Long ago, people used to keep their coins in clay pots at home. But sometimes they got stolen or broken. Then some clever traders said, Why not leave your money with me? I’ll keep it safe for you! That was the beginning of banks, like a super secure storage place for money. It was like having a friend who promises to hold your toys while you go play somewhere else.
Examples
- A baker leaves his coins with a trader while he goes on a trip.
- A farmer stores his gold in a jar at the town’s storage place.
- Your friend promises to keep your toys safe while you go play.
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See also
- How Did Paper Money Originate in Different Parts of the World?
- How Do Banks Make Money from Interest Rates?
- How Did Ancient People Decide the Value of Things Before Money?
- How Governments Pay for Their Debts by Printing Money
- How Did Ancient People Measure Wealth?
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