Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Money, wealth and income are different words that have the same meaning. Are you agreeing?

user-image
Question added by Abd El-Rahman Ibrahim
Date Posted: 2016/06/23
alex burciu
by alex burciu , Showroom Supervisor , La Maison Verte Furniture LLC

I agree with the statement above only partly.

What money are? Basically money are the word of showing a value of something and also an operating tool in the world.

What is wealth? Financial wealth is when person X has 10,000 / month and person Y has 6,000 / month. Now, if person X is spending 7000 / month and person Y only 1500 / month it means Y has a better wealth then X, and it also depends on what they spend these amounts. It is a subject which has different point of views.

Income - the amount which you have the absolute influence. How much can you sell - items, yourself to companies, your services etc. And income is valued by certain amount of money which i was saying earlier that  are just an operating tool in the world.

Basically MONEY are the fundamental word for INCOME and WEALTH. We can not have conversation about INCOME and WEALTH if not using word MONEY. They have different meanings but in the same time are linked together.

Deleted user
by Deleted user

Yes all three money wealth and income are different word and also all are having slightly different meaning but are linked with each other Money: “A medium of exchange” the money that is saved after all the expenses have been deducted is considered as an income. Wealth is a stock concept – it is a large amount of money or valuable possessions and can be held in different ways: Savings held in bank deposit accounts .Ownership of shares & equity stakes in private businesses property& bonds income as the amount of money someone receives on a regular basis, in terms of wages,salaries while wealth is the length of time that person (or family) could maintain their current lifestyle without receiving compensation for performing additional work.

Deleted user
by Deleted user

Disagree

All of which have the same meaning

It gives the same results