

Serving as a unit of account, money acts as a common standard for measuring the value of goods and services. Example: What if I wanted to buy your car for 10 cows and a couple of chickens? I’m guessing they wouldn’t be taken as payment. However, the problem comes in when the individual does not have a good or service that the other values for the exchange. For example, if I wanted to exchange a luxury car for a used speed boat with someone, we would both walk away happy. It’s a good system if both parties hold what the other wants, which is called a double coincidence of wants. In this system, people exchange goods and services with one another. Without money, people would have to use the barter system. As a widely accepted form of payment, it serves as a medium of exchange that allows those who use it to get what they need easily. The main and most important function of money is that it can be used in the exchange of goods and services. Budgeting Tips for Military Families: 38 Pointers By MilSos.Best Side Hustles For Active Duty Military Members.Create A Military Family Budget: Free Worksheet.Healthy Budget Grocery List For Two: $200/Month.Your Left Hand Itching Can Mean Money Coming To You!.50 Powerful Financial Affirmations for Manifesting Money!.Top 5 Legitimate Work From Home Jobs Hiring Now.17 Tips To Live A Fabulous Life On A Budget And Save Money.
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