Money matters

Modern life relies on money, so what is it and how can you manage it?

Money influences everyone’s life, but there was a time before it existed. Before money was invented, people would simply swap their goods. This trade was known as bartering. For example, a person good at fishing would barter some fish with someone who grew vegetables – so they both had a more interesting meal. However, bartering takes a long time because you need to find someone who has what you need and also wants what you have. By 600BC, King Alyattes of Lydia (now in modern Turkey) created the first official currency. His government distributed coins made of a mixture of gold and silver. The coins were of value to everyone in the kingdom so could be used to buy many things. Paper money was introduced in China during the 7th…

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The Week Junior (Digital) - 1 Issue, No. 132

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