MONEYMONEY

Earning, Saving and Earning, Saving and Spending MoneySpending Money

By: Margaret HallBy: Margaret Hall

Before MoneyBefore Money

A long time ago, there A long time ago, there was no money. People was no money. People didn’t need any. They didn’t need any. They grew, gathered or hunted grew, gathered or hunted for their food. They for their food. They built their own houses built their own houses and made their own and made their own clothing. Sometimes clothing. Sometimes people had things that people had things that others wanted. A woman others wanted. A woman who made beautiful pots who made beautiful pots might want a basket that might want a basket that another woman made. another woman made. They would They would barterbarter, or , or trade, with each other.trade, with each other.

BarteringBartering Bartering worked most Bartering worked most of the time. But of the time. But sometimes people sometimes people couldn’t agree about couldn’t agree about what was fair. They what was fair. They started to trade started to trade objects that had objects that had valuevalue to everyone. Salt, to everyone. Salt, grains, feathers, grains, feathers, shells, beads and even shells, beads and even fish hooks were used fish hooks were used like money is today.like money is today.

The First MoneyThe First Money

As time passed, people traveled farther from home to trade. As time passed, people traveled farther from home to trade. It was hard to carry things like salt, shells and fish It was hard to carry things like salt, shells and fish hooks. Someone came up with a better idea. Everyone agreed hooks. Someone came up with a better idea. Everyone agreed that metals like gold and silver were valuable. People that metals like gold and silver were valuable. People started to use them for trade. Before long, people all started to use them for trade. Before long, people all over the world used over the world used coins coins to trade for things. to trade for things.

Money TodayMoney Today

There are six There are six coinscoins used in the used in the United States. United States. Each one looks Each one looks different and has different and has a different value. a different value. How big a coin is How big a coin is does not tell you does not tell you how much money it how much money it is worth. is worth.

Paper MoneyPaper Money

There are different There are different kinds of paper kinds of paper money, or money, or billsbills. . In the United In the United States, they are States, they are all the same size, all the same size, but each has but each has different word and different word and symbols printed on symbols printed on it. Each is worth it. Each is worth a different amount a different amount of money.of money.

A five dollar bill is A five dollar bill is equal to 500 pennies.equal to 500 pennies.

NeedsNeeds

There are many There are many ways to spend ways to spend money. People money. People spend money on spend money on food, clothing, food, clothing, and a place to and a place to live. These live. These things are things are called called needsneeds. .

WantsWants

People also People also spend money on spend money on wantswants. Wants are . Wants are things they things they would like to would like to have, but could have, but could do without. Toys do without. Toys and games are and games are wants.wants.

Now it’s time to see what Now it’s time to see what you know about money. you know about money. Follow your teachers Follow your teachers

directions and show the directions and show the coins you would use to buy coins you would use to buy the snacks in the next the snacks in the next part of the lesson.part of the lesson.