What are the Functions of Money?

[Suba]

Every day we always transact using money, whether receiving, paying, sending or just saving in the bank, currency has also become a country's logo, such as USD, AUD, PESO, YEN, NAIRA, INR, IDR etc. and each currency from a country will have a different value (exchange rate), even a country's economy will not be able to run without money. But unfortunately until now I don't understand what the functions of money are, can you explain what the functions or roles of money are in our lives?

 

[eLdavis]

Money is used for a lot of things, therefore it has a lot of functions. Money is part of the things we need to survive.

 

[Starmix]

The function of money is to allow the money holder to buy what he wants, to send a child to school, to operate a business to spend for weddings he he, to buy food, to buy love and make money owner living comfortably.

 

[Suba]

The function of money is to allow the money holder to buy what he wants, to send a child to school, to operate a business to spend for weddings he he, to buy food, to buy love and make money owner living comfortably.

I agree with you, which means money can be used to buy goods which means money can function as a medium of exchange, and if you already have a lot of money and live comfortably it means money functions as a store of wealth.

 

[Fidelia]

Money is used for exchange for goods and services and can be used as a store of value. Money can also be used a form of security.

 

[Suba]

that's right, one of the benefits of money is as a store of value where the money we have now can be used in the future such as saving money for retirement funds, creating emergency funds, etc.

 

[Kross]

Money is simply used to exchange for value that is found in goods and services. That was the primary reason money was introduced.