The World of Money! BO
illustrated by Deepa
What is a Who made
money first? Save a little
Money is important. We need it to buy things to eat and drink, to have a place to stay, and to get an education. In this book, you will learn why money is important and how we can earn money. We also need to know how to spend money and how to save it. It is important for us to have enough money during good times and bad times in our lives.
Ma, I need a new dress!
Give something, and take something else! Back in the Stone Age, if a child wanted a piece of deerskin to keep himself warm, he would have to give the deerskin owner a polished axehead in exchange for it. 2
Money is Important In the olden days barter was the only way to get something one wanted. If Damu had a cabbage but wanted a loaf of bread, and if Kushal had a loaf of bread, Damu could give Kushal the cabbage and take the loaf. In some communities, barter is still the only way to do business. But in most parts of the world today, paper money is the mode of exchange. There are many interesting ways in which money is used, exchanged, and valued in the world.
In the 1600s, people in America used tobacco leaves as exchange. Imagine carrying a stack of tobacco leaves to pay your school fees! But leaves as money is better than some other things that have been used as money.
In New Guinea, dogsâ€™ teeth were used as money, and in the Pacific Islands people used whale teeth as money. In Ethiopia, they used coins made from salt! 3
What is Money? Money is something that is given in exchange for something that you want. It could be a thing, like a book, food, shirt, house or cycle. You give money to a person in exchange for these things. We sell things. We sell services.
Sometimes what you get in return for money is not an object but a service. Money can be exchanged for a service that you need. We pay money to the railways so that a train can help us travel from one place to another. We pay money to doctors if we want them to see why we are ill or get medicines to treat our illness. Money is given to barbers who cut your hair, or electricians who repair a faulty fan.
Money is also something that can be stored for use later. We can keep money in a safe place at home, or give it to someone who will keep it safe for us. Money can also be saved in a bank (Whatâ€™s this? Refer to Book 2 - How Money Travels!) where our money can be safe and even grow. Money can be stored in many forms. Banks prefer to save money in the form of currency notes, gold coins or gold jewellery. 4
BANK We look after your money.
This series on financial literacy introduces children to the concept of money and its usage. Playful illustrations make it easy understand t...