Essay On Money in English for Classes 1,2,3 Kids: 10 Lines & Paragraph (2024)

Money’s history goes back to the days of the barter system in Western Europe when traders would exchange goods/services for another product. Various countries had unique ways of trading before the currency was developed. Money is an essential commodity used to survive and thrive. We cannot live without money, and it covers our basic needs. Children need to understand the role of money in daily life. Writing an essay on money for classes 1, 2 & 3is the best way to start.

Key Points To Remember When Writing An Essay On Money For Lower Primary Classes

Without money, it would be not easy to enjoy a degree of freedom and improve the quality of life. Given below are some critical points to remember when writing an essay on the value of money.

• An essay has three basic parts – introduction, body, and conclusion.
• Write an introduction emphasising thevalue of moneyin our life.
• Include points like the importance of money, things we can do or buy with money, its global acceptance, etc.
• The conclusion should summarise the points mentioned above.

10 Lines On ‘Money’ For Kids

Money is one of the easiest ways to gain trust and garner reputation since it is backed by value. It’s a mode of convenience and can be stored in different ways. Here are afew lines on moneywhen writing anessay for classes 1 and 2.

1. Money helps you buy materialistic things like homes, cars, toys, and other tangible assets.
2. Earning money adds meaning to people’s lives and gives them hope, so teach them the value of money.
3. Money lets you enjoy freedom since it prepares you for early and comfortable retirement.
4. The purpose of making money is not just to pay bills but improve your overall quality of life.
5. The difference between the rich and poor is how the people plan and manage their finances. Anyone can become rich in life if they spend their money wisely.
6. Money can improve your health and happiness by buying better quality food and shelter.
7. Hard work, dedication, and passion are all essential qualities needed to make money.
8. Money brings equal opportunities to all individuals across the world.
9. Money can help afford better education and open up multiple career options.
10. If money is misused, it can lead to terrorism, pandemics, starvation, corruption, and other manmade issues.

A Paragraph On ‘Money’ In English For Children

Kids must understand the value of money and its requirement in daily life from an early age. Given below is a short paragraph on money for their reference:

Money can be one of the biggest motivations for learning new things, improving well-being, and striving to make the best of life. Without money, people can lack purpose and be easily demotivated to continue moving forward. Money is a basic need through which all our other requirements are met. We need money to buy resources such as food, drinks, clothes, and leasing or renting properties. Money is also essential for various things like school fees, paying salaries to employees, and starting a new trade line or work. Every country has its own currency. The Indian currency is the Indian Rupee.

Short Essay On ‘Importance Of Money’ For Kids

Money is one of the most crucial factors for living a comfortable life. Below is a short essay on the importance of money for kids:

One of the best reasons to accumulate money is that it stores its value. The worth of Rs. 1,000 today will remain the same a few months later. Money is used as a widely accepted payment method in different countries, and governments recognise it as legal tender for paying off debts, both public and private. Every country has its own currency. The Indian currency is the Indian Rupee. Printed paper notes are accepted by professionals who offer various services such as car repairs, medical treatments, cooking, beauty and salon treatments, etc. Money can be stored in a bank and be exchanged for other commodities such as gold, bonds, stocks, shares, and investments. There are many forms of money used throughout human history, and the best characteristics of money are durability, uniformity, divisibility, and limited supply. Money classifies your status in society. Education, hard work, and perseverance are essential skills helpful in making money in the long run. Every person in the world works hard to earn money, and it’s vital to possess in-demand skills so you can get jobs in the market.

Long Essay On ‘Money’ For Children

Money is crucial for fulfilling the basic survival requirements in today’s time. Here is a good longessay for class 3on money:

Money is essential; in today’s world, nobody can survive without it. There is a saying that money makes the world go round, and it’s true. You can fulfil most of your dreams by spending money, and it’s a fact that earning good money classifies your income status. Education, hard work, and perseverance are essential skills for making money. Every nation has its own currency, and the Indian currency is the Indian Rupee.

Evolution Of Money

Here are the stages money went to undergo an evolution:

1. Commodity Money

In the days of early civilisation, any commodity used for exchanges or transactions was considered money. For example, if you had conch shells and wanted a cow, you could exchange those conch shells to get a cow!

2. Metallic Money

This took the form of metals like gold, copper, silver, etc. So, you would trade with these metals. For example, trade one piece of gold for 4 pieces of silver.

3. Paper Money

After metals came paper on prints, this is the dollar or rupee we know today and regulated by the RBI or similarly concerned authorities.

4. Plastic Money

Credit and debit cards fall under plastic money.

What Are The Uses of Money?

Money is used for:

• Buying goods, services, products, and various essentials
• Repaying debt and as legal tender
• Holding finances and storing them for their value as long-term investments or savings
• As a medium of exchange and for donations to charities
• Purchasing gold, silver, and other tangible assets

How To Teach Your Child To Save Money?

Here are some tips to guide your kids on theimportance of saving money.

1. Reward Them

Give your child an incentive to save money. The best way is through rewards such as giving them bonus money at the end of every month, in exchange for saving more.

2. Encourage To Set Goals

Inculcating a positive money mindset is key to saving and growing finances. Teach your children the importance of saving for their future.

3. Gift A Piggybank

A piggy coin bank is a great way to save money. The kids will get obsessed with filling it up and waiting for the chance to break it open! Great motivation.

4. Let Them Work

Allow your kids to do odd jobs or take up summer vacation work if they want to. This will give them valuable life experiences and teach them business skills.

5. Tell Them Stories Of Rich People

Inspire your kids with stories of billionaires and affluent figures in life who grew from nothing.

6. Buy Them Books

Many books on money are written for kids to teach them basic concepts and help teach kids the importance of money. These make for good reads.

7. Tell Them To Pursue A Hobby

If kids master a skill or hobby, tell them they can earn good money by teaching the same to others. For example, if they like guitar, ask them to learn with complete dedication and later, you can teach other kids and have some savings.

8. Appreciate Their Efforts

Tell them thanks and express your gratitude from time to time when you see them saving money. This will motivate the kids and leave feel-good vibes, which goes a long way in saving more.

Interesting Facts About Money For Children

Here are some fun facts about money for kids:

• George Washington is the icon on the quarter.
• US currency is the most traded around the world.
• Coins last longer than bills.
• There is an image of Mahatma Gandhi on Indian currency.
• The first coins were introduced around 2,000 years ago.

What Will Your Child Learn From This Essay?

Your child will learn the importance of saving money, improving life skills, and making an income as they grow. This will set them up for a comfortable lifestyle and live stress-free.

FAQs

1. How Is Black Money Different From White Money?

Black money is not added to accounting records and is made illegally. All taxes and TDS are paid and reported to authorities for white money.

2. What If Money Didn’t Exist?

If there was no money, there would be chaos. Humans invented money as a means to transact and make sure exchanges were fair. If money is removed from existence, another exchange system would have to come into play for the smooth functioning of life.

That’s all you need to know for now. Make sure your child has fun writing the essay and teach them the value of saving money for their future!

Also Read:

Essay On Happiness for Kids
Kindness Essay in English for Children
Essay On Discipline for Lower Primary Classes