source of savings

Savings throughout history: origin and curiosities

Saving is a very healthy act and a way to save your back for the future. Encouraging savings in children allows to lay the foundations for an adequate management of the future economy. But saving has its roots in history, first in the form of material goods and later in money. Go ahead and learn about the origin of savings and how it has evolved over time.

This was the origin of savings

In ancient times, money did not exist as such and therefore saving was not an economic act. Ancient civilizations around the world saved on spices, usually grain. This served to face periods of bad harvests and shortages. Saving grain was a way to anticipate the future and to guarantee food.

With the appearance of money, commercial operations began, to the detriment of the barter of products. It can be said that saving as we know it comes from the 15th century, in Perugia, Italy. The Franciscan monks kept part of the alms and perks they received from the crown, giving rise to a monetary fund. This gave way to the Montes de Piedad, institutions that are still in force and were born to combat usury.

The ecclesial institution has always enjoyed goods, and with these it was able to obtain money, generally by selling them. In this way, the church was able to make loans for which it charged interest, giving rise to the appearance of savings banks and banks.

The etymology of saving

The word savings comes from Arabic, using the term "hurr" and which means "free." This word was derived until "horro", which was the term used in the Middle Ages used as "liberation from slavery." And there is no more certain meaning for saving than this, since saving money allows us to become free, taking away an expense.

Curiosities about saving

The piggy bank is the symbol of savings, who has not had a piggy bank? And this is so because this animal is a symbol of prosperity in the world. The pig takes advantage of everything, and it was what families lived in ancient times. In times past, a pig from the litter was always reserved to be sold in a financial distress. This is what he has given as a symbol of the piggy bank to this friendly animal.

Do you want to know which is the country with the highest rates of savers? Qatar and Kuwait vie for first place, due to their oil prosperity. In China they have a deep-rooted culture of savings. The Chinese have an enormous capacity for work, and they always reserve a part of their income for contingencies. In case of financial difficulty, they secure a monetary cushion that comes in handy. Good proof of this has been the closure of Chinese establishments during the pandemic. It is something that they were able to do without problems because their managers always keep a large part of their earnings in the form of savings.

The origin and development of savings has served to cover their backs in case of difficulties throughout history, and will continue to do so in the future. Do you need ideas to save? We give you the best and simplest in this article.

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