Is Money Really the Root of All Evil? Debunking the Myth Keeping You Broke

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Key Takeaways: The phrase “money is the root of all evil” misquotes “the love of money” (1 Timothy 6:10), wrongly demonizing wealth. Negative money beliefs stifle financial growth and opportunity. Wealth is neutral; your character shapes its impact. Financial literacy and mindset shifts are critical for prosperity. Practical steps can break the cycle of limiting beliefs.      You were taught that money corrupts, but have you noticed poverty traps too? Your grandparents toiled tirelessly yet stayed poor, clinging to the belief that wealth is evil. What if this mindset, reinforced by movies, culture, and social media, is silently keeping you broke? Table Of Contents   What Is the Belief? Why It Matters Types of Negative Money Mindsets Why Your Brain Fears Wealth Global Reinforcement of the Myth Money's Dual Value: Terrible vs. Great Uses How to Assess Your Money Mindset How to Apply in Daily Life: Step-by-Step Dos & Don’ts Common Misconception...
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How CBN’s Monetary Policies Affect Your Wallet

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Are you finding it harder to withdraw cash or buy dollars? That’s not by mistake, the CBN is trying to push a cashless economy. Keep reading to find out how CBN’s recent policies affect you and how you can adapt. As much as we are not all too interested in the affairs of the country, it’s important we pay attention from time to time to avoid leaving our money at the mercy of decisions we don’t understand. Decisions like these;


1. high interest rates

2. Cashless policy enforcement

3. Inflationary pressures and weak naira

4. eNaira 2.0 push

5. Forex market adjustments

6. Focus on local production

7. Inflation -Control policies affecting fuel prices

8. Stricter regulation on microfinance banks


How does this affect you? 

1. Loans are still expensive, inflation is still eating away at the real value of money, you can’t withdraw large sums of cash without high charges so there will be more reliance on the traditional banking system.

2. imported goods and services are becoming even more expensive and your money is buying you less each month

3. It’s harder to get dollars for travel or international trade and black market rates are climbing as forex becomes more expensive

4. Buying Nigerian products could help support local industries but won't always match the quality of imports and prices of items are high due to limited local production.

5. Fuel prices are rising increasing transportation and production costs making many Nigerians spend more , leaving less and less for savings or investments.

6. Many microfinance banks are shutting down or merging because they can’t meet CBN’s new requirements.

And so on...


      These policies feel like a bullying of ordinary Nigerians who already struggle with inflation, weak purchasing power and stagnant income.

And now you know you can; 

1. Spend wisely.

2. Save and invest more.

3. Side hustles are not optional, they’re mandatory.

4. Consider an increase in legal cash transactions for minor expenses.

5. Avoid high banking charges, look for ways to reduce transaction fees.

6. Focus on being wealthy so these policies affect you less. 


         Some will say what's the point of knowing these policies but it’s important to know the policies affecting your livelihood.. where the problems are steming from. Don't you agree?


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