You begin the game with 5 read hearts. Whenever you touch an enemy, get shot, or fall into the sea of lava or mountain of needles you will lose a portion of your energy. When all you life hearts turn black, the game is over. Gold is the type of money used in Monster Land. With enough money you can buy needed weapons, magic or even extra life heart energy.
Some money is hidden.
Look for it in unusual places. Like in real life, everybody's 'sands of time' is limited. When all of the sand passes from the top to the bottom of the hourglass you will lose a part of a life heart. The number of different types of weapons and magics that you have are displayed here. The Status Screen shows the actual items which you have.