Wealth is like having a big piggy bank, while income is the money you earn from your job. Some people get a head start with more money in their piggy banks, which makes it easier for them to grow richer over time. Others have to save every penny just to make ends meet. It's not always fair, some people get a bigger piggy bank at birth than others.
Examples
- A child born into a rich family gets a piggy bank filled with $10,000; another child starts with just a few coins.
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See also
- What is Balance of payments?
- How Did Money Start and Why Do We Still Use It?
- What is Network effects?
- What Makes a ‘Currency’ Hold Its Value Over Time?
- What is the Scarcity?
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