The History of Money and Payday Loans

How Payday Loans came into our Lives

Today, we have the option of payday loans to support us if we are need of money now. How did payday loans begin?  How was money created? Years back, in a village named Phenice, a man needed some food to nourish his family, so he went to his neighbor and asked him if he had some. The neighbor did have some extra, but the only way he would let go of his extra food was to trade it for another good, or even trade it for a good that was coming, like a crop in spring.  This was a sort of payday loan.  You get what you need today and pay it back over time.

How Money came into our Lives

Our man didn’t like this way of trade, he considered it impractical and so he started to think how to improve it. Finally, he got a wonderful idea – people could use little pieces of metal. It was very handy, it took just a little space and you could always have it with you. Thus money was created.

How Money Grew

Since then, money has experienced a long evolution. Pieces of metal became different denominations; copper, tin, bronze, gold, silver, and paper money started to be used. Every country put their own symbol on their money. Step by step, each currency gained its own value.

Then there were big banks

Soon a big banking system was created. Nowadays, you can go anywhere with a small credit card made of plastic and you have no problem buying anything you want. But that's not all; you can easily obtain a payday loan within a few hours by pushing a few buttons on your computer. ... click here to read the rest of the article titled "The History of Money and Payday Loans"