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Money is a legal currency that is used for various transactions and contracts here on earth. Money can be in the form of hard cash like banknotes coins. In addition, they exist in other forms like cheques, credit cards, or digitally. However, money is an essential ingredient for the survival of humans. In fact, the majority of people out there are motivated to do what they do because of money.
Furthermore, money grants you the opportunity to acquire as many assets as you want. But, how well do you know about this thing called money? Why is it so important? The answers to the above questions and many more you will find in this 100 facts compiled specifically about money.
1. Money has a short life span, hence, most money printed is simply replacing worn-out money.
2. Research shows that money hosts a wide range of bacteria and viruses. Therefore, wash your hands after handling money.
3. The main purpose of money was for the purchase of goods and services.
4. Interestingly, money can be used to determine the value of a thing—the higher the price the greater the value.
5. Previously, money existed in the form of coins until modernization stepped in. A form of currency usually metallic in nature.
6. The Romans were the first to stamp the image of a living person on a coin— Julius Caesar stamped his image on a coin in 44 B.C.
7. Shared currency exists in Europe, where countries like France, Germany, and Spain use the Euro.
8. The most traded currency across the globe is the United States dollar.
9. The most valuable currencies in the world include the United States dollar, euro, Japanese yen, and pound sterling (British pound).
10. Over 10,000 years ago livestock and grain produce were used as money— the barter exchange system.
11. Coins came into existence about 2,500 years ago.
12. Did you know that paper money was first used in China over 1,000years ago?
13. Coins are said to be more portable and durable. In other words, it lasts much longer when compared with banknotes.
14. Surprisingly, the original value of a British pound was equal to a pound (in weight) of silver.
15. Historically, Romans used salt as money— During those times, salt was a valuable commodity, also referred to as “white gold.”
16. For every inflation there is a decline in the value of money in that country.
17. Coins are produced in factories known as mints.
18. ATM technology is on the increase every day. Currently, there are more than 1.6 million ATMs in the world.
19. Majority of countries have their own currency but some countries share similar currencies.
20. Did you know that there is a name for the study and collection of money? It’s called “numismatics”.
21. Zimbabwe is the country with the worst inflation in the world— This is due to institutional corruption and a lack of confidence in the government and currency.
22. Queen Elizabeth II is the only person who has appeared on more currency than anyone else.
23. The largest mint in the world is located in Philadelphia.
24. About 90% of the world’s currency exists in electronic forms— Mainly cryptocurrencies, which are being viewed as the currency of the future.
25. Globally, banknotes, and coins make up just 8% of the world’s currency.
26. To a large extent politics influences money. The government in power can decide to balance the circulation and printing of money or vice versa.
27. Automatic Teller Machine (ATM) spans across the seven continents in the world.
28. Monopoly money printed every year is greater than actual money— These are printed money in different colors and domination used in the game of Monopoly.
29. It will interest you to know that the word “salary” comes from sal, meaning “salt” in Latin.
30. Credit cards were first used in the United States in the 1920s.
31. The actual meaning of “Cent” means Hundred, derived from the Latin word centum.
32. The most expensive project ever built was the International Space Station at $150 billion U.S.
33. Historically, seashells were used as money for buying goods and services. These is commonly known as cowrie shells used during the 14th century.
34. Did you know that it would take Bill Gates 218 years to spend all his money that’s if he spends $1 million a day?
35. The first credit card was introduced in 1950 by Diner’s Club.
36. Approximately, it takes about 15 years of training to become a money engraver. These are people that design the outlook of money during the times when the government had no special machine for it.
37. Globally, an average adult has about 10 credit cards. This is because credit cards allow you to purchase things before paying for them.
38. Banknotes can’t be exhausted, because new ones are produced every day to continue the cycle.
39. Paper Bills were never made from paper, in contrast, it’s 25% linen and 75% cotton.
40. The penny is the only coin where the figure faces to the right.
41. Counterfeit currencies are easily detected because they are extremely perfect.
42. Disney World has its own currency used for transactions within its system.
43. Sadly, no living person can have their face on any currency, irrespective of your status or achievement until you’re dead.
44. The U.S dollar happens to be the reference point for most money transactions.
45. Did you know that 7 tons of inks are used to print money every day?
46. Compared with banknotes, coins can last an average of 30 years in circulation.
47. Pennies contain copper in their makeup.
48. Most people accumulate more debt through credit cards. This is because you can buy things on credit and pay later.
49. Piggy banks originated from “pygg,” a clay used for making jars that held money.
50. Apple company earns $300,000 per minute. Apple is an American technology company that specializes in the production of electronics, computer software and online services.
