Money has been traditionally defined as a medium of exchange for goods, and services. Money is a tool that was originally invented as an alternative to the barter system and is a more efficient system than carrying goods around to exchange for what you want. Money is neither good nor bad. Like any tool, it is how we perceive money that determines how it affects our lives.

Wealth is characterised by an abundance of valuable material possessions or resources and riches. Wealth usually refers to the possession of money, property and assets. It is the abundance of possessions of value and the state of having accumulated these objects. Wealth is the state of being rich and affluent, having a plentiful supply of material goods and money.

Both money and wealth mean a variety of concepts to different people. For a start, you need to determine your individual personal definition of money and wealth to understand their power and demystify them, if necessary.

Is money a path to a prosperous life?

Could money improve the social and financial well-being of your family?

A wealthy or rich person is someone who has accumulated substantial wealth relative to others in a society or reference group. The state of being wealthy is a relative term and the concepts of wealth vary among societies. Having a net worth of one million may place you among one region's wealthiest citizens, yet that same net worth would be considered quite modest somewhere else.

It is important to note that money is not wealth and vice versa; but money is what usually buys wealth. Wealth is power, with which many things are possible.

As part of the preparation for my eprogram, I asked a number of people to state what their biggest question or challenge was with regards to money and wealth. One of the intriguing responses I received was from an old friend who simply posed the question: Can one be wealthy without money? She went on to answer the question herself and added, Yes.

This further inspired me to seek more views on the question of being wealthy without money. Granted, this is a subject that will remain subjective. So I will let you answer that question for yourself.

The definition of the word wealth itself implies the abundance of valuable material possessions or resources, the acquisition of which, begin with money. True wealth comes from the self-assurance and the sense of well-being that comes from knowing that you have as much money as you need.

Action:

Determine your individual personal definition of money and wealth. What does money and wealth mean to you? What would you do with it if you had all the money in the world you ever wanted? How would your life be like?

Prosperity is the point where you exceed all your reasonable wealth accumulation goals for successive generations. It is the epitome of financial security, independence and freedom. As with money and wealth, prosperity is relative and different for every person. For most people, it means having enough money to feel secure about the future, to do whatever you want, and to have the things you want without feeling limited in any way.

Prosperity is very much an internal experience, and is not tied to a finite amount of money. Although prosperity is related to money, it is not caused by money. It is possible to experience prosperity at any level of income. Money is usually the tool or means to realize our goals, and prosperity is the inner experience we have when we exceed our worthwhile goals.

Since prosperity is the inner experience of exceeding our worthy goals, in order to experience it we must do three things:

1. Know what our true goals are, our real needs and desires.

2. Develop the ability to meet our goals, and

3. Recognize, appreciate, and enjoy what we have

You will become prosperous when you can consciously acknowledge your true needs and desires, and learn how to fulfil them. The best way to determine what your true needs are is to clarify your personal core values.