By Jules Nartey-Tokoli
Money has different names in different tribes/countries and is very powerful. Yes, but do you think that you know money? Do you understand money?
Many people have different definitions of money and what money is. As a matter of fact, some even view money us evil! Is that how you view it too? Well, usually people would think so due to the misquoting of a biblical scripture that says that the love of money is the root of all evil.
So, that actually talks about the love of money; the love of money is what is evil but not money itself. Indeed, elsewhere in Ecclesiastes 7:12;10:19 “Wisdom is a shelter as money is a shelter…money is the answer for everything”. (NIV).
So, there’s nothing wrong or evil with money per se. But developing love of it, or in other words, becoming greedy for money is evil. That is an insatiable thirst that motivates one to do anything for it and amass it for themselves hungrily when they already have more than enough.
Hence, today, we’re going to be looking at what money is actually; and what it is not, thus distinguishing between Real Money and Artificial Money. We will also, in the second part, place it in the right perspective.
What is Money?
To help us define what money is, we start by looking at definitions that I have found in the dictionary called Merriam Webster. It says: “Money is something generally accepted as a medium of exchange, a measure of value, or a means of payment.”
Then, there’s currency which is often confused with money. What we all generally call money today, whether it’s the US dollar, the British pound, the Ghana cedi or Nigerian naira and so forth are actually currencies.
A currency is a form of money but not money. While that statement seems paradoxical, it’s accurate in that currency is a physical or tangible form of money (like coins and banknotes), while money is a broader concept encompassing any medium of exchange. So, I found this on the investopedia.com website that I would like to share with you, Money versus Currency:
“The terms money and currency are often thought to mean the same thing. However, while related, they have different meanings. Money is a broader term that refers to an intangible system of value that makes the exchange of goods and services possible now and in the future. Currency is simply one tangible form of money.”
So, if currency is one tangible form of money, you would agree with me then, that there must be different kinds of money apart from currency. To me, we have money which is natural money, and then we have money which is artificial money.
Natural Money vs. Artificial money
What is natural money? By natural money I mean variables like human resources, precious metals, and precious stones. While currency is a form of artificial money. Artificial because it was created by man, whereas natural money was created by God.
In the First World War, for instance, cigarettes became a form of currency. We know cigarette is also artificial, and it became a form of currency among the soldiers. So, there you have it.
Again, usually when we are talking about money it is the artificial form of money that we all mostly focus on, and that artificial money is what a lot of people die for, unfortunately, which you may agree with me that it simply doesn’t make sense. For why should we be dying for artificial money? even for natural money we don’t have to, let alone artificial money!
Your Responsibility
So, each one of us owes it to ourselves to define what real money is once and for all. And when we know what real money is, then we will put value on it–real value on it.
Thus, as I said earlier, natural money comprises human resources, precious metals, and precious stones. We are going to look at each one of this.
Human Resources
What are human resources? By human resources, I am referring to the value or resources that you have in you, or that you are naturally endowed with, which you can use to produce or to bring about something. By human resources, you have certain talents; you have certain knowledge; and you have certain experiences; that when you combine can lead you to production. In effect, human resources can create artificial money, whereas artificial money cannot create human resources.
To illustrate: To start a business many people think about money, which is usually what they refer to as capital. However, there are human resources that each one of us has which we can make use of in order to create that currency, capital that we need to start the business. What are some of these human resources I’m talking about?
As I mentioned earlier, experiences, knowledge and talent are very critical variables in the mix. Your experiences have to do with things like your relationships with people, the way you carry yourself, how honest you are.
If you are honest, for example, and you have a good reputation–i.e. your name; how people view you when your name is mentioned or when they see you–you’ll be able to start your business without even looking for cash, currency. How can that be? Yes, because you have the reputation of honesty, for example, you can get goods supplied to you by a wholesaler or even a manufacturer, using your reputation as the currency, the cash. That is because they believe that you’re honest and will definitely really pay what you owe.
Hence, based on your reputation, they supply you with the goods, you go stock them in your shop, if you have one, or store them away in your home, sell them and then bring the money back minus your profits. In this way you have used your human resources, in this regard your reputation as a form of money to start your business.
Please watch out for the second part.
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The author is a dynamic entrepreneur and the Founder and Group CEO of Groupe Soleil Vision, made up of Soleil Consults (US), LLC, NubianBiz.com and Soleil Publications. He has an extensive background In Strategy, Management, Entrepreneurship, Premium Audit Advisory, And Web Consulting. With professional experiences spanning both Ghana and the United States, Jules has developed a reputation as a thought leader in fields such as corporate governance, leadership, e-commerce, and customer service. His publications explore a variety of topics, including economics, information technology, marketing and branding, making him a prominent voice in discussions on development and business innovation across Africa. Through NubianBiz.com, he actively champions intra-African trade and technology-driven growth to empower SMEs across the continent.
