https://wiki.postgresql.org/wiki/Don%27t_Do_This#Don.27t_use_money
Don't use money
The <tt style="font-family: monospace, monospace;">money</tt> data type isn't actually very good for storing monetary values. Numeric, or (rarely) integer may be better.
Why not?
It's a fixed-point type, implemented as a machine int, so arithmetic with it is fast. But it doesn't handle fractions of a cent (or equivalents in other currencies), it's rounding behaviour is probably not what you want.
It doesn't store a currency with the value, rather assuming that all money columns contain the currency specified by the database's lc_monetary locale setting. If you change the lc_monetary setting for any reason, all money columns will contain the wrong value. That means that if you insert '$10.00' while lc_monetary is set to 'en_US.UTF-8' the value you retrieve may be '10,00 Lei' or '¥1,000' if lc_monetary is changed.
Storing a value as a numeric, possibly with the currency being used in an adjacent column, might be better.
When should you?
If you're only working in a single currency, aren't dealing with fractional cents and are only doing addition and subtraction then money might be the right thing.