Opinion

Learn These 3 Things About Money – Fast Knowledge

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Money has always been a problem in a country and humans life that is why we always have the poor.

Many may have forgotten what money is and keep spending and making use of it and at the same time money has caused a lot of things in a country whether good or bad it is now the reason why many people live, sleep, wake, and do other things.

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In its definition, Money was defined as any valuable thing that is generally acceptable for payment or compensation for goods and service or repayment of debt in one country to another. the main purpose and function of money was a medium of exchange and account placeholder and occasionally used as a standard of deferred payment.

3 Types of Money

Commodity money:

According to Wikipedia, Commodity money is money whose value comes from a commodity of which it is made. Commodity money consists of objects having value or use in themselves (intrinsic value) as well as their value in buying goods.

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Fiat money:

it is Inconvertible paper money made legal tender by a government decree.

Fiduciary money:

According to Wikipedia, Fiduciary money, or currency, refers to banknotes and coins in circulation in the economy. This is the liquidity available to economic actors to carry out transactions. It is a means of payment. … Money put an end to the barter system and allowed trade to flourish

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Now that you know the definition of money let move to the three things you must learn about money

  1. “You must gain control over your money or the lack of it will forever control you”  This is a tabled fact you need to know and hold as a man who wants freedom from everything

  2. “Learn to manage your money when you earn it” whether a big or small amount of money you get in your stages of life you must learn to manage it like knowing what you need from what you want, knowing the difference between want and need, spending your money wisely to get another then in no time you are getting there.

  1. Money can’t buy your happiness: This you need to know and not lie to yourself. you as a person will ask yourself what do I mean by this.. you need to know you have to earn your happiness from the people around you that is now out of money. GOOD LUCK.

HOPE YOU SHARE AND LIKE MY ARTICLE

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