happiness to a limited extent. Indeed, beyond the satisfaction of basic human needs, other non-monetary factors, such as social relationships, have a more significant correlation with happiness than money does.

The positive correlation between money and happiness mainly exists in low-income societies. The utilitarian philosophies of the modern era affirm this relationship (Kesebir and Diener 117). However, their influences stem from common beliefs in the 19 th century (and beyond), which equaled happiness to utility (utility refers to the ability of material possessions to satisfy human needs and wants). Using the relationship between happiness and utility, many medieval societies believed the latter was equal to human pleasure (Kesebir and Diener 117). Jeremy Bentham and Aristotle (among other philosophers) supported this view by saying that most people should strive to experience more pleasure than pain (as a measure of their happiness) (Kesebir and Diener 117). They also argued that different societies should use this basis for understanding morality and legislation (Kesebir and Diener 117).

As many societies embraced this idea, the medieval conception of happiness, as a function of virtue and perfection, disappeared (Kesebir and Diener 117). People started to see material possessions as more important than gaining respect from society (by practicing good morals and virtues). Similarly, this ideological shift made it uncommon for many people to focus on issues of human well-being (human well-being closely associates with happiness because it refers to a state of health or prosperity) (Kesebir and Diener 117). Therefore, their focus shifted to material possessions as a measure of happiness.

In line with the above argument, Aristotle argued that wealth was an important requirement for happiness. Easterlin (3) shared the same view by explaining America’s perception of happiness. He said many US citizens perceived happiness through “material” lenses. The Easterlin (3) paradox summed this view by showing that income had a direct correlation with happiness. It based this argument on several cross-national studies, which showed that rich people were happier than poor people were. For example, in a 1970 American study, Easterlin (4) found out that less than one-quarter of low-income people believed they were “happy” people. Comparatively, about double this number of respondents (in the high-income group) said they were happy. The same findings appeared in more than 30 similar researches conducted in other parts of the world. Although the same study established a correlation between happiness and education, health, and family relationships, income emerged as having the strongest and most consistent relationship with happiness (Easterlin 4).

Although Easterlin (3) used the above findings to support the correlation between income and happiness, he said increasing everybody’s income weakened the correlation between both variables. Therefore, income variations affected people’s perceptions of happiness (people always judge their happiness based on what their peers think of them). Lane (57) supported these views when he said that most people often adjusted to a new standard of measuring their happiness whenever they increased their income levels (the desire for money tapers off as income increases). Using this analogy, Easterlin (5) believed that wealthy nations were no happier than poor nations. Based on the same logic, he said that people’s subjective perceptions of happiness depended on their welfare perceptions (Easterlin 5).

Therefore, as opposed to perceiving their happiness through “material” lenses, they did so by understanding how it compared to their social norms. Consequently, people who are above the “norm” feel happier than those who are below it (how people perceive the social norm depends on the economic well-being of the society).

Although Easterlin (5) argued that happiness was subjective to the national income (as shown above), researchers who have conducted studies that are more recently told that the correlation between happiness and well-being was stronger than his paradox showed. Consequently, they revised this model by saying that increased national income affected the overall sense of individual well-being in a country. Unlike the data relied on Easterlin (4), researchers established the above fact, using findings that are more reliable. For example, Lane (56) quoted the findings of a 1976 transnational study, which showed that a nation’s poverty index affected the well-being of its citizens (such as people’s attitudes, feelings, and perceptions). These studies showed that personal satisfaction increased with increased levels of economic development (money “bought” happiness).

Money has an insignificant correlation with happiness in wealthy societies. This is an old view of this relationship because philosophers from ancient Greece started exploring this insignificant correlation in 370 BC (Kesebir and Diener 118). They said material wealth had an indirect correlation with happiness. Based on this understanding, they believed that a man’s mind defined his level of happiness. Similarly, they believed it was difficult for people to be happy if they lacked morals and virtues (money was not a priority). Democritus and Epicurus (two ancient Greek philosophers) mainly advanced this view (Kesebir and Diener 118).

Similarly, other ancient Greek philosophers, such as Socrates and his student, Plato, refuted the claim that happiness depended on the “enjoyment” of beautiful and good things. They believed that all people needed to show prudence and honor to be happy (Kesebir and Diener 118). Lane (56) has also reported the same findings after analyzing the relationship between money and happiness in a contextual approach. Like, Easterlin (3), he said in many developed countries, money did not increase happiness levels. Frank Andrews and Stephen Withey (cited in Lane 58) also supported these findings when they said that different socioeconomic groups showed small differences in people’s well-being. They also said that income levels had an insignificant impact on life as a whole.

The above findings show the different correlations between income and happiness. However, I believe this limited correlation mainly emerges in wealthy societies, as opposed to low-income societies. For example, non-monetary issues have a strong correlation with happiness in wealthy societies. Economists also affirm this fact through the Maslow hierarchy of needs because they say people crave for higher-level needs, such as love, social relationships, and recognition after they have met their primary needs such as food, shelter, sex, and clothing. Since many people in wealthy societies do not struggle to meet basic human needs, the insignificant correlation between happiness and money applies to this group of people.

Some philosophers maintain a “middle ground” by supporting the limited influence of money on happiness. Epicureans also supported this view because they said wealth was important to people’s happiness, to the extent that it gave people their basic needs, like shelter and clothing (Kesebir and Diener 118). However, beyond this threshold, it had an insignificant relationship with happiness. This analysis affirms the different correlations between happiness and income across poor and wealthy nations. Indeed, Kesebir and Diener 117) say there is a strong correlation between happiness and income in low-income countries, while wealthy economies experience an insignificant correlation between the two variables. A comparative study conducted in America revealed that the wealthiest Americans (profiled in Forbes) were only modestly happier than middle-income and low-income control groups that lived with them in the same location (Lane 58).

Based on the above analysis, income is not the only variable that affects happiness. Non-monetary issues affect happiness too. Lane (58) supports this argument by highlighting the need to distinguish individual pleasures from human well-being issues. Individual pleasures may depend on income, but people’s well-being is subjective. Therefore, besides income, other factors affect people’s happiness. To support this view, Lane (58) cited a 1982 study (conducted by Gallup), which asked Americans what made them happy (Lane 58). The respondents said family relationships made them happier than money did. Other things that made them happy included television, friends, reading books (and other pleasures) that most people from low-income families could afford (Lane 57).

Therefore, income does not solely define happiness. This analysis shows that although most people need to have adequate money to be happy, money, in isolation, is not sufficient to guarantee happiness, beyond providing basic needs. In the book, Happy People , Jonathan Freedman (cited in Lane 57) affirmed the above fact by saying that rich and poor people have different perceptions of the role of wealth in increasing people’s happiness levels. Overall, while many rich people understand that wealth does not automatically guarantee happiness, people from low-income societies believe it does. This was similarly true for their perceptions of well-being. Therefore, when a person is extremely poor, money looks like a “savior” of some sort, but as income increases, this idea disappears. This analogy has stronger merit than the general perception that money “buys” happiness. Indeed, not all happy people are rich. In this regard, many human societies have focused so much on material wealth that they have forgotten. It does not guarantee happiness.

After weighing the findings of this paper, easily, a person could affirm an indirect relationship between happiness and income. Some researchers say money has a direct relationship with happiness, while others do not affirm this relationship. This inconsistency stems from the contextual appeal of income and wealth to human societies. For example, income has a weak correlation with happiness in wealthy societies. However, this relationship is stronger in low-income societies. Evidence also shows that there was a weak correlation between income and happiness in medieval societies because many people believed adhering to human virtues made people happy (this was the medieval standard for happiness).

However, the modern era changed this perception and shifted the societal focus from virtues and morals to material wealth. Now, people attach more value to income and similar “material” factors. However, as changes to the Easterlin (3) paradox suggest, wealth increases happiness to a limited extent. Overall, this paper shows that income and happiness have a “contextual” relationship. For example, if there is a broad increase in income across a nation, this correlation weakens (the Easterlin (3) paradox mainly supports this view); however, as income levels decrease, the correlation strengthens. Consequently, there is a strong correlation between money and happiness in low-income societies. In wealthy societies, non-monetary factors like health and the quality of family relationships have a stronger impact on happiness than money does.

Easterlin, Richard. “Does Money Buy Happiness?” Public Interest 30.3 (1973): 3-10. Print.

Kesebir, Pelin and Ed Deiner. “In pursuit of happiness: Empirical Answers to Philosophical Questions.” Perspectives on Psychological Science 3.2 (2008): 117-123. Print.

Lane, Robert. “Does Money buy Happiness?” Public Interest 113.3 (1993): 56-65. Print.

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IvyPanda. (2020, May 26). Money and Happiness in Poor and Wealthy Societies. https://ivypanda.com/essays/money-and-happiness-in-poor-and-wealthy-societies/

"Money and Happiness in Poor and Wealthy Societies." IvyPanda , 26 May 2020, ivypanda.com/essays/money-and-happiness-in-poor-and-wealthy-societies/.

IvyPanda . (2020) 'Money and Happiness in Poor and Wealthy Societies'. 26 May.

IvyPanda . 2020. "Money and Happiness in Poor and Wealthy Societies." May 26, 2020. https://ivypanda.com/essays/money-and-happiness-in-poor-and-wealthy-societies/.

1. IvyPanda . "Money and Happiness in Poor and Wealthy Societies." May 26, 2020. https://ivypanda.com/essays/money-and-happiness-in-poor-and-wealthy-societies/.

Bibliography

IvyPanda . "Money and Happiness in Poor and Wealthy Societies." May 26, 2020. https://ivypanda.com/essays/money-and-happiness-in-poor-and-wealthy-societies/.

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Importance of Money Essay - 100, 200, 500 Words

Money is a commodity accepted by general consent as a medium of economic exchange. It is the principal measure of wealth. It is any good that is widely used and accepted in transactions. Human life will have a lot of changes with the presence and absence of money. Money has become the most vital part of life.

100 Words Essay On Importance Of Money

Money is a critical factor in our lives as it helps us to meet our basic needs and desires. It provides us with a sense of security and helps us to plan for the future. Money enables us to buy food, shelter, and clothing, and to access healthcare and education. Additionally, it provides us with the means to enjoy leisure activities and to travel. Money is also important in terms of personal and professional development, as it allows individuals to invest in themselves and their careers. Furthermore, money plays a crucial role in the economy, as it is used for transactions and for saving and investing.

200 Word Essay On Importance Of Money

The status of a person in society is impacted by how much money they have. We all desire financial success either b y working hard or succeeding in business. However, only a few people seize the opportunity to realise their dream of becoming a millionaire. Money also provides a measure of economic stability, as it allows for the management of inflation and the allocation of resources. On a personal level, money helps to meet basic needs and provide a sense of security, allowing individuals to plan for the future and pursue their goals and aspirations.

