Today’s video is a parenting tip about how we teach our kids with money. To get your kids interested in math, they should also learn about the value of money.
This will be a three part video about money. I will share them with you one part every week.
This first part (the video today) is about the history of money, what it is, where does it come from and where do we use it. This would be a good way to introduce your kids through money.
Next week, the second part will focus on fantastic lessons I learned from the book “Smart money, smart kids” book By Dave Ramsey and Rachel Cruze. This is about the value of money and how do we actually provide our kids with it.
The third and last part will be about “Three things you can do with money”. Spend, save, or give it away. I am going to teach you a method that I taught students for over 6 years about the value of money. In here you will learn methods about the ways we use money.
So let’s start learning about the history of money. You can continue reading or watch the video to learn more.
What exactly is money? According to dictionary.com money is any circulating medium of exchange, including coins, paper money, and demand deposits. While that may not make a lot of sense, to our money is what you use to buy the things you want.
A Long time ago money didn’t even exist. People back then had to trade for what they needed. We call this the barter system.
In this video, I had Bob the farmer as an example to share with you how barter was in the early days. Bob the Farmer knows how to grow onions and he grows a lot of them. However, Bob can’t just eat onions. He needs other things like eggs, milk, meat, bread, and fruits. How is he going to get those things? Bob had to trade for what he needed. So Bob the Farmer and goes out and find a milk man, egg lady, and a bread man to trade all his onions for the food he needs.
After a while, because barter is not always very convenient they invented money in the form of shells, metal, or even salt as money. In the video, the example we used was shells, so one time people decided shell to be the medium of exchange. So 1 shell equals an onion, 6 shells equals a loaf of bread, 10 shells equals a piece of meat, and so on for all the products. Now Bob can go to the market and trade in his onions for shells and use these shells to buy his necessities. He can even save a part of those shells for future use.
This is the start of money as a medium of exchange and it evolved into a currency. Historians believe that money was invented over 7,000 years ago. Today most countries have their own money which we call currency.
Money is always changing. We now have to have alternatives to traditional money, like credit cards, cash apps on our phones, and even bit coins. No one really knows what money will look like 10 or 100 years from now. But you can bet it won’t look like it does now.
Maybe your kids, when you make them interested with money, will even help create a new form of money one day.
Watch out for the second part of my video about money. As I have stated above, I will teach you the lessons I’ve learned from the book “Smart money, smart kids” book By Dave Ramsey and Rachel Cruze. So stay tuned.
You can also visit my other videos for more parenting tips.
Providing you with another parenting tip for raising great students.