People nowadays cannot survive without money. The role of finance is to buy basic and luxurious things in life. Barter trade system was used before the currency system to elk out a living. Barter trade system carries the exchange of commodities for commodities. It was for an example known for the blacks to exchange animal skins for jewelry items with the whites. Barter trade system was being accompanied by many disadvantages as compared to the currency system. Barter trade system made people to tire much through journey on foot. Traders were usually at risk of attacks from wild animals. The cold weather and the scorching sun made traders to be vulnerable to diseases such as common cold and skin diseases. It is through technology that the currency system came into existence. The currency system is all about the use of manufactured money for business reasons. Cash in the currency system is made up of metal and paper material. Coins are usually lower in value as compared to paper money. It does not require businessmen to move from one place to another for profit gain by use of the currency system.
It has been noted for the currency system to be easy and convenient to apply as compared to the barter trade system. The use of the currency system has opened financial institutions. The role of financial institutions is to aid individuals financially. Real investors for an example can get a mortgage in a given financial institution. There are found to have public and private institutions. It is known for the private financial institutions to be opened by an individual or group of individuals while public financial firms by the government. There are also credit cards and debit cards through the currency system. Credit cards and debit cards are transaction cards made from metal and plastic material. Individuals find it easy to use and transport financial cards. Credit cards are more secure than debit cards. It is possible for individuals with credit cards to claim for the stolen or lost items as opposed to debit card users.
The use of credit cards is gaining popularity in the current world. There are many types of credit cards. One should try to apply for the right credit card of their choice. There are some various factors to consider when applying for a credit card. You should begin by doing a research to get the right credit card of your choice. It should be your goal to first consider the amount of interest rate charged by the giver of the credit card. You should qualify for a credit score when applying for a credit card. You should also research on the benefits of a credit card through offers before applying it.