Everyone needs money, no matter how wealthy they are. Knowing the value of money in our lives helps us to avoid wasting or squandering it for any reason. The only reason for all the changes and variations in life is money. From the moment we begin till the moment we go to sleep, everything that happens in between requires the use of money. However, it is important to remember that money is not everything, and that true happiness and fulfillment come from other sources such as relationships, personal growth, and contributing to the community. Money is important, but it should not be the driving force in one's life.

500 Word Essay On Importance Of Money

Creation of money.

People bartered for goods and services before money was invented. About 5000 years ago, the Mesopotamian people created the shekel. This is considered the first known form of currency. Around 650 to 600 BC, gold & silver coins were stamped and used to pay armies. From then to now, money's importance has been increasing daily.

Origin of money

The word money is derived from the Latin word "Moneta" . Moneta means coin . In the ancient world, Juno was often associated with money.

Types of Money

There are seven types of money—representative, fair, paper, commodity, coinage, digital and commercial bank money . This money is used for exchange depending on their need and requirement.

Properties of money

The different properties of money are durability, divisibility, portability, uniformity, acceptability and limited supply. Having such unique and essential properties adds value to money.

Basic Need For Money

No matter their financial situation, everyone needs money. Money is required for many things, including purchasing clothing, housing, food, and other necessities. It's imperative to satisfy these needs. Our personal and societal well-being will suffer severely if we don't have enough money to achieve it.

Uses of money

In reality, we can say there are only five main uses for money

We can use it to live.

We can give it.

We can pay taxes.

We can repay debt and

We can save or grow it.

Power Of Money

Money has significant power to rule human life. It provides people with the ability to have the freedom to do what they want, be who they want and go where they want. Life with money will have success, freedom, choice, security, happiness and many more. Without money, we would be reduced to a barter economy. For every penny we spend in life, we need to think twice about whether it is worth it. Life without money shows us what adjustment is, what scarcity or starving for food is.

Impact Of Money

Money has a significant impact on our lives, influencing various aspects such as:

Basic necessities: Money allows us to meet our basic needs such as food, shelter, clothing, and healthcare.

Security: Having a stable source of income provides financial security, allowing us to plan for the future and reducing stress.

Career and personal development: Money provides the means for individuals to invest in themselves and their careers, allowing for personal growth and professional advancement.

Lifestyle: Money affects our lifestyle and the choices we make, from the type of home we live in to the leisure activities we pursue.

Relationships: Money can influence relationships, as disagreements over financial issues are common and can cause stress and tension.

Social status: Money affects social status, as income and wealth can determine access to certain opportunities and experiences.

Mental well-being: Money has a significant impact on mental health, as financial stress and insecurity can cause anxiety and depression.

In conclusion, money affects many aspects of our lives and has the potential to greatly impact our well-being, both positively and negatively. It is important to manage money wisely and to strive for financial stability while also balancing other important aspects of life.

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Financial Need Scholarship Essay Examples (2023)

Jennifer Finetti Oct 2, 2022

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Many scholarships are awarded based on financial need. In order to win these scholarships, you must explain the nature of your financial need. In the guide below, we’ll explain how to write these types of essays to increase your chances of winning. Check out these scholarship essay examples for financial need scholarships.

How to write financial need scholarship essays

Here are some tips for writing financial need scholarship essays:

• Maintain a positive tone throughout the essay . You do not want to come across as self-pitying. Focus on ways you learned and grew from past experiences – how they made you stronger.
• Do not diminish other people’s suffering. This is a competition, but that doesn’t mean you should belittle your competitors. In fact, it would be better to say “I know there are many worthy candidates for this scholarship, but…” than to say “I have suffered far more than…” Show respect in everything you write.
• Frame your essay around a specific event. You may add other details if you have space to, but use one experience as the thesis for your essay.
• Avoid controversial statements and opinions. When discussing events from your past, do not belittle someone else or talk negatively about a group of people. You never know who will be reading your essay.
• Tell your story with honesty. Do not fabricate any details to make yourself sound needy. Your past and present circumstances will speak for themselves.
• Don’t try to sound philosophical. Some students will do this because they think it makes them seem smarter, but it rarely has that effect. Focus on proofreading and writing solid content. That is enough intelligence on its own.
• Discuss your career goals, if possible. You may not have room for this if the essay is short. If you do have room though, discussing your career goals will indicate a plan for the future. Review boards reward determination.

You know why you need financial aid. Tap into the key elements of your circumstances and use them to craft the perfect essay.

Many scholarships are awarded based on financial need. In order to win these scholarships, you must explain the nature of your financial need. In the guide below, we’ve provided examples of scholarship essays for financial need scholarships, along with some tips to help you write your own essay.

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Example 1: “Provide a statement of financial need”

Some scholarships will simply ask for a statement of financial need. There are no parameters to follow. You’re left to write whatever you want. Typically, a statement of financial need is two or three small paragraphs. This will come out to roughly 150-200 words, but it could be slightly longer. Think of this as a cover letter for your scholarship application, highlighting the key elements of your financial need. Don’t build up to the thesis. Get directly to the point.

I am the first person in my family to graduate high school, and thus the first to attend college. Both of my parents dropped out of school when they were teenagers. Because of their limited education, they have always worked in entry-level positions, earning barely enough to put food on the table. My first job I got was at the age of 12 delivering papers, and I have worked hard ever since to relieve pressure from my family. I enrolled in Mississippi’s HELP program during my senior year, which covers tuition and fees at select colleges in the state. I also have a Federal Pell Grant to cover my housing. However, I still need funding for books, supplies, and transportation to campus as needed. I am an engineering student, and our classes come with high fees. My parents cannot contribute to my college expenses, and I cannot work much while I’m in school. This scholarship would help me avoid costly student loans that could take years to repay.  

Example 2: “Describe your financial need in 100 words”

This essay is even shorter than the financial need statement. It may be one of several short answer questions you need to fill out. Working with 100 words is tricky. That only leaves room for about 7-10 sentences, depending on length. Make compelling statements using the fewest words possible.

Also note that grammar errors and misspellings will be much more noticeable in this short essay. Carefully proofread your writing before submitting the scholarship application.

I got pregnant and dropped out of high school when I was 15. By the age of 20, I had two more children, and we all shared a one-bedroom apartment. I worked three jobs to pay the bills, but I never earned much. When my oldest started high school, I did the same. I got my GED at 29 and enrolled in nursing school. My financial status has improved now with a GED, but I’m still a single mom with three kids. I want to become a registered nurse to give my children a stable future. I appreciate your consideration.

Word Count: 100

Example 3: “Explain your financial need in 500 or more words”

This scholarship essay prompt is the opposite of the one above. You have much more room to discuss your circumstances. Talk about your family life, your income, and other restraints that contribute to your financial aid . Try not to throw too much in the essay though. You want the information to flow together seamlessly. Edit carefully, and give the readers a full view of your situation.

My name is Brandon Noviello. I am a sophomore on track to earn my Bachelor of Arts in Sociology. I need financial aid because I do not have a family to contribute to my education. I was in foster care for two years before I aged out of the system, and now I am pursuing a degree completely on my own. I was raised by a wonderful woman who didn’t always have a wonderful life. My mother got pregnant after a sexual assault, but she was determined to raise a smart, successful man. She went through an accelerated program to graduate high school before I was born. She devoted the rest of her life to supporting me, both financially and emotionally. My mother’s family cut ties with her the moment she became pregnant. Life wasn’t easy for us, but I never wanted for anything. She always found a way to keep me fed, dressed, and in school. Unfortunately, she lost a long-term battle with depression when I was 16, and I was put into the foster system until I reached adulthood. I did not have a positive experience with foster care, but I admit, I had no desire to. My mother’s passing weighed heavily on my mind, and I felt an overwhelming sense of anger, regret, and frustration. There was one gleam of hope in my experience though. I had a great social worker. I fought her decisions every step of the way, and she still managed to find a family to get me through high school. My social worker was the only person I invited to my graduation ceremony.  She helped me realize how much one person’s efforts can make a difference in the lives of others. I was only one of countless children she had helped over the years. I researched how to become a social worker so I could help other children like me. My plan is to work with the Department of Human Services in the foster care and adoption division after I graduate. In order to make my dreams a reality, I need financial aid. I am working as a server to pay for food, utilities, and basic necessities, but I do not earn enough to pay for college as well. I go to school during the day and work at night. Furthermore, I have a maximum Pell Grant to cover most of my tuition, but I still need help with other expenses. I did not do well in high school as a result of my mom’s passing, but I have done well in college. I have a 3.25 cumulative GPA, and I have never made less than an A in a degree-related course. As such, I am committed to being successful despite my circumstances, and I want to help young people find that motivation within themselves. I look forward to working with children and teens in the foster system, so I can be the hope that someone else was for me.

Word Count: 498

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• Scholarship Essay

Jennifer Finetti

As a parent who recently helped her own kids embark on their college journeys, Jennifer approaches the transition from high school to college from a unique perspective. She truly enjoys engaging with students – helping them to build the confidence, knowledge, and insight needed to pursue their educational and career goals, while also empowering them with the strategies and skills needed to access scholarships and financial aid that can help limit college costs. She understands the importance of ensuring access to the edtech tools and resources that can make this process easier and more equitable - this drive to support underserved populations is what drew her to ScholarshipOwl. Jennifer has coached students from around the world, as well as in-person with local students in her own community. Her areas of focus include career exploration, major selection, college search and selection, college application assistance, financial aid and scholarship consultation, essay review and feedback, and more. She works with students who are at the top of their class, as well as those who are struggling. She firmly believes that all students, regardless of their circumstances, can succeed if they stay focused and work hard in school. Jennifer earned her MA in Counseling Psychology from National University, and her BA in Psychology from University of California, Santa Cruz.

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• November 8, 2023
• Education Advice

Passion vs Money: Should You Choose a Job You Love or One That Pays?

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Passion vs. money—this is an internal debate that everyone has at some point in their life. On one side, you probably hear parents, relatives, or even strangers telling you to be realistic and find a job that pays well . But on the other side, there are friends or even TED talks of successful people telling you that “following your passion is the secret of success.” And, only naturally, you feel confused and anxiously question whether you should follow your passion blindly with little chance to get money from it or choose a career that you don’t even like just because the job itself seems promising for your future.

But, even so, following your desires can leave a sense of well-being and happiness in everything you do. While there is no doubt that this is a question of opportunity and the hand you’ve been dealt with, following one’s passion seems more appealing to most.  However, how to know the line between when it’s unproductive to pursue a career you’re passionate about and a different (financially better) route?

