Tue. Jul 26th, 2022

We all want money but we don’t understand what money means.

If you have ever tried to find out what money is, then this article is for you.

I will explain to you what it means in 8 simple steps.

Ok, let’s start.

1. Money is a medium of exchange

In the olden days, it was difficult for people to get what they needed.

See how it was

At that time, a baker who bakes bread needed shoes.

He’d have to enter the community and look for someone who has shoes and also wants his bread. To give his bread to and take shoes.

Do you get it?

If he can’t find this person them no shoes for him.

You see how difficult it was.

Here is another example:

If you had white soup in the house but wanted rice and stew. Ok.

You have to go and look for someone who has rice and stew to give you and also wants your white soup in exchange.

So what if your white soup spoils while you’re still looking for someone with rice and stew to exchange.

Now, money ends that difficult situation.

With it, you can buy whatever you want, whenever and wherever.

Because everyone accepts it as an exchange for what they have to give you.

A trader in the market will collect your money and give you his shoes if that’s what you want.

The doctor will take it and treat your sickness.

In summary, money makes it easy for you and me to exchange value.

2. Money is a gift of Appreciation

Money is an appreciation gift.

You give your barber money to appreciate him for giving you a nice haircut.

You also appreciate the Keke man by giving him money for shortening your trekking distance from one place to another.

So if you do a nice job for someone, that person will give you money in appreciation.

As a tailor, you get appreciated for sewing for your client. And that appreciation is money.

If you give to others, they will give to you.

You give the Government or your company your valuable time, and they give you money.

In summary, when you make yourself useful to someone else, he or she appreciates you with a gift called money.

3. It is a currency

Money is a currency because it flows from one end to another and we all accept it.

You had #100 in your pocket in the morning, in the afternoon, when you were hungry, you removed it and gave it to the woman selling coke and buns.

The woman then takes the #100 to a man selling flour in the market.

You see, this currency flows from one person to another.

So money is something that can be used as a present again. 

4. Money Is Everywhere.

Most people think that money is scarce. 

Sir, money is everywhere, because everyone has money in the bank or pocket.

You don’t have to dig six feet into the ground to see it or get it.

The problem is that most people don’t have value to give in exchange for money.

Nobody will give you money for free unless your father or mother.

But in the marketplace. You have to sell something to get money.

Government workers sell their time, traders sell products, and the laundry guy who washed your clothes sells service.

In summary, money is everywhere, but you have to give something in the form of time, product, or service, to get it.

5. Money on its own is nothing but paper or numbers on the screen

You value your notebook because of the note you wrote on it that can help you to pass your exam.

We value money even though it’s a piece of paper because everyone accepts it as a means of exchange.

If you tear a white piece of paper and take it to the supermarket to buy. Nobody will accept it. Because we don’t agree to treat it like money.

But why is it valuable even as a paper

 

Number 6 answers it.

6. Money is used to store our value, energy, and labour

Value means something you cherish especially because it is rare.

Your time is valuable because once lost, it can’t be recovered.

Same with your energy, because you can’t get it back once you use it.

So you make sure that the money you get is equal to what you lose.

7. It is a trade

It makes a way for a person to trade what he has for what he wants.

I have graphic design skills, you don’t have. But you have money.

Now, you want me to design a wedding card for you.

Since you can’t design it by yourself, you give me money and I do the design for you.

Therefore, Money creates a way for you to trade what you have for what you want.

8. It is used as a measurement for Contributions to society

Dangote became aware of the fact that he should contribute to his society.

He created ways to do so by selling different products. Because of this, he has lots of cash.

The larger the number of people benefiting from his contribution, the bigger his money.

Before we move on, let me quickly ask you this very important question.

Why Do You Want To Make Money?

A Lot of people ask how to make money without asking Why they want to make it.

When you have a why you will find the how.

See ehn, you have to sit down and think about 3 strong reasons why you want to make money.

My reason is;

First, to be financially free 

Second, to have money to afford anything I want and travel to anywhere I want and never beg for it.

And thirdly, so that my children don’t smell poverty.

When you have a very strong why the how will be easy.

Conclusion

Money has made it easy for us to get whatever we want except for life.

It has changed the way we do business with people.

But most people want to get it for free. That’s why they do many things that humanity and God frown at.

Don’t follow them and do them wrong. Do the right thing and enjoy both money and peace of mind.

You can share this with your friends.

By Hannah

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