Financial Decisions are made because of Greed

Most financial decisions are made because of greed. Describe a specific situation in which a financial decision might not be made because of greed. Discuss what you think determines when greed is the basis for making a financial decision. In a world of scarce resources, people need to look out for themselves in order to survive. They want to find remunerative work in order to support their families. They guard their resources in a way that makes best sense for their economic situation. The process of making financial decisions in the interest of survival cannot be described as "greedy" per se--or the excessive desire to possess wealth with the intention to keep it oneself. It is more of a selfish need--or putting one's own self interest above others. Since everyone is competing to survive, people naturally make their financial decisions due to selfish motives. Economic theory posits that humans have unlimited wants. Most people, indeed, are not satisfied with their economic situation and feel that they could have more resources in order to accumulate belongings. Even the richest people in the world desire to become even richer. Once an investor makes big earnings, he usually is not satisfied with retiring to a deserted island and living stress free; no, he uses his big earnings to make even bigger earnings in the future. Indeed, only those who have been "enlightened" about the impermanence of money and things can be satisfied with their present financial situation. For the rest of us, there always exists the nagging feeling of wanting more. Thus, financial decisions are often made according to one's desires to become wealthier. Of course, there are situations when financial decisions are not motivated by selfish desires. For instance, there are wealthy people who donate their money anonymously--without the need for public recognition. Then again, they might do this to make themselves feel better or feel less guilty about accumulating so much money; this could be construed as selfish to an extent. However, the intent to help others usually overrides the "selfish" desires. Furthermore, many people also make financial decisions that benefit their kin rather than themselves. However, these types of decisions are selfish in a sense that humans are wired to take of their families and take steps to ensure the survival of their blood. Indeed, decisions regarding money are made with the desire to ensure one's own survival. After having met their basic needs, people usually want to improve their economic lot and accumulate as many items as possible. These types of decisions are considered "selfish" in that people look out for themselves before others. However, by acting in self interest, humans as a race are more likely to survive. This is so long that these selfish decisions do not cause harm to others nor decrease the chances of other peoples' survival.