Benefits of Choosing a Career You Love

In the world we live in today, money is definitely a powerful tool, but choosing to chase it often comes at the price of not being able to do something you love and look forward to every day.

This ancient dilemma is by no means black and white; there are many benefits to a dream job in the grey area. It is worth noting that should you choose to pursue your passion, workdays will seem less monotonous, and there won’t be a dull feeling washing over you when the alarm clock rings. The phrase, “Choose a job you love, and you’ll never work a day in your life,” may seem like a washed-out cliche, but it does hold some truth in it.

In terms of higher motivation, doing the job more effortlessly and passionately, you can see how that sentence got so famous. It’s true that a day of work still remains a day of work, whether you like the job or not. However, the small factors in and around it do change and ultimately have an impact on our overall sense of self.

Career growth

Growth in a career is more probable when the job consists of things that motivate you. You won’t simply be finishing tasks and not thinking about them, nor waiting for the clock to strike five (if you’re doing a 9 to 5 job), so you can leave your workplace. It seems like a minor thing, but it plays a vital role in how far you go in your career. Hence you will be looking for more creative ways to do your job and spot details that you wouldn’t have if you didn’t put your heart into it.

Being passionate about work

Being passionate is directly linked to being productive. If it really is something you’re passionate about, there is a sense of being content with what you have accomplished during the work hours and beyond. The by-product of your work will be something you take pride in, and that will serve in giving you a reason to keep doing it.

Obviously, loving what you do brings in motivation because it is activated by your own desires rather than material gains. Oftentimes in life, we can find ourselves lacking the motivation to do anything, but if someone presents us with something we enjoy, it will possibly make us get out of bed and get working. HuffPost tells the tale of Richard Weinberg , a man who found that salsa was his passion at 49 years old. This discovery led to him participating in multiple dance categories, and it gave him a sense of purpose in his life.

Better health

How much you enjoy your job primarily affects your mental health, as doing something you don’t like on a daily will eventually start to consume you. On the other hand, doing something you enjoy waking up for in the morning can help you not only feel better but even get lost in the work if you’re having problems in other areas of your life. According to a study , the time spent engaging in our passions contributes to lower stress and our happiness. Your work can be some sort of an escape. And when it plays out like this, your productivity may increase due to the focus you shift on your job.

Pleasure in the work environment

It’s no secret that a career you’re passionate about will, in most cases, provide you with a more pleasurable work environment. Chances are that your coworkers will be like-minded, and besides the working part, you’ll have fun during the hours spent interacting with them. Even without that, there is comfort in spending time in a place that has intentions that coincide with yours.

Fulfillment

It goes without saying that you feel fulfilled when you work on something meaningful to you. And especially after achieving the end goal of it. Obstacles you find on your way won’t be as relevant because you will always find a creative way around them. We spend most of our days working, and that alone should be a reason to follow something that leaves us with a feeling of satisfaction during the hours we put in.

Disadvantages of Doing What You Love

As with anything in life, choosing to follow your dream has another side to the coin. While it can turn into something beautiful and life-changing, there’s also the possibility of not being in tune with the current market. Thus, either not allowing you to make a living out of it or make as much as you would ideally want.

According to Forbes , when we tell people to follow their passion, we assume they have one, which is not always the case. There are people whose passions change over time, and that is entirely normal. Plus, you can have interests that aren’t necessarily something you love but merely something you find appealing and intriguing that can also serve as a money-making career.

Now, although it is mostly a personal issue whether you choose to chase your dreams or focus on a career relevant to today’s market, here are some disadvantages of doing what you love.

Your passion might turn into a job

This is a big risk when you start pursuing your dream. We know that work can sometimes be stressful, and it may seem as if deadlines are hovering over our heads, and that treads dangerously close to turning us against our passion. At some point, your passion may not be something you do for yourself, but something that brings in the paycheck at the end of the month, and it can lose the shine it once had.

Another risk you will be taking is that your dream career does not have a promising job outlook . Sure, if your passion lies in IT or business , it is likely that you will be getting a steady salary out of something you enjoy doing. However, more times than not, people have passions that either don’t pay well or the industry is too big to penetrate, which can be problematic and discourage them from pursuing it.

Passions can change

Although this is not always the case, for many people, passions change over time, especially if they have roots in their early years. It’s by no means a bad thing, but it can intervene in your life if you have chosen to pursue your passion as a career. Because we are continually developing and learning new skills , it can be hard to say if your fascination with a certain field may fade over time, but to some, that’s just a risk worth taking.

Benefits of Choosing a Career with a High Salary

For some people, doing what they love and earning enough money for a normal life don’t go hand in hand. For others, it’s a matter of either not having a passion or growing out of a dream they once had. Consequently, these reasons make a high-paying career a valuable option. It is understood that without a steady income, it’s unlikely that passion will be the thing you want to follow.

Of course, following one’s dreams has the emotional rewards that a job that pays your bills is unlikely to offer, but if you aren’t able to afford rent or pay off your student debt, maybe it’s time to postpone your passion and focus on solutions. We’ve all heard that money can’t buy happiness, but is that phrase completely true?

There are many things money can’t buy, but sometimes having it can make many of our problems go away, which is why there’s a list of benefits to choosing a job that provides us with a high salary.

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The obvious one: money

As stated above, this is a prominent perk of choosing to seek a job that will pay you well. A study shows that money can be associated with happiness, but not in the way you’d think. The study shows that people making under $75,000 a year tend to have lower happiness levels. However, past that point, money doesn’t seem to have an effect on the human brain., Furthermore, having a steady income influences our mental and physical health. It is undoubtedly more comfortable knowing that you don’t have to worry about the price of something you like and how you will make ends meet from month to month.

People tend to respect those who are well off. Although it’s considered as an artificial way of gaining respect by some, most of the time, it works. Generally, a high income is associated with success, and we tend to respect successful people. In addition, there is a correlation between “important work” and high salaries, which leads us to think that only a high-paid job is respectable.

There is safety with high income, no doubt. You won’t have to worry about many things that take money to acquire. Plus, a high-earning career is oftentimes placed in a big industry that isn’t going anywhere, so you can find employment opportunities just about anywhere. Keeping your work away from monetary vulnerability is vital, especially when you have a family to take into consideration or other matters of importance to you.

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Disadvantages of Doing Work That Pays Well, But You Don’t Like

As good as money and safety sound, there is a downside to pursuing a career in a field you simply have no connection with. For starters, it will never feel as if you are close to living your dream unless, of course, that dream consists of a high-paying job that you don’t exactly like.

It’s hard to enjoy working in a place that doesn’t seem to motivate you to do the job well, and even when the working hours aren’t long, they are likely to seem so. When you’re stuck performing tasks you see no point in, you may lose focus on working on your skills and may feel lost in the job.

Most well-paying jobs can cast a lot of pressure, especially when it isn’t something you feel excited about, and that can have an impact on your view of life.

Long working hours

Jobs that offer a high payday often tend to go hand-in-hand with long working hours. Even when they don’t, to see that large number at the end of the month, you will probably have to put in a few extra hours, and that can be tiring. This is not always the case, but when it is, it can leave you little to no time to do anything else apart from work. A survey has found that executives and managers with smartphones—who are all well compensated—tend to spend 13.5 hours a workday interacting with work.

Usually, in the world of big money, there is a lot of competition and a lot of things changing rapidly. You have to constantly chase the next big thing and keep fighting for your position within the organization. However, this is not the case with every job, and maybe yours doesn’t really come with this downside. But for those it does, the pressure can oftentimes be overwhelming.

Not focusing on skills

Money-focused jobs are mostly concentrated on making the best out of the skills you already possess. Meanwhile, with a job you start out with because of your love for it, you will probably take time in developing and nurturing skills, like critical thinking , that can guarantee long-term success. Nevertheless, there are jobs out there that guarantee a good salary as well as skill training programs.

How to Decide Between a Job for Money vs. Passion

Choosing between money vs. passion is an ancient dilemma that troubles the minds of many people all over the world to this day. The stakes are pretty high as only a handful of people are fortunate enough to find a job that pays well and fulfills them. This is backed by research, too; According to a survey by Harris Interactive , only 20 percent of people across America feel passionate about their jobs. On the other hand, Pew Research Center found that about half (49%) of American employees are very satisfied with their job.

So, should you try and settle for a promising career without much passion, or should you risk it for a job that you love and fulfills you? Well, there is no simple yes or no answer to this question, and there are many important factors to consider before deciding between a job for money vs. passion. We will try to help you with this critical decision, so keep reading to learn how to choose between a job you love and career growth.

Making money vs. doing what you love: things to consider when choosing

Both of the options have a yin and yang, and sometimes deciding between the two can seem like mission impossible. But, that shouldn’t be the case, and it won’t be if you study your options closely and decide based on facts and feelings equally.

At the end of the day, isn’t your fulfillment and ability to say that you’re happy with your choices the most important thing?

However, it’s not that simple; there are many things to take into consideration when making such a big decision for the path in which you want your life to follow. You have to look at all sides carefully and then decide how and what you should be doing and do it.

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Earning potential

Before diving into a field of interest, you should consider the earning potential it offers. There is a chance that your passion has great pay on the menu as well. Yet, the time when you should consider putting your passion aside—not forgetting it—is when you know you won’t be able to afford it. If it keeps you from life’s necessities, then you can always opt for treating it as a hobby, giving it your free time of the day, and making money in another field.

What you want from life

This is honestly the most crucial element in your decision-making process. Maybe you want to turn your passion into a job you love, but there is a chance that you want to keep far away from responsibilities and only enjoy it in your leisure time. Neither of these is incorrect; it’s merely a point of view. Clearly, none of us are absolutely sure in what we want from our lives in every aspect of it, but having a slight idea might help you come to a conclusion with this dilemma.

Sometimes, you can do both

Doing both does not have one final meaning. It could be that your dream job just so happens to be a career that makes you more than enough money, or you follow passion at the same time as following a different work pathway. Maybe you get lucky and make money off of a passion that you thought would take you nowhere, or you happen to fall in love with a job that you didn’t feel strongly towards at first; the possibilities are endless.

Choosing between a beloved field or the one that will pay your bills can sometimes send you into a spiral of thoughts that is hard to get out of. However, it is a significant decision that will follow you for the most part of your life. When making this judgment, you should look into all the advantages and disadvantages that come with either one of the possibilities. From money and stability to happiness and fulfillment, these all play a role in this puzzle. But, most importantly, remember to listen to the logic and your heart simultaneously because they generally come up with the best verdict together.

Frequently Asked Questions (FAQs):

Is it better to love your job or make more money.