51. Research shows that more people visit the ATM on Fridays compared with other days. Maybe because it’s the weekend!
52. No expenditure is too small to be recorded, record everything.
53. To avoid financial struggles, watch the way to acquire debt mostly in the form of loans.
54. Being financially literate provides you alternative outs of every financial situation.
55. Living above your means is the fastest route to financial bankruptcy. This means you get to spend all your money before your next salary comes in.
56. Oftentimes to prevent financial problems secure more than one source of earning.
57. To have the right money mentality, begin by thinking like an investor, not a consumer.
58. Whatever may be your source of earning, ensure it can stand the test of time. In other words, your source of earning must not be affected because you’re sick or when the business suffers financially.
59. Planning and having a money budget help you spend your money judiciously.
60. To grow financially, spend more on acquiring assets rather than liabilities— Assets are things of value!
61. To stay in control of your money, become responsible for your spending. This implies you must know the reason for every purchase you make.
62. When buying things go for things that are necessary and urgent and not just because you like them.
63. The higher your earnings, the higher your expenses. In essence, money discipline is needed to utilize your earnings.
64. Always have some money set aside for emergencies, this prevents you from cutting into your savings or running into debt.
65. To remain financially happy avoid comparing your earnings to that of others or try to spend the way they do.
66. Insufficient money can drive you crazy. Hence, don’t be quick to spend all your earnings, save more!
67. Money doesn’t seem to satisfy, but you can enjoy the one you have by being content.
68. Excluding emergency plans, you should also plan for large expenses like projects.
69. To tackle overspending, identify your spending triggers— What are those things that make you lose control over your money? This could be friends, material things, family and more.
70. Always make money plans ahead like 6 months or a year, money plans and goals. This helps to be accountable for your money.
71. Avoid borrowing most especially loans unless you truly need it for something profitable.
72. Keeping a money record helps you set wise money goals. Get a book and document all the incoming and outgoing money.
73. With the ever-increasing needs, living on stagnant wages for years may not be able to solve your financial needs.
74. Before every purchase always compare and contrast, if possible look for discounts, coupons, or cheaper alternatives.
75. The ability to delay gratification will help you grow better in handling money.
76. One way to avoid running into debt is by resisting the urge of purchasing things using your credit cards when you know you can’t complete the balance any time soon.
77. Irrespective of how little it may be, always put some money in your savings account. It’s one way to build a healthy money attitude.
78. Building and maintaining healthy money habits is quite difficult, but in the end, it’s worth it.
79. It’s never too soon to begin planning your retirement plans. This is a money strategy that will sustain you when you eventually stop working and earning monthly.
80. Investing is one way to build your wealth—the higher the risk the bigger the profits.
81. Perhaps, you still struggle with your finances, having a financial advisor is never a bad idea.
82. To effectively manage your money, expand your knowledge about money management.
83. Except it’s a fixed price, don’t forget to negotiate before every purchase— Negotiating cuts down the prices of things and helps you save too.
84. There seems to be a connection between your health and your money, hence take good care of your health because health is wealth.
85. To achieve progress, always set aside one minute every day to review your transactions.
86. Allocate at least 20% of your income toward financial priorities. Things like savings, emergency funds or investment.
87. Budget about 30% of your income for lifestyle spending. This includes entertainment and happy moments.
88. Research shows that those with healthy self-esteem easily build healthy money habits.
89. Those you call friends can influence your money attitude either positive or negative, depending on their money attitude.
90. Be committed to attending seminars and programs that will enhance your money ideas.
91. To grow your wealth, banish toxic money thoughts like “I can never be financially free”.
92. Appreciate and celebrate yourself now to remain motivated towards tomorrow’s goals.
93. Did you know that staying physically fit improves your productivity at work? When you’re healthy, you’re able to work effectively to earn more.
94. To gain more money you must give out money—a profitable investment
95. Whenever you get a raise, give your retirement savings a raise too. It’s necessary, don’t wait until the dying minutes which might be too late.
96. Money grants people the freedom to do what they want to do with their time.
97. Money is magically endowed with the power to aid the actualization of certain dreams and goals. This means 70% of one’s goals are hindered due to lack of funds.
98. Oftentimes, some people derive security from the amount of money they have. In essence, they feel more secure when they have more money.
99. Uncultured thoughts about money leads to an obsession that can lure a person into dubious means of getting money at all costs.
100. One of the disadvantages of money is that it causes friction in relationships by bringing disagreement— Everyone has a different money mentality and may not buy into another person’s money suggestions.
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