Financial Factors From Luxury To Necessities:

If I say money is all we need to fulfill needs would be not wrong because if we see our surroundings everything we can get if we have money. From basic necessities to luxuries money can provide the facilities to get everything. People are trying their best efforts to increase their weekly or monthly incomes and some people do over work to increase their monthly finance ratio.

The inflation rate has increased from past two three years and purchasing power of single person is getting lower everyday. So to earn more money is all we need to manage our home finance and requirements. But necessities are not only requirements for humans. When a person fulfills his everyday basic needs he moves towards extra things and luxuries and when he is able to fulfill his luxuries he option for more opportunities to get everything. And this is what about Maslow theory is based on. With the increase in purchasing power, the human demands related to finance increases. Bu it is natural and everyone living on this planet lies under the concepts written in Maslow’s theory.

It is totally wrong to say that human gets satisfaction if they are able to achieve one target but the greed and lust for earning more money to overcome finance requirements are always incrementing. However, some persons are greedier and some are less. The ratios are different but no one wants to vain the possibilities of earning more.

We can see with our own eyes the progress of world and if we particularly talk about mobile phones, you are able to determine the difference in use of mobile phone in past ten years. Now they are very common and converted to necessity from luxury. So it is due to change in time that the worth of money is getting down and people are willing to buy more. It is no doubt change in finance issues and research and surveys are proving that more luxuries are converting into necessities.

Computers are another example especially laptops and if we go back thirty years the cars were used as a luxury but now it is necessity for all people. So these are basic changes by time affecting the issues related to finance because everyone wants to enjoy the comfort of life and for this reason they try to earn more money to fulfill their needs and when we talk about money then financial institutions are always at top.

These financial institutions are providing help to people to meet their monetary requirements at best level and the best financial institutions are banks that have solution of almost all types of finance issues. People are connecting their money problems with them to get the approximate completion of money requirements.

So it is all the matter of desires that are increasing day by day with the increase in facilities of life that money is loosing its power but demand of money is increasing very fast. May be we are able to find out base of this problem but still no economist has provided a proper solution to deal with such a confusing situation.

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