The answer to this question definitely depends on your priorities and values. Some prioritize job satisfaction and fulfillment over a higher salary, while others prioritize financial stability and security. Ultimately, the answer will vary from person to person.

Is salary more important than passion?

There is no universal answer to whether salary is more important than passion. Your decision should be based on your individual circumstances, values, and goals. It’s important to strike a balance that aligns with your overall well-being and allows you to lead a fulfilling life.

Should I follow my career or passion?

It’s possible to find fulfillment and success by aligning your career with your passion, but it may require some creativity, perseverance, and adaptability. The key is to make a decision that aligns with your values, goals, and circumstances and that ultimately brings you satisfaction and happiness in the long run.

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Essay on Money in English for Children and Students

Table of Contents

Essay on Money: Money is the medium used by people to buy required goods and services. It is used as the source to fulfill basic needs and is also a source of comfort in life. Money is the most important source to live a healthy and prosperous life; however, it cannot be compared with the significance of love and care. Both have their own importance and benefits. Nevertheless, money is a useful and necessary commodity to live contentedly disposing all your usual liabilities towards your family and loved ones.

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Long and Short Essay on Money in English

We have provided some simply written essay on money to help your kids to do better in their essay writing competition.

These Money Essay are written in easy English so that student of any class can easily understand it and also reiterate it or write it down, whenever required.

We have divided following essays under long and short essay on money in English according to the need, to help your kids to do better in their school competitions.

These essay on money will prove useful in your school assignments or general discussion with your family and friends.

Money Essay 1 (100 words)

Money is the most basic requirement of the life without which one cannot fulfill his basic needs and requirements of the daily routine. We can never compare the importance of the money with the importance of love or care. When one need money, love cannot fulfill this requirement and if one need love, money cannot fulfill this requirement.

Both are highly required for the healthy life but they have their significance and importance separately. Both are required by us on urgent basis so we cannot rank both on the same scale. We need money everywhere such as to eat food, to drink water or milk, to see TV, news, subscribe newspaper, wear clothe, get admission and many more requirements.

Money Essay 2 (150 words)

Money is the basic requirement of the life without which one cannot imagine a healthy and peaceful life. We need money even buying a little needle. In the modern time, where growth of civilization is going very fast and following western culture, we need more money because of the increasing prices of everything. Earlier there was a system called barter system in which one was allowed to exchange things to get goods however, in the modern one need only money to buy everything.

The importance of money is increasing day by day as the living has become so costly. The significance of money has increased to a great extent in the field of production, consumption, exchange, distribution, public finance and etc. It plays a very crucial role in determining the input, income, employment, output, general price level of anything, etc.

Money Essay 3 (200 words)

In such a costly and competitive society and world, no one of us can live without money. We need money to fulfil our basic needs of the life such as buying food, and other many basic necessities of life which are almost impossible to buy without money. People in the society who are rich and have property are looked as honourable and respectful person of the society however a poor person is seen as hatred without any good impression.

Money increases the position of the person in the society and gives good impression to him. All of us want to be rich by earning more money through good job or business in order to fulfil all the increasing demands of the modern age. However, only few people get this chance of completing their dreams of being a millionaire.

So, money is the thing of great importance all through the life. Money is required by everyone whether he/she is rich or poor ad living in urban areas or rural areas. People in the urban areas are earning more money than the people living in backward or rural areas as the people of the urban areas have more access to the technologies and get more opportunity because of the easy sources.

Essay on Jan Dhan Yojana

Money Essay 4 (250 words)

Money is very much required thing in the life however; it cannot buy things like time, love and true care. It can only fulfil the outer needs of the person and not the inner needs like true love. Now-a-days, everything has become so costly but necessary to buy for living a simple life. And what if we have no money, either we would die or suffer more if saved.

Money has capability to buy anything virtually and helps us a lot throughout the life. By taking the importance of the money in our life we should never destroy or waste the money without any purpose. We should not compare the money and love because both are required separately to run a successful life.

In this competitive world, everyone wants to get good study with higher education from the popular college and university to get good job in order to earn more money. A person needs more money to fulfil the requirement of the all members of the family especially one who is only working person of the family.

He or she needs to fulfil the eating, clothing and living requirements of the family members and for that money is required. Rich people of the society are given particular recognition and popularity however poor people live their life by arranging just food for two times a day. All the changes and differences are just because of the money.

Money Essay 5 (300 words)

Money is really a very important thing for the human beings to lead their life in the satisfactory way. Unlike animals and plants, we need more money everywhere. In order to live in the society, we need to maintain our status and position in the society for which we need money. In order to eat food or drink water, wear cloth, get admission to the school, take medicine or go to the hospital and other many activities we need lots of money. Now the topic arise is, where we got such required money. We need to get higher level study and do hard works to get good job or open our own business which requires more skill and confidence.

Earlier the condition of poor people was very poor because of the pressure of the rich people. They were not helping the poor people and use them only as a servant on the very low salary. However the condition of the poor people has become good as the rule and regulations of the government as been change in order to equalize the condition of both. Now everyone has equal rights to study higher and get good job. Many people understand that money is the origin of the evil in the mind however I do not think so because thinking is the process of human mind and not the creation of money.

I understand and believe that money is the most important key of happiness gifted by the God. It is the human mind to take anything in different ways. Some people take it only to fulfil their physical needs and they never take it heartily however some people understand everything to the money and they can do anything for getting the money such murder, corruption, underworld work, smuggling, promoting bribe, etc.

Money Essay 6 (400 words)

There is no any doubt that money is so essential for our healthy living. Money is almost everything for us to live a life and maintain the good stats in the society. It is the money which fulfils the need of bringing necessary comforts and amenities of the life. If one has money, he/she can get anything in his/her life. It is the money which helps us in developing good personality, improving confidence, makes us able to creditworthiness, improving capacity, increasing capabilities and enhancing our courage to a great level. Without money we feel helpless and alone in this world where no one is ready to help and assist. In the current materialistic world, money is very important and powerful thing without which one cannot live and survive.

Now-a-days, in order to earn more money in wrong ways, bad people are taking help of corruption, bribe, smuggling, murder rich people of the society, and other callous activities by degrading the moral and ethical values of the humanity. Lazy people follow wrong ways to earn money as they understand that these ways are simple and easy however it is not true. One can earn more money in less time and effort but not for long; surely he would be lost in the near future as he is following wrong and weak way. The people who are earning money by following all the rules of humanity earn less money but for long time and they become the high status personality of the society.

People doing corruption save their money as a black money in other countries to keep hidden from the common public and use that money for bad works or increasing their physical luxury. However, common people of the society respects a lot to the people earning money using wrong techniques as they have fear of them and little bit greediness that they can get some money in return whenever required by giving them respect. They are generally called as the bhai or dada or don. Money cannot buy or stay the time as well as cannot give true love and care however highly required by all of us to run the life on the right path. It cannot give time and love however gives happiness, confidence, satisfaction, feeling of well being mentally and physically, makes life easy by solving all the difficulties, and many more.

All the essays on money given above are written by the professional content writer to help students in getting fulfilled their needs and requirements. Essay on money is generally assigned to the students to write something in their own way. Money essay is given under the category of general essay.

Frequently Asked Questions on Money

Who found money.

Money, in various forms like barter or trade, has existed since ancient times. The first coined money is believed to have been created by the Lydians, in what is now Turkey, around 600 BC.

Who said money is life?

This specific quote isn't attributed to a singular famous person. Various interpretations and contexts might exist, but the idea that money plays a significant role in many aspects of life is widely acknowledged.

What is money quotes?

A popular quote about money is, Money can't buy happiness, but it certainly helps.

What is the nature of money?

The nature of money is abstract. It has no intrinsic value but is accepted as a medium of exchange. Its value is determined by trust and the backing of an authority, like a government.

What is the value of money in life?

The value of money in life goes beyond purchasing power. It provides security, freedom, and opportunities, but isn't the sole determinant of happiness or success.

What is the importance of money?

Money is essential as it enables trade, provides financial security, meets daily needs, and offers the potential for a better life. It's a measure of one's ability to afford services and products.

What is money in own words?

Money is a tool that facilitates trade, allowing us to purchase what we need or desire. It represents value and can be saved, spent, or invested.

What is the few lines on money?

Money is a medium of exchange, used to buy goods and services. It acts as a unit of account, a store of value, and is universally accepted in transactions.

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Nostalgia Weakens the Desire for Money

2014, Journal of Consumer Research

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Article Contents

• Nostalgia Fosters Social Connectedness
• Social Connectedness and Money as Interchangeable Resources
• Topping Up and Slacking Off
• The Present Research
• Experiment 1: Willingness to Pay
• Experiment 2: Dictator Game
• Experiment 3: Importance of Money
• Experiment 4: Value of Money
• Experiment 5: Unpleasant Sounds
• Experiment 6: Coin Sizes
• General Discussion
• Data Collection Information
• < Previous

Nostalgia Weakens the Desire for Money

Jannine D. Lasaleta ( [email protected] ) is assistant professor, Department of Marketing, Grenoble École de Management, F710, 12 Rue Pierre Sémard, Grenoble 38000, France. Constantine Sedikides ( [email protected] ) is professor of psychology, Center for Research on Self and Identity, School of Psychology, University of Southampton, Southampton SO17 1BJ, UK. Kathleen D. Vohs ( [email protected] ) is Land O'Lakes Professor of Excellence in Marketing, Carlson School of Management, University of Minnesota, 3-150 321 19th Avenue South, Minneapolis, MN 55455. This research was partially supported by University of Minnesota doctoral dissertation fellowship funds awarded to Jannine D. Lasaleta, and McKnight Foundation funds awarded to Kathleen D. Vohs. This article is based on part of the first author's dissertation. She thanks her dissertation committee: Deborah Roedder John, Vladas Griskevicius, Colin DeYoung, and Ron Faber for their valuable feedback. Correspondence should be addressed to Jannine D. Lasaleta ( [email protected] ).

Mary Frances Luce served as editor and James Burroughs served as associate editor for this article.

• Article contents
• Figures & tables
• Supplementary Data

Jannine D. Lasaleta, Constantine Sedikides, Kathleen D. Vohs, Nostalgia Weakens the Desire for Money, Journal of Consumer Research , Volume 41, Issue 3, 1 October 2014, Pages 713–729, https://doi.org/10.1086/677227

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Nostalgia has a strong presence in the marketing of goods and services. The current research asked whether its effectiveness is driven by its weakening of the desire for money. Six experiments demonstrated that feeling nostalgic decreased people's desire for money. Using multiple operationalizations of desire for money, nostalgia (vs. neutral) condition participants were willing to pay more for products (experiment 1), parted with more money but not more time (experiment 2), valued money less (experiments 3 and 4), were willing to put less effort into obtaining money (experiment 5), and drew smaller coins (experiment 6). Process evidence indicated that nostalgia's weakening of the desire for money was due to its capacity to foster social connectedness (experiments 5 and 6). Implications for price sensitivity, willingness to pay, consumer spending, and donation behavior are discussed. Nostalgia may be so commonly used in marketing because it encourages consumers to part with their money.

