Things You Should Know About Finance

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

The objective of finance is to obtain money from another source. Money or financial resources are the commodity which give rise to wealth creation and economy.

The aim of financial services provided by a bank or a financial institution is to provide quick, easy and convenient access to funds and make money generation easy for the borrowers, in the same way as in the market place. Financial institutions use many ways to offer funds to borrowers. Some of these are through the check clearing service, loan transactions, liquidity, investment services, etc. In any case, no individual should be taken to think that money plays a vital role in making the world go round.

The nature of money in our society is totally different from the one in the market. Here, money is not a power but a medium. However, it is an important part of the market, which makes the economic life possible in the society. There is no real distinction between money and anything else in our society.

The most essential currency in our society is money, which is used for payment and purchase of all commodities and other items. Thus, the role of money in society is significant. It is seen as the universal currency and is very much used. Money is the basic resource, which is being used in all transactions.

People generally know only two forms of money, namely, fiat and credit money. Although credit money is acknowledged more frequently, but as far as the citizens of the world are concerned, it is the latter form that prevails. Though credit money has many disadvantages, including inflation, instability and rising cost of goods, as far as the governments are concerned, it is seen as a highly beneficial system.

In all the cases, money is a very useful thing. Money comes in various shapes and forms. Currency notes, coins, bonds, shares, etc. However, the most common form of money is the coin.

Apart from its multiple advantages, money can also be advantageous to you, if you get the most available form of it. The best type of money in our society is coin. This is mainly because it is available almost always, in abundance, and it is actually a very difficult task to change coins.

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

US approves first new Alzheimer’s drug in 20 yearson June 7, 2021 at 4:33 pm

There has been controversy around aducanumab, which targets the cause rather than the symptoms.There has been controversy around aducanumab, which targets the cause rather...

House Democrats propose a new coronavirus stimulus relief bill. It includes a second round of $1,200 checks

KEY POINTS Democrats in the House of Representatives put forward another stimulus package on Tuesday. The bill calls for a second round of $1,200...

Angel City FC: Eni Aluko on working for the Los Angeles franchiseon March 8, 2022 at 6:21 am

With Angel City FC kicking off their debut NWSL campaign this month, Eni Aluko tells BBC Sport about moving to LA and meeting the...

Afghanistan crisis: How America watched as Taliban ‘won’ the waron August 17, 2021 at 12:40 pm

US military veterans and Afghan Americans reflect on a dramatic day - and the two-decade conflict.

What is COP27 and why is it important?on November 7, 2022 at 1:25 pm

This year's climate summit comes amid spiralling energy costs and diplomatic tensions.This year's climate summit comes amid spiralling energy costs and diplomatic tensions.
Home of Science
Follow me