What does nonmonetary mean?
Nonmonetary means that something has value or significance without being expressed in money. It is commonly used for benefits, contributions, costs, and advantages that are financial in substance but not actually payments: donated expertise, free training, volunteer time, or improved public services are all nonmonetary. The term can also identify resources whose value cannot easily be reduced to a cash price, such as trust, reputation, or access to a community resource. Because it is more precise and formal than simply saying free, nonmonetary often appears in policy papers, business discussions, legal contexts, and descriptions of nonprofit work. Its negation prefix, non-, attaches to monetary, which means relating to money or currency. For many readers, nonfinancial is a more familiar alternative, while nonmonetary is especially useful when the distinction between money and another form of value needs to be emphasized.
adjectiveNot involving or relating to money; non-financial.
- Not involving or relating to money; non-financial.
"The proposal offers a nonmonetary benefit to the community."
"The organization accepted a nonmonetary contribution of professional services."
"For many children, a safe place to study is a vital nonmonetary advantage."
The word nonmonetary points out that value can exist well beyond currency: time, skills, goodwill, and access can all be worth something without appearing on a balance sheet.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Where does nonmonetary come from?
Nonmonetary was formed in English by combining the prefix non-, meaning not, with monetary, meaning relating to money. Monetary comes through Middle English from Latin monetarius, derived from moneta, “money” or “a mint.” The same Latin root also underlies related words such as numismatic and the name of the unit moneta, while coin is a cognate through Old French coin, from the same Latin word.
How nonmonetary is actually used
Nonmonetary is formal and somewhat technical. It is often used in economics, public policy, business, and nonprofit contexts to distinguish intangible or non-cash benefits from payments.
Easily confused with nonmonetary
Both words mean not relating to money, but nonfinancial is generally the more common form in general English, while nonmonetary can sound more formal or technical.