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What Makes Us Obsessed With Money?

The way we get rewarded impacts the way we see and desire our rewards..

Posted July 13, 2022 | Reviewed by Davia Sills

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• When employees receive incentives for their performance, they tend to pay more attention to money.
• This increase in attention can lead to the increase in desire for money.
• Employees who receive performance incentives tend to develop a stronger desire for money than those who receive fixed salaries.

Studies have shown over and over again that after a certain point, money does not buy you happiness (Kahneman & Deaton, 2010). In the United States, there is a positive relationship between household income and happiness, but the relationship flattens out once the income reaches about $75,000, the level of income that typically covers a household’s basic needs.

Still, people often fall in love with money. At times, people develop such a strong desire for money that they start sacrificing their time for more money—above and beyond what is healthy. They may give up the activities that are shown to actually increase happiness, like going on vacation (Gilovich & Kumar, 2015), volunteering to help others (Liu & Aaker, 2008), and spending time with friends and family (Hur, Lee-Yoon, & Whillans, 2021).

So, aside from supplying the necessities and some niceties that we need for a good life, why do we love money to the level where it can start to make us sadder? A former hedge fund trader, Sam Polk, calls himself “a former money addict.” And for him, the answer is quite simple: his bonus.

“I would think about my bonus every day,” in the opinion piece in The New York Times , he explained about his time on Wall Street. “Every day for a year, I would think: What is it gonna be? Who’s gonna get paid more than me? I wanted more money for exactly the same reason an alcoholic needs another drink.”

Performance incentives can be found not only on Wall Street but in many professions. Salespeople earn commissions, athletes receive bonuses based on their statistics, and CEOs get stock options. However, my research shows that this common type of incentive can be a major source of an unhealthy obsession with money (Hur & Nordgren, 2016).

Can’t stop thinking about you

Performance incentives contain inherent uncertainty: You are simply not sure how much you will earn each month. We show that this uncertainty causes people to fixate on their rewards.

Imagine you are a salesperson at the local car dealership. You receive a commission every time you score a sale. In this system, your pay is closely tied to your everyday decisions at work, which makes it hard for you to stop thinking about money. As you talk to customers, show them cars, and go through options, you calculate what it might mean for your pay. You think about how much you have made so far this month and how much more you want to make. You wonder how much your coworker might be making.

We suggest that it’s this fixation on money that leads to a stronger desire for money: If you can’t stop thinking about money, you want it more. So people who repeatedly receive performance incentives tend to develop a stronger desire for money over time.

In one of our studies, we sampled actual car salespeople to test this idea (Hur & Nordgren, 2016). Half of them worked in performance-incentive dealerships, where they received very little base salary but huge sales commissions. The other half worked in fixed-salary dealerships, where they received a high base salary but no commission. While the salespeople in both dealerships sell the same cars, we found those in performance-incentive dealerships paid more attention to the monetary rewards at work and had a stronger desire for money compared to those in fixed-salary dealerships.

What happens when you develop a strong desire for money?

We believe this finding is important because of a spillover effect: People bring this desire for money home along with their paycheck. An increased desire for and fixation on money not only affects their behavior at work but also affects their behavior outside of work. We found that people who receive performance incentives make fewer donations, spend more of their time making money, and attach a higher value to money in general.

And what we found is only the tip of the iceberg of what a strong desire for money can do to you. Studies have shown that when people have a strong desire for money, they tend to sacrifice time for self-growth, leisure, and intimate relationships in order to chase money (Diener & Oishi, 2000).

So, it’s worth reflecting on your work and your life priorities. Have you become obsessed with money since you changed your job? Do you think about money a little too much? Does your paycheck have an impact on what you desire, value, and prioritize in life without noticing it?

We spend most of our waking hours working, and most of our income comes from work. Therefore, it is important to understand that our work environment, such as incentive systems, can have significant influences on our life.

Diener, E., & Oishi, S. (2000). Money and happiness: Income and subjective well-being across nations. Culture and subjective well-being, 185-218.

Gilovich, T., & Kumar, A. (2015). We’ll always have Paris: The hedonic payoff from experiential and material investments. Advances in Experimental Social Psychology, 51, 147-187.

Hur, J. D., Lee-Yoon, A., & Whillans, A. V. (2021). Are they useful? The effects of performance incentives on the prioritization of work versus personal ties. Organizational Behavior and Human Decision Processes, 165, 103-114.

Hur, J. D., & Nordgren, L. F. (2016). Paying for performance: Performance incentives increase desire for the reward object. Journal of Personality and Social Psychology, 111(3), 301-316.

Kahneman, D., & Deaton, A. (2010). High income improves evaluation of life but not emotional well-being. Proceedings of the National Academy of Sciences, 107(38), 16489-16493.

Liu, W., & Aaker, J. (2008). The happiness of giving: The time-ask effect. Journal of Consumer Research, 35(3), 543-557.

Julia D. Hur, Ph.D. , is a global network assistant professor of Management and Organizations, NYU, affiliated with Stern School of Business. Professor Hur’s research interests include goals and motivations, incentives, and individual and organizational decision-making.

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Student Essays

Paragraph on Money & its Importance in Life

Paragraph on Money & its Importance in Life:  Money has been an important part of human history. It is believed that the concept of money was developed to make trade easier. Money is anything that is widely accepted in exchange for goods and services.

In early times, people used a barter system for trade. In this system, people exchanged goods and services with each other. For example, a farmer can trade his wheat with a fisherman in exchange for fish. This system was very time-consuming and was not very efficient.

The development of money made trade much easier and efficient. With money, people could buy and sell goods and services much more easily. Money is a medium of exchange and it has intrinsic value. That is, people are willing to accept money in exchange for goods and services because they know that they can use money to buy other goods and services.

There are different types of money in circulation today. The most common type of money is paper money or fiat money. The value of paper money is not backed by any physical commodity, but it has been accepted by people because it is backed by the government. The government has the power to print money and this gives paper money intrinsic value. Other types of money include gold, silver and bitcoins.

Money is an important factor in our personal and professional life due to a host of factors. Firstly, money is required to buy goods and services. We need money to buy food, clothes, shelter, and other basic necessities of life. Secondly, money is important to lead a comfortable life. With money, we can buy luxuries and enjoy a better standard of living. Thirdly, money is needed to start a business. A business requires capital to get started and money is the most common source of capital.

Fourthly, money is important to achieve our goals and dreams in life. We all have some goals and dreams in life such as buying a house, starting our own business, travelling the world, etc. Money helps us to achieve these goals. Fifthly, money is important for security in life. With money, we can have a comfortable retirement, we can buy insurance, and we can deal with unexpected financial emergencies.

Finally, money is important because it gives us social status and power. In our society, people with more money have more power and social status. Money can buy us respect and admiration from others.

>>> Read Also : “Paragraph On Life of a Farmer ”

Money is important in life, but it is not everything. We should never let money control our lives. We should use money to improve our lives and the lives of others. We should not use money to buy things that we don’t need or that will only give us temporary happiness. Instead, we should have balance in life in terms of money and happiness.

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What Kind of Help for Your Essay Can You Get?

What's Good Editing?

What should an editor do for you, what kind of editing should you avoid, proofreading, what's good proofreading, what kind of proofreading should you avoid.

What Do Colleges Think Of You Getting Help With Your Essay?

Who Can/Should Help You?

Advice for editors.

Should You Pay Money For Essay Editing?

The Bottom Line

What's next, what kind of help with your essay can you get.

Rather than talking in general terms about "help," let's first clarify the two different ways that someone else can improve your writing . There is editing, which is the more intensive kind of assistance that you can use throughout the whole process. And then there's proofreading, which is the last step of really polishing your final product.

Let me go into some more detail about editing and proofreading, and then explain how good editors and proofreaders can help you."

Editing is helping the author (in this case, you) go from a rough draft to a finished work . Editing is the process of asking questions about what you're saying, how you're saying it, and how you're organizing your ideas. But not all editing is good editing . In fact, it's very easy for an editor to cross the line from supportive to overbearing and over-involved.

Ability to clarify assignments. A good editor is usually a good writer, and certainly has to be a good reader. For example, in this case, a good editor should make sure you understand the actual essay prompt you're supposed to be answering.

Open-endedness. Good editing is all about asking questions about your ideas and work, but without providing answers. It's about letting you stick to your story and message, and doesn't alter your point of view.

Think of an editor as a great travel guide. It can show you the many different places your trip could take you. It should explain any parts of the trip that could derail your trip or confuse the traveler. But it never dictates your path, never forces you to go somewhere you don't want to go, and never ignores your interests so that the trip no longer seems like it's your own. So what should good editors do?

Help Brainstorm Topics

Sometimes it's easier to bounce thoughts off of someone else. This doesn't mean that your editor gets to come up with ideas, but they can certainly respond to the various topic options you've come up with. This way, you're less likely to write about the most boring of your ideas, or to write about something that isn't actually important to you.

If you're wondering how to come up with options for your editor to consider, check out our guide to brainstorming topics for your college essay .

Help Revise Your Drafts

Here, your editor can't upset the delicate balance of not intervening too much or too little. It's tricky, but a great way to think about it is to remember: editing is about asking questions, not giving answers .

Revision questions should point out:

• Places where more detail or more description would help the reader connect with your essay
• Places where structure and logic don't flow, losing the reader's attention
• Places where there aren't transitions between paragraphs, confusing the reader
• Moments where your narrative or the arguments you're making are unclear

But pointing to potential problems is not the same as actually rewriting—editors let authors fix the problems themselves.

Bad editing is usually very heavy-handed editing. Instead of helping you find your best voice and ideas, a bad editor changes your writing into their own vision.

You may be dealing with a bad editor if they:

• Add material (examples, descriptions) that doesn't come from you
• Use a thesaurus to make your college essay sound "more mature"
• Add meaning or insight to the essay that doesn't come from you
• Tell you what to say and how to say it
• Write sentences, phrases, and paragraphs for you
• Change your voice in the essay so it no longer sounds like it was written by a teenager

Colleges can tell the difference between a 17-year-old's writing and a 50-year-old's writing. Not only that, they have access to your SAT or ACT Writing section, so they can compare your essay to something else you wrote. Writing that's a little more polished is great and expected. But a totally different voice and style will raise questions.

Where's the Line Between Helpful Editing and Unethical Over-Editing?

