Despite the decrease in the popularity of paper money, money continues to form the world go round and round. There are such a lot of different currencies and denominations you’ll spend your whole life researching and not see each coin or bill produced. Each day more money is created and old money is recycled. Some coins cost more to provide than their face price, some square measure terribly rare etal are clearly used for recreational activities outside of buying services. Did you recognize that nearly 50% of people don’t know the difference between a cash ISA and a Stocks and Shares ISA. Hence this are some fascinating facts about money are listed here
12 Amazing Facts About Money :-
PAPER CURRENCY BEGAN IN CHINA
The first recorded use of currency is in 7th Century China during the Tang dynasty. Merchants who didn’t wish to carry around heavy copper coins exchanged privately issued bills instead.
However the first case of the paper itself truly being the money came about during the Sung dynasty within the 11th Century after a copper shortage. The Chinese had been exchanging paper currency 500 years before the follow became widespread in Europe throughout the sixteenth Century and had even suffered a money crisis because of high inflation!
EVERY BANK NOTE IS CONTAMINATED WITH COCAINE
Yes, bit worrying this one – Every bank note is contaminated with cocaine within a couple of weeks of circulation.
That’s not all, did you know there are more germs on a £1 coin than on a toilet seat? Or that the average banknote has over 26,000 bacteria on it? The lesson here is clear, wash your hands when handling money – dirty money indeed!
UK ADULTS ARE OVER £1.4 TRILLION IN DEBT
Yes, depressingly, at the end of April 2015 people within the United Kingdom owed £1.434 trillion altogether.
This is an extra £537 per adult compared to the same time last year!
THE AVERAGE UNITED KINGDOM ADULT IS OVER £28,000 IN DEBT
Following on from 4. we found that the average debt of a United Kingdom adult is £28, 403. This is worrying because the average salary is £25, 948, that means the average adult owes more than they earn in a year!
THE TOP 1% WEALTHIEST PEOPLE IN THE WORLD HAVE 50% OF THE WORLD’S WEALTH
Yes, this one is pretty surprising – According to Oxfam, the highest 1% of wealthiest people have 50% of the world’s wealth. by 2016, they’ll own even quite half! Worse than that, the 80 richest people within the world have the same quantity of money as the bottom 500th of the world!
LONDON HAS THE MOST ULTRA HIGH NET-WORTH PEOPLE
Ultra high net-worth people are people who have £21m or additional in assets besides their main home –and London is that the place with the highest number of them. There are over 4,000 of these families living in London – which means it’s something of a hotspot for the 1%!
A LOT OF MONOPOLY CASH IS PRINTED ANNUALLY THAN REAL MONEY IN U.S.
About $30 billion of Monopoly money is printed annually, compared to $972 million in the United States. This means that Monopoly is printing 30 times the number of cash that the U.S. is!
30 % OF UNITED KINGDOM HOUSEHOLDS HAVE NO SAVINGS AT ALL
According to TSIP, 30 % of United Kingdom households don’t have any savings at all! A further 20% have less than £1,500 to cope with an unexpected emergency before going into debt. Even a lot of worryingly, 1 / 4 of households would be unable to pay a mortgage rise of £250 a month while not going into debt!
OVER 13 MILLION PEOPLE ARE LIVING IN POVERTY WITHIN THE UNITED KINGDOM
Despite an rising economy, there are still over 13 million people living in poverty within the United Kingdom. There’s nobody definition of poverty, but a standard definition is 60 % below the average national income.
THE FIRST ATM MACHINE WAS INSTALLED IN 1967
The ATM was the production of Scottish inventor John Shepherd-Barron, who came up with the idea while in the bath! He pitched the idea to Barclays and the machine, once built was installed in London in 1967.
THE TREND FOR CHILDREN TO EARN MORE THAN THEIR PARENTS FINISHED 5 YEARS AGO
Another depressing fact, children stopped earning over their parents 5 years ago – and many are ending up worse off. Even those successive generations who did earn more than their predecessors spent more, which means they’ve saved very little.
IN 1945, 12% OF BRITISH NOTES WERE FAKE
In an attempt to destabilize British economy during the Second world war, Nazi Germany made a large quantity of fake British notes. By 1943, 500,000 fake banknotes a month were being created by the Germans and, in the end, 12% of British notes in circulation were fake. British government responded by introducing the metal thread and stopping its production of higher value bank notes.
Thankfully fake notes are plenty less common now. In 2014, 430,000 fake notes were taken out of circulation – all together they’d a value of £8.1 million. This, however, is a small percentage of the 3 billion real notes in circulation.
Did you discover these facts surprising? Maybe you’ve got an interesting fact you could share? Let us know in the comments below.