What is Money?
Ever wondered what makes money, money? In this episode, Josh Eisenberg explores the true nature of money through a powerful historical story and a practical self-discovery exercise.
He begins with the haunting tale of Rabbi Eliyahu Dessler, whose family lost everything during the Russian Revolution when the once-stable ruble collapsed overnight. The experience reshaped Dessler’s entire understanding of wealth, teaching that true security does not come from accumulation but from alignment with purpose and giving more than you receive.
Josh then breaks down the three essential qualities that define money: a medium of exchange, a unit of account, and a store of value. He explains why losing any one of them destroys its meaning. Imagine you’ve just won $10 million. How would you spend it? Give it? Save it? And more importantly, why? Through engaging examples and a reflective exercise, listeners are invited to redefine their own relationship with money by identifying what truly matters to them.
You will walk away not just understanding what makes money money, but discovering what makes your life meaningful beyond dollars, digits, or possessions.
Key Takeaways
Money is only useful when it retains its purpose of exchange, measure, and value.
Wealth without fulfillment is no wealth at all.
True security does not come from accumulation but alignment with purpose.
Your "why" determines how you use your "what."
Fulfillment grows when you connect financial goals to spiritual values.
In This Episode
[00:01] Introduction
[01:13] Rabbi Eliyahu Dessler and the collapse of the ruble
[02:21] Lessons from Rav Dessler’s life
[03:27] Defining money: what makes something money
[04:51] Medium of exchange explained
[05:59] Unit of account explained
[07:18] Store of value explained
[08:24] Money’s limits and true purpose
[09:41] Financial goals exercise: setting up
[11:05] Allocating wealth: charity and taxes
[12:27] Personal spending, saving, and investing
[13:38] Identifying core motivations
[15:04] Action steps toward fulfillment
[15:04] Conclusion and call to action
Notable Quotes
[02:21] "The collapse of the ruble left a deep impression on him, one that would shape his perspective on wealth and security for the rest of his life." — Josh Eisenberg
[02:55] "Rav Dessler's lesson is designed to teach us that security and good fortune come from God, who also gives more than he receives, rather than from the accumulation of assets." — Josh Eisenberg
[08:10] "Money on its own has no intrinsic value. Just like when you start trading cows for chickens. You're not necessarily better off with a chicken. It depends what you need the chickens for." — Josh Eisenberg
[14:24] "The process of developing wealth has to have along with it a strong sense of what will be fulfilling." — Josh Eisenberg
[14:33] "Somebody who knows what he wants and knows what will make him feel fulfilled can probably live a very meaningful life even without becoming extremely rich." — Josh Eisenberg
Resources and Links From Abundance to Wealth
Podcast Link