Sometimes it's hard to tell whether your college essay editor is doing the right thing. Here are some guidelines for staying on the ethical side of the line.

• An editor should say that the opening paragraph is kind of boring, and explain what exactly is making it drag. But it's overstepping for an editor to tell you exactly how to change it.
• An editor should point out where your prose is unclear or vague. But it's completely inappropriate for the editor to rewrite that section of your essay.
• An editor should let you know that a section is light on detail or description. But giving you similes and metaphors to beef up that description is a no-go.

Proofreading (also called copy-editing) is checking for errors in the last draft of a written work. It happens at the end of the process and is meant as the final polishing touch. Proofreading is meticulous and detail-oriented, focusing on small corrections. It sands off all the surface rough spots that could alienate the reader.

Because proofreading is usually concerned with making fixes on the word or sentence level, this is the only process where someone else can actually add to or take away things from your essay . This is because what they are adding or taking away tends to be one or two misplaced letters.

Laser focus. Proofreading is all about the tiny details, so the ability to really concentrate on finding small slip-ups is a must.

Excellent grammar and spelling skills. Proofreaders need to dot every "i" and cross every "t." Good proofreaders should correct spelling, punctuation, capitalization, and grammar. They should put foreign words in italics and surround quotations with quotation marks. They should check that you used the correct college's name, and that you adhered to any formatting requirements (name and date at the top of the page, uniform font and size, uniform spacing).

Limited interference. A proofreader needs to make sure that you followed any word limits. But if cuts need to be made to shorten the essay, that's your job and not the proofreader's.

A bad proofreader either tries to turn into an editor, or just lacks the skills and knowledge necessary to do the job.

Some signs that you're working with a bad proofreader are:

• If they suggest making major changes to the final draft of your essay. Proofreading happens when editing is already finished.
• If they aren't particularly good at spelling, or don't know grammar, or aren't detail-oriented enough to find someone else's small mistakes.
• If they start swapping out your words for fancier-sounding synonyms, or changing the voice and sound of your essay in other ways. A proofreader is there to check for errors, not to take the 17-year-old out of your writing.

What Do Colleges Think of Your Getting Help With Your Essay?

Admissions officers agree: light editing and proofreading are good—even required ! But they also want to make sure you're the one doing the work on your essay. They want essays with stories, voice, and themes that come from you. They want to see work that reflects your actual writing ability, and that focuses on what you find important.

On the Importance of Editing

Get feedback. Have a fresh pair of eyes give you some feedback. Don't allow someone else to rewrite your essay, but do take advantage of others' edits and opinions when they seem helpful. ( Bates College )

Read your essay aloud to someone. Reading the essay out loud offers a chance to hear how your essay sounds outside your head. This exercise reveals flaws in the essay's flow, highlights grammatical errors and helps you ensure that you are communicating the exact message you intended. ( Dickinson College )

On the Value of Proofreading

Share your essays with at least one or two people who know you well—such as a parent, teacher, counselor, or friend—and ask for feedback. Remember that you ultimately have control over your essays, and your essays should retain your own voice, but others may be able to catch mistakes that you missed and help suggest areas to cut if you are over the word limit. ( Yale University )

Proofread and then ask someone else to proofread for you. Although we want substance, we also want to be able to see that you can write a paper for our professors and avoid careless mistakes that would drive them crazy. ( Oberlin College )

On Watching Out for Too Much Outside Influence

Limit the number of people who review your essay. Too much input usually means your voice is lost in the writing style. ( Carleton College )

Ask for input (but not too much). Your parents, friends, guidance counselors, coaches, and teachers are great people to bounce ideas off of for your essay. They know how unique and spectacular you are, and they can help you decide how to articulate it. Keep in mind, however, that a 45-year-old lawyer writes quite differently from an 18-year-old student, so if your dad ends up writing the bulk of your essay, we're probably going to notice. ( Vanderbilt University )

Now let's talk about some potential people to approach for your college essay editing and proofreading needs. It's best to start close to home and slowly expand outward. Not only are your family and friends more invested in your success than strangers, but they also have a better handle on your interests and personality. This knowledge is key for judging whether your essay is expressing your true self.

Parents or Close Relatives

Your family may be full of potentially excellent editors! Parents are deeply committed to your well-being, and family members know you and your life well enough to offer details or incidents that can be included in your essay. On the other hand, the rewriting process necessarily involves criticism, which is sometimes hard to hear from someone very close to you.

A parent or close family member is a great choice for an editor if you can answer "yes" to the following questions. Is your parent or close relative a good writer or reader? Do you have a relationship where editing your essay won't create conflict? Are you able to constructively listen to criticism and suggestion from the parent?

One suggestion for defusing face-to-face discussions is to try working on the essay over email. Send your parent a draft, have them write you back some comments, and then you can pick which of their suggestions you want to use and which to discard.

Teachers or Tutors

A humanities teacher that you have a good relationship with is a great choice. I am purposefully saying humanities, and not just English, because teachers of Philosophy, History, Anthropology, and any other classes where you do a lot of writing, are all used to reviewing student work.

Moreover, any teacher or tutor that has been working with you for some time, knows you very well and can vet the essay to make sure it "sounds like you."

If your teacher or tutor has some experience with what college essays are supposed to be like, ask them to be your editor. If not, then ask whether they have time to proofread your final draft.

Guidance or College Counselor at Your School

The best thing about asking your counselor to edit your work is that this is their job. This means that they have a very good sense of what colleges are looking for in an application essay.

At the same time, school counselors tend to have relationships with admissions officers in many colleges, which again gives them insight into what works and which college is focused on what aspect of the application.

Unfortunately, in many schools the guidance counselor tends to be way overextended. If your ratio is 300 students to 1 college counselor, you're unlikely to get that person's undivided attention and focus. It is still useful to ask them for general advice about your potential topics, but don't expect them to be able to stay with your essay from first draft to final version.

Friends, Siblings, or Classmates

Although they most likely don't have much experience with what colleges are hoping to see, your peers are excellent sources for checking that your essay is you .

Friends and siblings are perfect for the read-aloud edit. Read your essay to them so they can listen for words and phrases that are stilted, pompous, or phrases that just don't sound like you.

You can even trade essays and give helpful advice on each other's work.

If your editor hasn't worked with college admissions essays very much, no worries! Any astute and attentive reader can still greatly help with your process. But, as in all things, beginners do better with some preparation.

First, your editor should read our advice about how to write a college essay introduction , how to spot and fix a bad college essay , and get a sense of what other students have written by going through some admissions essays that worked .

Then, as they read your essay, they can work through the following series of questions that will help them to guide you.

Introduction Questions

• Is the first sentence a killer opening line? Why or why not?
• Does the introduction hook the reader? Does it have a colorful, detailed, and interesting narrative? Or does it propose a compelling or surprising idea?
• Can you feel the author's voice in the introduction, or is the tone dry, dull, or overly formal? Show the places where the voice comes through.

Essay Body Questions

• Does the essay have a through-line? Is it built around a central argument, thought, idea, or focus? Can you put this idea into your own words?
• How is the essay organized? By logical progression? Chronologically? Do you feel order when you read it, or are there moments where you are confused or lose the thread of the essay?
• Does the essay have both narratives about the author's life and explanations and insight into what these stories reveal about the author's character, personality, goals, or dreams? If not, which is missing?
• Does the essay flow? Are there smooth transitions/clever links between paragraphs? Between the narrative and moments of insight?

Reader Response Questions

• Does the writer's personality come through? Do we know what the speaker cares about? Do we get a sense of "who he or she is"?
• Where did you feel most connected to the essay? Which parts of the essay gave you a "you are there" sensation by invoking your senses? What moments could you picture in your head well?
• Where are the details and examples vague and not specific enough?
• Did you get an "a-ha!" feeling anywhere in the essay? Is there a moment of insight that connected all the dots for you? Is there a good reveal or "twist" anywhere in the essay?
• What are the strengths of this essay? What needs the most improvement?

Should You Pay Money for Essay Editing?

One alternative to asking someone you know to help you with your college essay is the paid editor route. There are two different ways to pay for essay help: a private essay coach or a less personal editing service , like the many proliferating on the internet.

My advice is to think of these options as a last resort rather than your go-to first choice. I'll first go through the reasons why. Then, if you do decide to go with a paid editor, I'll help you decide between a coach and a service.

When to Consider a Paid Editor

In general, I think hiring someone to work on your essay makes a lot of sense if none of the people I discussed above are a possibility for you.

If you can't ask your parents. For example, if your parents aren't good writers, or if English isn't their first language. Or if you think getting your parents to help is going create unnecessary extra conflict in your relationship with them (applying to college is stressful as it is!)

If you can't ask your teacher or tutor. Maybe you don't have a trusted teacher or tutor that has time to look over your essay with focus. Or, for instance, your favorite humanities teacher has very limited experience with college essays and so won't know what admissions officers want to see.

If you can't ask your guidance counselor. This could be because your guidance counselor is way overwhelmed with other students.

If you can't share your essay with those who know you. It might be that your essay is on a very personal topic that you're unwilling to share with parents, teachers, or peers. Just make sure it doesn't fall into one of the bad-idea topics in our article on bad college essays .

If the cost isn't a consideration. Many of these services are quite expensive, and private coaches even more so. If you have finite resources, I'd say that hiring an SAT or ACT tutor (whether it's PrepScholar or someone else) is better way to spend your money . This is because there's no guarantee that a slightly better essay will sufficiently elevate the rest of your application, but a significantly higher SAT score will definitely raise your applicant profile much more.

Should You Hire an Essay Coach?

On the plus side, essay coaches have read dozens or even hundreds of college essays, so they have experience with the format. Also, because you'll be working closely with a specific person, it's more personal than sending your essay to a service, which will know even less about you.

But, on the minus side, you'll still be bouncing ideas off of someone who doesn't know that much about you . In general, if you can adequately get the help from someone you know, there is no advantage to paying someone to help you.

If you do decide to hire a coach, ask your school counselor, or older students that have used the service for recommendations. If you can't afford the coach's fees, ask whether they can work on a sliding scale —many do. And finally, beware those who guarantee admission to your school of choice—essay coaches don't have any special magic that can back up those promises.

Should You Send Your Essay to a Service?

On the plus side, essay editing services provide a similar product to essay coaches, and they cost significantly less . If you have some assurance that you'll be working with a good editor, the lack of face-to-face interaction won't prevent great results.

On the minus side, however, it can be difficult to gauge the quality of the service before working with them . If they are churning through many application essays without getting to know the students they are helping, you could end up with an over-edited essay that sounds just like everyone else's. In the worst case scenario, an unscrupulous service could send you back a plagiarized essay.

