Who Invented Money?
Summidate
English audio · The Dr Binocs Show. Ages 6–8 is our suggested browsing category, not a publisher rating. Discuss: what could be difficult if we could only trade objects? An internet connection is required; use the link below if playback is unavailable.
Before you watch
This video from The Dr Binocs Show introduces the idea of barter and how people came to use money. We suggest it for children aged about 6 to 8, watched together with an adult. Before pressing play, ask your child a simple question: “If there was no money, how would you get a new pencil?” Their answer is a good starting point for the conversation afterwards.
What is barter?
Barter means swapping one thing directly for another, for example trading some apples for a loaf of bread. It sounds simple, but it has problems. The other person has to want what you have, at the same time that you want what they have. Some things are hard to split into smaller parts, and some things spoil quickly. Money solves these problems because almost everyone accepts it and it can be saved for later.
Questions to discuss after the video
- What could be difficult if we could only trade objects?
- What would you trade for a new toy? Would the other person want it?
- Why is it useful that money can be kept for later?
- What do we use today besides coins and notes? (Cards and phones are good examples to talk about.)
Try a barter game at home
Give each family member a few small items, such as stickers, crayons or snacks. Try to trade for something you want without using money. After a few rounds, introduce paper “coins” and try again. Ask your child which round was easier and why. This turns the ideas from the video into something they can feel for themselves.
From trading to saving
Once children understand that money can be kept for later, saving starts to make sense. A piggy bank is a simple first place to keep coins and watch them add up. You can continue with three jobs for pocket money or draw a path to a saving goal.
Please preview the video before sharing it with your child, and supervise use of YouTube. The video is made and hosted by its publisher, not by Summidate.
