1. What would you do if you had $50.00? *Thinking about your choices can help you use your money wisely.

2. Whale teeth were used as a source of money. At about 1200 B.C. in China, cowry shells became the first medium of exchange, or money. The cowry has served as money throughout history even to the middle of this century.

3.  Money is anything that is widely accepted in exchange for goods and services.

4.  I read that using money is easier than bartering. But why? It says that money is easier to carry and money has a SET worth. If I barter, I would have to come to an agreement about the goods or services to be traded. *Bartering is a way for people to pay for goods and services if they do not use money.

5. Income: the money people earn for work MAIN IDEA: People use the income they earn to pay for goods and services Budget: a plan for using money. Think: If a person trained to become an EXPERT in a special field, what could we INFER about his or her income?

6.  To save money, people may put it in a bank. The longer you keep your money in the bank, the better INTEREST it earns.  INTEREST: the money the pays you for keeping your money there.