Getting recommendations from friends or a school counselor for reputable services is key to avoiding heavy-handed editing that writes essays for you or does too much to change your essay. Including a badly-edited essay like this in your application could cause problems if there are inconsistencies. For example, in interviews it might be clear you didn't write the essay, or the skill of the essay might not be reflected in your schoolwork and test scores.

Should You Buy an Essay Written by Someone Else?

Let me elaborate. There are super sketchy places on the internet where you can simply buy a pre-written essay. Don't do this!

For one thing, you'll be lying on an official, signed document. All college applications make you sign a statement saying something like this:

I certify that all information submitted in the admission process—including the application, the personal essay, any supplements, and any other supporting materials—is my own work, factually true, and honestly presented... I understand that I may be subject to a range of possible disciplinary actions, including admission revocation, expulsion, or revocation of course credit, grades, and degree, should the information I have certified be false. (From the Common Application )

For another thing, if your academic record doesn't match the essay's quality, the admissions officer will start thinking your whole application is riddled with lies.

Admission officers have full access to your writing portion of the SAT or ACT so that they can compare work that was done in proctored conditions with that done at home. They can tell if these were written by different people. Not only that, but there are now a number of search engines that faculty and admission officers can use to see if an essay contains strings of words that have appeared in other essays—you have no guarantee that the essay you bought wasn't also bought by 50 other students.

• You should get college essay help with both editing and proofreading
• A good editor will ask questions about your idea, logic, and structure, and will point out places where clarity is needed
• A good editor will absolutely not answer these questions, give you their own ideas, or write the essay or parts of the essay for you
• A good proofreader will find typos and check your formatting
• All of them agree that getting light editing and proofreading is necessary
• Parents, teachers, guidance or college counselor, and peers or siblings
• If you can't ask any of those, you can pay for college essay help, but watch out for services or coaches who over-edit you work
• Don't buy a pre-written essay! Colleges can tell, and it'll make your whole application sound false.

Ready to start working on your essay? Check out our explanation of the point of the personal essay and the role it plays on your applications and then explore our step-by-step guide to writing a great college essay .

Using the Common Application for your college applications? We have an excellent guide to the Common App essay prompts and useful advice on how to pick the Common App prompt that's right for you . Wondering how other people tackled these prompts? Then work through our roundup of over 130 real college essay examples published by colleges .

Stressed about whether to take the SAT again before submitting your application? Let us help you decide how many times to take this test . If you choose to go for it, we have the ultimate guide to studying for the SAT to give you the ins and outs of the best ways to study.

Anna scored in the 99th percentile on her SATs in high school, and went on to major in English at Princeton and to get her doctorate in English Literature at Columbia. She is passionate about improving student access to higher education.

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Harry and Meghan's Archewell charity found delinquent over unpaid fees

LOS ANGELES — The charity founded by Prince Harry and his wife, Meghan , has been found delinquent in California and cannot raise money because the state has determined Archewell Foundation has not paid its annual registration fees or submitted an annual report.

A source close to Archewell said that the group’s initial check was lost in the mail but that payment has been resubmitted. The issue is expected to be resolved within days, the source said.

California Attorney General Rob Bonta issued a notice of delinquency to Archewell Foundation this month, noting that the organization's renewal information was incomplete. State records show that the foundation's last renewal was in May 2023 and that it has officially been marked "delinquent," meaning the charity cannot raise money.

The Duke and Duchess of Sussex have been in Nigeria bringing attention to causes they have long supported, including wounded veterans. Harry, a founding patron of the Invictus Games, played a game of sitting volleyball with wounded former soldiers.

The couple launched Archewell Foundation in 2020, after they stepped down from their duties as senior members of the royal family and moved out of the United Kingdom . Its mission statement is simply "Show up, do good."

"We consciously partner with key organizations and leaders to identify immediate needs, build meaningful initiatives, and drive long-term change," the foundation's website says.

According to the foundation, it backs programs that involve supporting parents, empowering girls, advocating for mental health and connecting families of Afghan refugees with the communities where they have resettled.

Archewell is also supporting a playground in Uvalde, Texas, in honor of the shooting that killed 19 children at Robb Elementary School.

Diana Dasrath reported from Los Angeles and Doha Madani from New York.

Diana Dasrath is entertainment producer and senior reporter for NBC News covering all platforms.

Doha Madani is a senior breaking news reporter for NBC News. Pronouns: she/her.

Takeaways from Day 18 of the Trump hush money trial

Donald Trump attorney Todd Blanche raised his voice and flailed his arms at Michael Cohen, accusing the prosecution’s star witness of making up a phone conversation with Trump just before he sent $130,000 to Stormy Daniels’ attorney in October 2016.

Blanche confronted Cohen with text messages he sent with Keith Schiller – whom Cohen had said put Trump on the phone – which were unrelated to anything having to do with Trump or Daniels.

It was the most dramatic moment of the cross-examination of the key witness in the hush money case, and the clearest example yet of the defense’s effort to cast doubt on Cohen’s memory of phone calls and other significant interactions with Trump in 2016.

Court is off Friday so Trump can attend the high school graduation of his son, Barron. Cross-examination of Cohen will resume Monday and it’s possible summations could begin as soon as Tuesday.

Here are the takeaways from Day 18 of the Trump hush money trial:

A heated confrontation over a key phone call

It took several hours of cross-examination before Blanche finally turned to the evidence directly related to the case.

But it didn’t take long for Blanche to make his biggest rhetorical flourish – and perhaps his biggest blow to Cohen’s credibility – of the six-hour cross-cross examination so far, focusing on an October 24, 2016, phone call that Trump’s bodyguard placed to Cohen.

Under questioning from prosecutors on Monday, Cohen testified that he was reaching out to Schiller to speak to Trump that day because he needed “to discuss the Stormy Daniels matter and the resolution of it.”

But on Thursday, Blanche read Cohen a text that he sent to Schiller minutes before that call: “Who can I speak to regarding harassing calls to my cell and office the dope forgot to block his number.”

“Call me,” Blanche said Schiller responded.

Blanche says the texts show that at 8:04 p.m. Cohen texted Schiller the phone number of the teenager prank calling him.

Blanche used the texts to challenge Cohen’s account of the call. “That was a lie, you did not talk to President Trump, you talked to Keith Schiller – you can admit it,” he pressed.

Cohen calmly responded, “No sir, I don’t know that it’s accurate.”

Cohen said that part of the call was about the prank call, while adding, “I knew that Keith was with Mr. Trump at the time and there was more potentially than this.”

Blanche began pacing and waving his arms. His voice raised in volume and tone and he began talking quickly: “But now your memory is you were testifying truthfully on Tuesday. A 1 minute, 36 second phone call and you had enough time to update Schiller about all the problems you were having and also update President Trump about the status of Stormy Daniels’ situation because you had to keep him informed.”

“I always ran everything by the boss immediately, and in this case, it would have been saying everything had been taken care of, it’s been resolved,” Cohen responded.

Blanche continued to press on Cohen’s memory. “Was it true for just that phone calls, or was it true for other phone calls too?”

“You just said you don’t recall a phone call back in 2016. That is not what you testified to on Tuesday,” Blanche said, his voice crescendoing to a high-pitch just before the lunch break.

In the afternoon, Cohen defended his memory of his calls – arguing that while he’s had thousands of calls and did not remember all of the circumstances surrounding them, he did remember the details of important ones.

“Because these phone calls are things that I have been talking about for the last six years. They are and they were extremely important and they were all-consuming,” Cohen said. “So while I did not know that it took place at 8:02 p.m., what I did recall is the conversation that I had had.”

Cohen navigates years of inconsistent statements

Trump’s lawyer spent hours tediously moving through inconsistent statements that Cohen has made over the years to knock his credibility, although much of the content he was raising had little to do with the issues on trial.

Blanche questioned Cohen on myriad of topics, including the recanting of his 2018 guilty plea on tax charges, whether he wanted to work in the White House and what he’s said about a pardon from Trump.

Blanche hammered Cohen with repetitive questions about his 2018 guilty plea, which Cohen has since said was in part a lie under oath. Cohen said he’s taken accountability for the charges like tax fraud that he pleaded guilty to at the time, but he says he still blames others and was the victim of a corrupt prosecution.

“You blame a lot of people over the years for the conduct that you were convicted of?” Blanche asked.

“I blame people, yes,” Cohen responded.

Blanche also challenged Cohen on why federal and state prosecutors never took him on as a cooperator despite his guilty plea to campaign finance charges in connection to the alleged hush money scheme with Daniels.

Blanche suggested Cohen was unreliable and only acted like he’d taken accountability for the crimes when he pleaded guilty in order to get a reduced sentence.

Cohen pressed on desire for a pardon

Blanche also challenged Cohen on his desires to be in Trump’s White House, as revealed in private communications with his daughter and people like Pastor Darrell Scott, who Cohen asked to put in a good word with Trump.

Still, Cohen maintained on the stand Thursday that he only ever wanted to be Trump’s personal attorney – the position he held until he became the subject of a federal investigation.

Cohen also conceded on cross-examination that while he testified publicly to Congress that he never asked and would never accept a pardon from Trump, he actually did seek out a pardon from Trump through his attorney and later told lawmakers as much behind closed doors.

On the stand, Cohen admitted he explored a pardon with his lawyers because Trump “dangled” the idea of pardoning him and said he “wanted this nightmare to end.”

Cohen navigated the confrontation with a cool manner all day but largely told the jury to believe what he says now, not what he’s said in the past, including under oath.

Trump perks up for Cohen’s cross

For much of the week while Cohen has been on the witness stand, Trump has been taking in the trial with his eyes shut.

Trump hardly reacted to Cohen’s testimony during a day-and-a-half of prosecutors’ questions, and he even seemed disinterested during the first half of Blanche’s questioning of him.

Trump’s tuned-out body language has appeared to become part of his strategy this trial to not act out as he did previously during the New York civil fraud trial last fall and the E. Jean Carroll defamation case in January.

But Trump’s demeanor shifted on Thursday afternoon as the attention turned to Cohen and the media. He sat up in his chair facing directly toward Cohen as Blanche quizzed the witness about his conversations with New York Times reporter Maggie Haberman – who has come up previously in the trial in the form of a Trump tweet attacking her in 2018.

When Cohen told Blanche he has recorded roughly 40 conversations with reporters over the years, Trump turned to his attorney Susan Necheles and they both smirked at the response.

As for Cohen, he kept a calm demeanor throughout the testimony, choosing his words carefully and speaking slowly in his answers, even when Blanche’s pacing sped up considerably. Cohen frequently asked Blanche to repeat questions to him, particularly after an objection from prosecutor Susan Hoffinger was overruled by the judge.

