Last week, we introduced this exciting series; “Laws of Money” and we made a promise to educate you on the laws of money for the next few weeks. Kindly sit back to learn as we share the first of the laws; “The Law of Value”
Understand this: the more problems you can solve, the more value – read money – you attract. This is the first law of money.
Money is basically value. It is neither the currency or paper notes we carry in our wallets nor the electronic money reflecting in our accounts online. Before the introduction of money, the world operated a barter system; I give you something of value that I have (but you need or want) in exchange for something else of value that I need. The question then became, what amount of corn should be exchanged for goats?
To improve this highly subjective approach, money was introduced as an objective, standardized and measurable system of trade. Now, when someone offers you a product or service (food, clothes, entertainment, transportation, healthcare, etc), you part with an agreed sum of money because you have gotten value. Therefore, economists say money is a store of value.
Anytime you part with money when you haven’t gotten value, you have either been robbed or duped! On the flip side, if you have no money, it either means you are not offering anything valuable (worth paying for), or you’re not offering your services in the right market.
In today’s market, value is measured by how much pain you can relieve, need you can solve or desire you can supply. So, what do you need to do to become rich? Solve problems. Meet needs. Exchange value for money. The more you’re able to do this, the more money – read value – you attract! #financialintelligence101
