Something (such as an act, a forbearance, or a return promise) bargained for and received by a promisor from a promisee; that which motivates a person to do something, esp. to engage in a legal act. Consideration, or a substitute such as promissory estoppel, is necessary for an agreement to be enforceable.
Consideration is the exchange. It is a required element of any contract. There must be something exchanged. Consideration may be tangible (money) or intangible (love and affection). It doesn’t matter what it is, as long as the parties agree it was an equal exchange.
Money is the most common form of consideration in exchanges with a customer. You buy jeans for a certain amount of money. You pay money for a hair cut. That is the simplest form of consideration. There is also, of course, exchange of services to get the things you need. The more complicated question of consideration is something like this:
You purchase a car for your 16 year old. When your child is old enough to own the car themselves, you “sell” the car to them for $1. What is the consideration? The consideration is how much you love your child. It would be a very hard argument to prove that you valued the car at $1. That does not mean that it was not a proper transaction. It doesn’t mean that the title did not properly transfer. It just means that the exchange was for something more than you can list on the car title.