Sounds like a simple question, until you start to really ponder: what is money?

By definition, money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment. 

I’m sorry, but that is the best definition I could find for money. I remember well when a new form of money came out – it was called a credit card, and I remember my mom being extremely embarrassed every time she used it. Even at a young age, I couldn’t comprehend the cause of her embarrassment. I mean, it was called plastic money, so I didn’t see the big deal.  

So, for most of my life, money was cash, checks and credit cards. The thought of walking around with no cash in my pocket was ridiculous. But along with the Internet and smart phones, money seems to have metamorphosed into electronic digits. Most of the young people I work with do not even have $10 in cash for our monthly lottery pool. They have to write notes and go to extremes to come up with a 10-dollar bill.               

If I am honest, I must admit that although I always have a decent sum of cash on me, I seldom use it. I mean, using my credit cards can bring some pretty handsome rewards, but the danger is in not paying off the total sum every month. If you can’t pay it off every single month, cut it up and throw it in the trash. I have been down that road and, believe me, it can be a long bumpy ride.  

I have recently dipped my toe into the cryptocurrency pool. You take your real money digits and buy some cryptocurrency digits, and it is game on. I go to my Voyager app on my phone and watch the chaos unfold, non-stop, 24-7 – people continually buying and selling, hoping they might be sitting on the next bitcoin. I would not ever put money into this market that you absolutely cannot afford to lose. It is extremely volatile and, to be honest, I don’t think anyone really understands it yet. Money is dependent upon confidence and faith. I mean, suppose you pulled out some cash to buy something and the person said, "I don't believe that fabric is worth anything." That would sure change your idea of money in a hurry, don't you think? So, next time you spend some cash, stop and take a good look at it, and ask yourself: what is money?