Money, Income & Wealth

Money is a means of exchange and a measure of value

Episode Transcript

(00:03):
Hello and welcome to the Money Cafewith Solomon King. This program provides all
the information needed gives you in depthanalysis and education of your financial business,
investments, and issues that generally affectyour physical well being. So get ready
for today's episode. The program isThe Money Cafe. My name is Solomon

(00:26):
King. I'm your trust that financialadvisor. On the program. Every day
we provide for your information about howto do well with money. Today,
I want to talk to you aboutincome, money and wealth. Yeah,
most times we seem to mix thiselement of money, income and wealth.
Money is a means of exchange.It's a measure of value. Money is

(00:51):
how we know how valuable a personis in the marketplace. And basically that's
just what it is. Is whenvalue exchanges from one person into the other.
The way we measure that exchange isin monitoring times. Now, the
amount of money you get out ofthe market is what we call your income
income. So what are you doingto increase your income? What kind of

(01:14):
income are you trying to achieve?What kind of income do you attract?
What value do you bring to themarket. So money is a general term
for describing value, but income iswhat your share of the market is what
do you take out of the market. What you take out of the market
is dependent on what you bring tothe market, what value that you bring

(01:34):
to the market. Because money isa recompense, is a reward for value
that you bring to the market.So the more income you get is dependent
on the value that you bring tothe table. A doctor is paid based
on the value that he brings.A lot that is paid based on the
value that he brings, an advisorand accountant, everybody is paid based on
what value that they bring to themarket. So the more valuable you are,

(01:56):
the more income you're likely to get. An income comes from major success,
from active work activities, or frommoney working for you. It's called
investments. Do you want to learnabout finances? Are you interested in investment
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(02:17):
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(02:38):
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(03:00):
books making you wealthy every day.So regardless of the kind of income that
you have, the kind of incomethat you are able to create, whether
active work related, work based incomeor passive income, which is income coming
from your money also working for you. You need income. You are said

(03:20):
to be rich when you have alot more income than expenses, bills,
things that you need to spend moneyon. You're said to be rich when
you have a lot of income asagainst your expenses. Now, wealth depends
on how much time you have tobe reached for. How much time you
have to be rich for determines howwealthy that you can be. So well,

(03:40):
there is a function of income,being rich over a long period of
time with peace of mind and withhealth, and so this should be your
goal as you go to the marketplace, as you work every day. You
should understand that, Hey, moneyis a general way by which we're measured.
Value is what I bring to themarket and they pay me back.
The money that has spaid to meis income. I need a lot of

(04:02):
income from different sources to be declaredas rich. Because I'm rich only when
my income exceeds significantly my expenses.I need to be reached for a long
time. So money is not thesame thing as income, not the same
thing as world, and not thesame thing as being rich. Thank you
for listening to this episode of theMoney Cafe. You can reach mister King

(04:25):
on zero eight Zery six four fivetwo nine zero ninety five. Once again,
that number is zero eight Jerry sixfour five two nine zero nine five.
You can also check him out andall his social media handles and Facebook
Solomon King, on Instagram, Moneydot King, and on YouTube Soloman Money
King. Until next time, makesure you stay with m