UNDERSTANDING MONEY.

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Money can be defined as

a legally or socially binding conceptual contract of entitlement to
wealth, void of intrinsic value, payable for all debts and taxes, and
regulated in supply. ~ English dictionary 3.7

Money can also be defined as

a generally accepted means of exchange and measure of value.
~Engligh dictionary 3.7

The texts from the above English dictionary are extracted from wiktionary.org

Money plays an important role in our everyday lives. Today, there is
barely anything of value you can do or get without having to exchange
money for it. As the roots are important for a plant to live, money is
crucial to having access to the essentials of life. We are all the root of
our financial success or failure as it wholly depends on us whether we
save it or waste it.

1.Importance of investment
We hold money for three main reasons: transactions, a precausion
for unforseen expenses, and for speculator or investment reasons.
Investing a percentage of your income as saving a bit of it. With a good
and steady investment attitude, you would be able to increase your net
worth and have a good amount of money to fall back on when you are
unable to earn or work. With investment, your money is making money
with the little supervision from you.

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2.No such thing as a shortcut
Except in cases of inheritances, money does not just fall in your lap. It is
worked for. You must pay your dues to get paid whether as an employee
or entrepreneur. There is no shortcut to success. You have to put the hours
and the energy (mental and physical) in before the trickle (a small flow of
liquid) can become a flood.

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You have to become skilled or well-read, both of which take time and
effort. No one would pay for substandard skill and especially as an
entrepreneur, if you are not prepared, you will fail. Money does not grow
on trees.

3.No one will give you things for free
Nothing of value is for free. In truth, nothing is ever free as someone
somewhere is paying for it. We all know that to get an item or service,
money must change hands. That car or that house you desire will not
come to you for free. Now, you might point to jackpot winners and the
likes. That is not for free either. For one, they buy tickets, spending
considerable amount of money. In addition to that, the money won is
an accumulation of the monies spend by other people who are also
playing the lottery game. So,you see, it is really not free.

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4.Money brings power
Money brings respect, prestige and power. This power is not necessarily
powered to control people, but a power to handle most of what life throws
at you. You have more control over yourself and what happens to you and
around you. You can afford a good education, good healthcare and good
accommodation that will make life better and more comfortable.

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5.You must save
Money earned must not all be spent. You must save a part of it for the
rainy days and the unforseen circumstances. Save a bit of what you earn
daily, weekly or monthly. Just make sure it is a convenient amount and do
not falter. Seeing as most of our monies are in the banks, there are many
applications that help you to save your money. You can also give your bank
a standing order to make specific withdrawals at specific times as saving
for you. Always save for the rainy day. Even if that day never comes, you
are assured of your readiness.

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6.Value money
Let every note count. Know where you money is going. Have a budget
and try to stick to it as much as possible. Having a budget does not mean
you should not do fun things or not buy things you desire, but they must
be done or acquired within that budget. This way, you are able to keep an
eye on your money. You must respect and value that you have an income.
It is not so for others.

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Beloved steemians, let us all try as much as possible and manage our
Money well because, our daily activities mostly depends on it for survival.

How do you understand money?
How are you managing your money?

Thanks for your time.

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