The contrast of Cohen’s approach to his testimony was on display for the jury when Blanche played a recording of Cohen on his “Mea Culpa” podcast from May 30, 2023. The podcast Cohen spoke much more rapidly and with a hefty dose of excitement when discussing the indictment.

“I truly f**king hope that this man ends up in prison,” Cohen says on the podcast. “But revenge is a dish best served cold, and you better believe I want this man to go down and rot inside for what he did to my family.”

Trial nearing an end?

Before leaving for the weekend, Merchan told the lawyers to be prepared to give summations on Tuesday – meaning the jury could have the case as early as next week.

Prosecutors told Merchan they have no other witnesses to call after Cohen is off the stand, and the defense said it plans to call one campaign finance expert, though that is not set in stone.

Blanche said the defense could still choose to call additional witnesses to challenge testimony, and Trump’s team maintains it has not made a decision on whether the former president will testify in his own defense.

There’s also the possibility, as CNN has reported , that former Cohen attorney Bob Costello could appear. Costello made an impression during a House Judiciary subcommittee hearing Wednesday where he repeatedly attacked Cohen and said “virtually every statement” Cohen made on the stand about Costello was a lie.

The other complicating factor is there are only three days of court next week leading up to the Memorial Day holiday.

“It’s not ideal for there to be a big lapse” between summations and when the jury will be given final instructions by the judge before beginning deliberations, Merchan told the lawyers on Thursday.

Merchan didn’t say what that would mean for next week’s schedule – an early start or going later was one option, he suggested – but it all indicates that the judge believes the jury could end up beginning deliberations next week.

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• International

Israel-Hamas war

World's top golfer arrested

Michael Cohen testifies in Trump hush money trial

By CNN's Kara Scannell, Lauren Del Valle and Jeremy Herb in the courthouse

Key takeaways from Michael Cohen's first day of testimony

From CNN's  Jeremy Herb, Lauren del Valle and Kara Scannell

Michael Cohen implicated his former boss  Donald Trump  in the hush money scheme to pay Stormy Daniels just days before the 2016 election, saying he doled out $130,000 at Trump’s direction and was promised reimbursement.

Cohen’s testimony ties together the prosecution’s allegations that Trump broke the law by falsifying business records to reimburse Cohen and conceal the hush money payment that Cohen said he made at Trump’s direction. Trump has pleaded not guilty and denies having an affair with Daniels.

Here are some of the key takeaways from Cohen's first day on the stand:

• Cohen ties Trump to the Daniels hush money payment: Through roughly five hours of testimony Monday, Cohen walked jurors through how he worked with former National Enquirer editor David Pecker on Trump’s behalf during the 2016 campaign to kill negative stories; how he kept Trump apprised of his hush money negotiations with Keith Davidson, the attorney for Daniels and former Playboy model Karen McDougal; and how Trump approved and was aware of how Cohen would be falsely repaid in 2017 for the Daniels payment as legal services.
• Cohen ties the hush money reimbursement to Trump, too: Trump is charged with 34 counts of falsifying business records – 11 invoices, 12 vouchers and 11 checks – records that prosecutors say stem from the monthly reimbursements Cohen received in 2017 for the hush money payment he made to Daniels. On Monday, jurors heard through Cohen for the first-time evidence directly connecting Trump to those reimbursements.
• Cohen describes being Trump’s protector: As Cohen described each media story he killed and nondisclosure agreement he locked down ahead of the 2016 election, it was always in the name of protecting Trump. When it came to the settlement agreement with Daniels, Cohen said he kept control of a document revealing the identities of “David Dennison” and “Peggy Peterson” so that he could protect Trump. And he testified that he used the Essential Consultants LLC to facilitate the payment to Daniels “to protect him and to isolate him from the transaction.” Hoffinger asked Cohen whether he would sometimes bully people. Cohen confirmed he would.

Cohen is expected back in court tomorrow

Donald Trump's ex-attorney and fixer  Michael Cohen  took the stand today to testify about the  Stormy Daniels hush money payment  and Trump's  alleged involvement in the scheme .

He's expected to face more questions tomorrow. Court proceedings are expected to resume at 9:30 a.m. ET.

Michael Cohen took the stand as a key witness in Donald Trump's hush money trial. Here's what he said

From CNN's Elise Hammond

Michael Cohen took the stand on Monday in Donald Trump’s hush money trial in New York.

When he was Trump’s personal attorney, Cohen made the $130,000 payment to adult film actress Stormy Daniels before the 2016 election. He landed in federal prison  over that transaction for breaking campaign finance laws. 

Through previous witnesses’ testimony, jurors have already heard plenty about Cohen. They have painted an unflattering portrait of an aggressive, impulsive and unlikeable attorney. The former “fixer,” now a critical witness , testified about the payment and Trump’s alleged involvement.

Here’s a look at what Cohen said on the stand today:

• Relationship with Trump: Cohen said he worked directly for Trump , not the general counsel's office at the Trump Organization. He said working with the press was a “portion” of his job and would sometimes call news outlets and ask them to redact or take articles down. Cohen testified that it was required for him to keep Trump updated about his work.
• On the presidential run: Cohen said Trump was worried about stories about his personal life coming out as he weighed a run for president, with Trump saying, “Just be prepared there’s going to be a lot of women coming forward,” according to Cohen. He testified that he didn’t have a formal role in the 2016 campaign, but he used his press contacts to be a surrogate .
• The doorman story: Cohen said he learned about the doorman story circulating about Trump having fathered "a love child” and testified Trump told him to “handle it.” He confirmed that the strategy was to take the story “off the market” for $30,000, and Trump was grateful it wouldn’t be published. Cohen said he went to Trump to tell him the agreement was completed , as well as to get credit for executing it. 
• Karen McDougal: He said Trump told him to make sure the story about former Playboy model Karen McDougal didn’t get released, which he believed meant acquiring it . Cohen recounted a call with Pecker and Trump about the story. When Cohen told Trump the cost of controlling the McDougal story, Cohen testified Trump said, “No problem, I’ll take care of it.” Later, David Pecker, former CEO of the National Enquirer’s parent company, spoke to Cohen and insisted on being reimbursed .
• "Access Hollywood" tape: When he learned about the video , released by the Washington Post, Cohen said he wanted to "ensure" things were being taken care of properly and that Trump would be protected . He testified that it was Melania Trump’s idea to say the language in the video “was locker room talk.” Cohen recalled thinking the tape would impact women voters.
• Stormy Daniels: When he initially told Trump about the Stormy Daniels story, Cohen testified that Trump said, “Women are going to hate me” and that it would be “a disaster for the campaign.” Cohen said his former boss told him to work with Pecker to “take care of it.” As the agreement unfolded, Cohen said he kept Trump informed on the deal with Daniels.
• Timing of Daniel’s payment: Trump wanted the situation with Daniels to be under wraps until after the election “because if I win, it will have no relevance because I'm president. And if I lose, I don't even care,” Trump said, according to Cohen.
• Making the payment: Cohen said he spoke with Trump twice to get his sign-off before making the payment to Daniels using a company he created , Essential Consultants LLC. He said he would have never gone forward to the bank without Trump’s approval. He testified he also let Trump know he signed the agreement with Daniels.
• Repayment to Cohen: Trump Organization CFO Allen Weisselberg told Cohen he would be paid $420,000 for Daniel’s payment over 12 months . He testified that the payment series set up for future legal services was actually a reimbursement .

Trump rails against judge and says there's no crime in remarks outside of Manhattan courthouse

From CNN's Maureen Chowdhury

Donald Trump slammed Judge Juan Merchan and called the hush money trial a "scam" as he left the Manhattan courthouse on Monday.

“This is a scam, I think it’s it’s terrible thing that’s happening to democracy in this country,” Trump said. He then called the case a "rigged deal" and Merchan "conflicted." 

He went on to read comments made by his allies regarding the case.

“There’s no fraud here, there’s no crime here," Trump said.

Trump's motorcade leaves the courthouse

Donald Trump's motorcade has left the courthouse. His car slowed down so he could wave and flash a thumbs up to supporters gathered outside.

Testimony in Trump's trial continues tomorrow.

Afternoon sketches show Michael Cohen on the stand as his former boss sits nearby in court

From CNN Digital's Photo Desk

Sketch artists Christine Cornell and Jane Rosenberg have been providing us with courtroom perspectives throughout the trial as cameras are not allowed inside during proceedings.

Here are some of their latest sketches from Michael Cohen’s testimony Monday afternoon:

More sketches from Cohen's testimony can be seen here .

The final moments today in the courtroom: Trump stacks his papers and Cohen nods toward jurors

As Judge Juan Merchan gives his daily instructions to the jury, Donald Trump is stacking up his papers and whispering with attorney Todd Blanche.

His hands are folded on the table and he then flips through the papers one more time.

Michael Cohen, for his part, pans the courtroom and then looks down at his hands as Merchan is speaking.

Cohen gives a small smile and nods toward the jurors as Merchan dismisses them for the day.

The key points of Michael Cohen's testimony about how he was reimbursed for the hush money deal

From CNN's Eric Levenson

Michael Cohen finished the day’s testimony by explaining how he, former Trump Org. CFO Allen Weisselberg and Donald Trump agreed to reimburse him for the $130,000 hush money payment to Stormy Daniels.

After Trump won the election, Cohen pitched Trump on a set up in which he would serve as Trump’s personal attorney for free but would be paid by companies hoping for insights on Trump.

In early January, Cohen went to Weisselberg about being reimbursed for the $130,000 payment, and Weisselberg agreed, Cohen testified. He showed Weisselberg the wire transfer document, and Weisselberg took handwritten notes calculating what Trump owed Cohen based on their conversations.

Weisselberg suggested Cohen take the money as income rather than as untaxed reimbursements, Cohen testified. "I didn’t really think about it. I just wanted to get my money back,” he said.

According to Cohen, they agreed that Trump would pay him $420,000 in all: $130,000 to reimburse him for the payment to Daniels, $50,000 to reimburse him for unrelated tech services, $180,000 to account for estimated taxes and a $60,000 bonus. The payments would be made over 12 months “as like a legal service rendered since I was then going to be given the title of personal attorney to the president,” Cohen testified.

They presented the plan to Trump, and he approved it, Cohen said. The payments were designed to look like future legal services, but they were actually reimbursement for the Daniels’ deal, he testified.

Cohen never actually put together a retainer agreement for any future work he'd do for Trump, “because I knew there was going to be no compensation,” he testified.

Court is breaking for the day

The court is breaking for the day and the jury is leaving the courtroom.

Donald Trump's ex-attorney Michael Cohen is expected to continue to be questioned by prosecutor Susan Hoffinger tomorrow.

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