The Wealthy Barber

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             The value of money is important to one because when you are looking for a place to live or cars, it is better to look around at different places to compare the cost and rates at which one could purchase a house or car. In the economy today, the quantity demanded exceeds the quantity supplied for many resources. Factors of production such as human capital, physical capital, natural resources, and technology are important value in one's life. If you are willing to work harder in your career, you will have an increase in your productivity which may cause for a raise. A raise could be sufficient, because it can allow you to either invest more or have more spending money. People, who don't work hard, will have a less chance to progress and make more money and is at a higher risk of loosing their job then the people who work harder. Becoming unemployed can be depressing, because a person doesn't earn more than ¾ of his normal working salary due to unemployment insurance. Unemployment decreases one's value of money, because they have less money to pay the bills, and less money to invest. Sometimes people have to take money out that they once invested to be able to keep a standard of living. It is true that your standard of living has to due with your productivity and your wealth within a given economy.
             Until reading the book, "The Wealthy Barber", I never really had an idea of what to do with my money. There would be times in my life that I had no concept of money value, and I would somehow manage to spend a paycheck in less than an hour on things I .
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             didn't need to survive. After reading this book, figured I'd better start saving or making money as it is stated. However, if I invest in something such as a mutual fund for long term growth I will get a better interest rate and end up making more money without doing anything. The nice thing about mutual fund is that they use the compound interest which allows your money to grow at a very rapid rate, as you will slowly start making money on the previous interest deposits as well as your own deposits which you make.