Written by: Shuvanshis Gautam - 25059, Grade XI
Posted on: 13 February, 2024
Money is a must to live in this modern age. As a curious teen, I wanted to learn about money, how it works. As I believe that the things you cannot understand, cannot be attained by you. I had a lot of spare time as I was a student who stayed at a hostel as my thirst of knowing the basic principles and terminologies used to define money, I came across a book named ‘Why The Rich Are Getting Richer’ in my leisure time. I devoured the ideas given in the book as it had deeply interested me in knowing more about finance and how money is circulated. After reading various books my personal perspective on money has changed a lot.
There is a great saying that money is something but not everything. According to my understanding, no matter how much money you give to the poor, it runs in a loop into a never ending cycle. Money flows backwards to the person who invests it. This is a never ending loop where the reach who own different factories, businesses, clothes companies, and other vital supplies. As social creatures, there is always a thirst for power and superiority between their own species for their basic human nature. This loop cannot be directly defeated. This is how the world runs. The people whom the government controls is also a form of slavery as the money that the people in most countries obtain is taxed up to 40% at the highest. If you see that, you are just going to see that you are contributing to the development of the nation, but what most people don't see is that 40% of the money is 40% of your labor that you did. People feel that approximately four months is directly paid to the government where you get nothing in return but have to work for the government for 4 months. In a country like this, there are not many facilities after paying taxes; it can also be seen as a way that the government controls and maintains the system. These words could sound harsh, but this is a bitter truth. As an example, the rich get richer and the poor get even poorer. The inflation of money in cities like Kathmandu is up to 8 percent per annum, but the increase in salary per year of a middle class clerk is even less. Which also illustrates that there will be a point where there will be no middle class; they will only be two classes in society. Everything that people take as a resource or services provided by industrialists and rich people, which means even if rich people give all the money to the poor and homeless, it will circulate to them in one way or the other. Even in our own country Nepal, there is so much observable corruption that everyone gets richer by corruption. Is it an incident that the financial minister and other high financial personnels of this country are giving insights to many groups or huge companies. They treat the information for you, like the songs of money which cost the country in the long run. What do you consider an accident of the government’s corruption leaked by the people in the authority? There was an incident that new plans were published to the common people, the highest amount of Electronics vehicles was imported in a single day which broke many records. Just after that day, the budget passed. There was a 10% increase in tax of electronic vehicles which profit millions to the company.
Nepal is a country which is drowning in debt. There are many financial incidents which have led to my lack of trust in the government of Nepal. Even for the development of his country new financial and promotional laws should be established before his country falls into a huge ditch. Hence, the working mechanism of money, how banks work and how the money determines most of the factors in our life is produced in how it is being circulated. It is a vital knowledge that every child should know as growing up to be wise with their hard earned money. I found this question in many books: why is basic knowledge of money not being taught in schools? I would have to guess that the difference between two human beings is the fact that one knows what the other doesn't. Which concludes my opinion on money as an irresistible option chosen by many but truly obtained by few.
