Using money is considered among children at an early age. However, there are several instances during which the vital facts about money are still not known. Knowing about the same will be helpful in realizing about the importance of money in normal life. Given below are some of them for your quick reference.
- Money successfully replaced earlier system of goods exchange. Referred popularly as barter system, it was in vogue when money was still not introduced. However, differences in value has brought in the invention and circulation of money across the world.
- Paper currency is the most successful form of money. However, the earlier mode of money was just coins alone. The increased use and frequent dependence upon money has resulted in the printing of currency, which has become most successful.
- Plastic currency is the latest form of money considered by most of the nations. They are known to have more life, easy exchange and flexible use. It is highly expected that plastic currency will be replace paper form in future for sure.
- Shared currency is meant to bring down the inequalities and confusions among nations. The biggest and clear example available in this regard is the European currency, which is commonly followed by most of the developed nations such as France, Germany, Denmark and Norway too.
- US Dollar holds the record for being the most traded currency across the world. The availability of online trading facility has made it even bigger with all the countries allowing currency trading. In fact, it has become one of the major financial activities these days.
- Livestock and grains were considered heavily for the purpose of barter system. However, the availability of currency has made this practice obsolete these days. Perhaps, no transaction in this world takes without the direct or indirect intervention of money.