4th Quarter Official Blog entry : "Types of Money"

There are four types of money. Money has types because we can use it in many ways it depends also in the characteristics of each type of money. The first type of money is (1) Goods and Services. This type of money is also known as traditional barter system. It is the oldest type of money even our ancestors us this type of money when they need something, they use goods and services type of money. For example our ancestors needs food to eat, they will work for it and have service to the person that they will get the food that they need. The second type of money is (2) Metallic money. For me this type of money is for rich people, because metals are usually expensive like gold, copper, silver, and brass. Those are the examples of metallic money. For example, you don't have money yet and you need to pay your credit to you friend, and you friend need badly a money, then you only have gold ring. You may use the gold ring as the payment or as money to pay your credit to your friend. Coins are also example of metallic money. The third type of money is (3) Paper money. These are the notes or checks from bank. These type of money is used if there is an absence of money. But this type of money should supported by the government or by the authority issuing it. This is usually used by rich people or in businesses. The last type of money is (4) Card Money. For me this type of money is common. These are small plastic cards usually issued by banks or credit companies. Card money is easy to use and it is portable. For me it is the best type of money that we can use, because even if it is caught by a criminal, it is not easy to get the money, just tell to the bank to issue you a new bank card. It is also the safest to use in malls because it easy to use it when you are in cashier you don't have to count the money, it will just deduct to the balance money in you bank account.

These are the four types of money, so we should be careful in using it.