Different Types of Money

     There are different types of money : goods and services, metallic money, paper money and card money. The first type of money is also called the "traditional barter system", it is the least effective system of exchange and it is the type of money that is used in the absence of money. For example, you are a debtor and you owed the creditor P5000 and promised to pay it, the day after tomorrow but when the day comes you do not have yet the amount you owed then you must exchange a property of yours to replace the one you used and owed to the creditor. The second type is metallic money, it is precious metal like gold, silver, brass or copper and it has been used traditionally. This are the Philippine peso coins used in our country. The third type of money is the paper money, these are notes/checks/bills. The development of this type of money is supported by the authority. This are the most used type of money. The last type is the card money, these are small plastic cards usually issued by banks and credit companies instead of cash. This type is commonly used by executive people and the workers of our country.

Card Money

Metallic Money

Paper Money

Paper Money