Mystery Money What is Money? Use this unit to discover: What do we use as money, and why? What forms of money were used in the past? Where and when were they used? How were they used? Shell and Feather Money Introduction: Money Today Metal Money Some More Ideas
What is Money? - Introduction: Money Today We use money to buy things and to pay for things. We can earn it, borrow it, invest it, save it, or give it away… What do we use as money?
What is Money? - Introduction: Money Today We use coins as money - small, flat pieces of metal. There are around 28 billion coins in circulation in the UK.
What is Money? - Introduction: Money Today We also use banknotes as money - rectangular pieces of printed paper. In Scotland, three banks (Bank of Scotland, Royal Bank of Scotland and the Clydesdale Bank) issue paper money. There are around 58 million Bank of Scotland banknotes in circulation.
What is Money? - Introduction: Money Today Writing a cheque is a way of moving money from one place to another - from your bank account to someone elses. But you can only use a cheque once. Coins and banknotes get used over and over again...
What is Money? - Introduction: Money Today Plastic cards are used to move money electronically, from one place to another. But plastic cards are not really money in themselves. What is the difference between a debit card and a credit card? The debit card allows you to pay a shop directly from your bank or building society account. This is called debiting your account. The credit card allows you to make a purchase now, but to pay for it later. Instead of taking money from your own account, the bank lends you the amount you need, or gives you credit. It then charges you interest on the loan.
What is Money? - Introduction: Money Today Why do we use coins and banknotes as money? There are various reasons why we use coins and banknotes - and many are revealed in this resource. But almost anything can be used as money, as long as everyone agrees on its value. However, some things make better money than others…
What is Money? - Introduction: Money Today Why would we find it tricky to use cows? Cows have been used as money in many countries, including India and parts of Africa. They are not easy to carry or move about. They are very big so you cant buy small things with them. You have to feed them. They might get sick...
What is Money? - Introduction: Money Today Why would we find it tricky to use eggs? In some countries people have used eggs to make payments… The Maya Indians of Guatemala used them for small transactions, as did villagers in the Swiss Alps. Try putting them in your pocket. They break! Try saving them. They go rotten!
What is Money? - Introduction: Money Today So, what are the advantages of using small pieces of metal and paper? They are easy to carry about, they dont break if we drop them, and, if we keep them for a long time, they dont go off! Our money is also easy to count. And because its flat we can put lots of useful information on it.
What is Money? - Introduction: Money Today But if coins and banknotes did not exist, or were not available, what would we use? In this unit, you can find out more about other forms of money once used around the world.
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