Money: The Value Of Money
Welcome!
Money... Money... Money... Sometimes I don't know what to actually describe money as. The values of variable changes in money makes it very hard to maintain a simple currency note or coin for a very long time not just a period of 10 years but centuries. Sadly, Naira has lost its value. Formally, $1 equals ₦25 but now it's $1 to over ₦500.
What Is Money
Money is anything which is used as a means of exchange for the purchase of goods and services. Money is what we use to buy something.
The first money to be used is the dollar bill in US. Today every region of the world has a currency which is generally accepted as a means of exchange.
The value Of Money
The Value Of Money is the purchasing power of money. This means the amount of commodity money can purchase.
For instance, Mr. A go to a store with ₦100 to buy recharge card and Mr. B came the same time and bought goods worth over ₦7,000. We will say that the value of money of Mr. B has more value than that of Mr. A.
When I was still a little boy in primary 2, I can vividly remember that I bought moi-moi for ₦10 and bought many Ogidi for my friends with the total of ₦20 when school was over. But today, ₦5 has no value come to talk of the coins.
My grand parents normally told us stories of how they used ₦30 to travel around Nigeria, from Imo state to Abia state. But in this era, if you travel for a reasonable distance it's ₦200 showing that, the value of money (naira) has depreciated below average. Many person's have gone into unclean or illegal means of getting money to take care of both themselves and people they love since working (job) is vain.
We are not in the dark, are we? #steemit has brought us a pleasant opportunity to grab with open arms what we need to cater for ourselves and people around us. Let's be greatful. I do believe that there is no way the Economic condition will be so hard on us when we have many baskets that we do feed from.
Conclusion
Although the world is in its critical condition we look forward to a time of better things with joyous blessings in full. Then, our money will never sprout wings and fly into the mid sky.
From this post, we have seen how generous you are. The way our currency depreciated is something else. Maybe, tomorrow, it will bounce back. But in all, we are happy seeing you as an active member of this community. Keep steeming
I'm grateful to u
Fiat currency is going down as cost of is going high, you pointed out something that we have which means we are not in dark, steem is for everyone who believe in the future.
Please remove the club75 tag as your current club statu is club5050
It is sinusoidally dropping
Sorry about that. I'll change it
Naira has lost its value my brother. Do you know that I bought groundnuts NGN 1, and even fifty cobo when I was in primary school. But today, no more coins in this era. Why won't Naira lose its value. Steemit has been the greatest opportunity ever. I have grabbed it with two hands and no more going back. Thanks for sharing the importance of money. Because, no money, no means of exchange.
I still can't believe. You mean Kobo to buy granut
I swear. Thank you most importantly for your kind comments
Naira has lost its value, indeed and in truth, it's that bad however, I love these words of yours Below
It has brought to us a very pleasant opportunity indeed and were already swimming in it.
Frankly speaking, it has. Thank you
Money is strength, but now a days money don't have value again. In those days if you 50 naira your a millionaire. Thank you dear for sharing
Hahahaha 😂. What about now. I think you will be a nairanier
We have supported this post. Keep on making great content in our community. Always check @steemalive for community updates. Thank you being an active member.
I appreciate you the more for your kindly n timely support
@chimeroselam, this is pure truth:
Come what may, our Niger low economic condition cannot depress us. With steemit, we are good to go.
Most importantly:
Does the coins in this your post belong to you? If yes, let me know. Base on biz
Yes it is mine. A total of ₦5
Ok
Ok. Please check their production year. Is there any that corresponds with 1939, 1944 to 1949 and 1975? If yes, let me know
Oh, no! I can't even find them where I kept it
Chei, but, check if you can find any from your neighbours. I gonna give u some %
None have
Hi @chimeroselam,
Thank you for posting in Steemalive community.Money remains a means of buying and selling but it is not always easy to get money,that accounts to why it has much value.
Sadly,our local currency-naira is depreciating at the speed of light.A big reason to worry.
Although it was a government owned school,my school fees when I was in primary two was fifty naira (#50) back then.
Now #50 can't pay any fees or dues in school.
Chaii. You can imagine that. It is truly saddening. That's why we now make money from a currency higher n better than naira
It is a shame to see how Naira has fallen over the years. Hopefully one day a little light will shine and change it all.
Hope! Let's keep hopping dear
I share same mind with you @chimeroselem. What the future holds for us is great and even greater than what we are experiencing today. Since there is God, there is hope.
IThere is God in everything we are doing. I thrust Him