The power of Money
Money is a tool, a system, and a symbol — and understanding it gives you power over how you live and grow financially. Here’s a full breakdown of what money is all about: 🔹 1. What Is Money? Money is anything that is widely accepted as payment for goods and services or repayment of debt. It serves three main purposes: Medium of exchange – You use it to buy and sell. Store of value – It keeps value over time (unless affected by inflation). Unit of account – It measures and compares value (e.g., ₦1000 vs ₦500). 🔹 2. Types of Money Cash – Notes and coins. Bank money – Digital money in bank accounts. Crypto – Bitcoin, Ethereum, and others (not government-backed). Mobile money – e.g., M-Pesa, OPay. Commodity money (historical) – Gold, silver, salt. 🔹 3. How Money Works Money flows through: Earning – Salary, business, side hustles, investments. Spending – On needs, wants, and luxuries. Saving – Delayed spending for future use. Investing – Using money to make more money. Borrowing an...