The history of taxation and money dates back thousands of years. The two histories are closely related. Money allowed the barter system to end and to be replaced by a wider system of exchange. It greatly improved exchange since it avoided the need for a double coincidence of wants on which the system barter system depended.

Currency can be defined as being a unit that allows or facilitates exchange. Archaeological and other evidence indicates that the first forms of currency may well have been livestock. Trade based on exchanging livestock seems to have started as early as 9,000-6,000 BC.

Following the introduction of permanent agriculture, crops began to be used as currency. A farmer might trade a quantity of barley for a sheep skin. This practice was first emerged and was prominent in China.

There is also evidence that by around 1,200 BC, the Chines began using cowrie (or cowry) shells as currency for trading. The cowrie shell is a marine gastropod or large sea snail. This shell has been used as a form of currency throughout history even into contemporary history be some remote tribes. Its early practice is notable since cowrie shell, unlike agricultural crops, has no inherent value in itself.

Around 1,000 BC, at the start of the Metal Age, Chinese people started using metal tools as currency. From that point, it was a short step to using metal coins. They came soon in the following decades.

The first Chinese coins were produced using base metals, not precious metals like silver or gold. Their early coins often were punched with a hole. This allowed coins to be tied together so that they could be carried more easily. It also helped maintain their security.

Around this time, in about 500 BC, a somewhat similar practice began to emerge in Lydia or modern-day Turkey. In that region, coins began to be used for exchange purposes. Unlike the base metal coins in China, Lydian coins were made from precious metals like gold and silver giving them inherent value as well as exchange value.

They were also stamped with distinct marking to indicate their assigned value. In the history of taxation and money, these Lydian coins are perhaps the earliest relative of the coins used today.

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Getting out of debt is not easy but nor is it as hard as some people think. One first has to develop a deficit free mindset which is the opposite of a deficit ridden mind set. Concentrate on paying off obligations rather than allowing the mind to accept more financial bondage.

It is a good idea to pay off deficits before starting an investment plan because deficits limit the amount of money that can be invested. Make paying off financial obligations the primary goal and then use money to invest once all deficits are eliminated. One of the most important steps, which many people ignore, is to first build an emergency savings fund.

Build an emergency savings fund of at least five hundred dollars, preferably one thousand dollars, which will be used instead of a credit card in case of an emergency. Once the emergency savings fund is in place start to pay off the credit card balances one at a time. Start with the card with the lowest balance by sending in as much as can be afforded each month from one’s household budget.

Once credit card debt is paid off it is time to start paying off the house mortgage. Many people believe that because they have a thirty year mortgage that they have to take thirty years to pay off their house. But the longer one takes to pay off his mortgage the more finance charges he will pay when that money could be placed in a savings account.

Most people, if given the choice, would rather keep their money than give it away to the bank. But this is what people do; they give their hard earned money to the bank, by taking thirty years to pay off their mortgage. Start paying off the mortgage early by sending in a payment each month to pay off the principle of the loan in addition to the regular house payment.

Once all credit cards, vehicle loans, and all other deficits have been paid off it is time to invest. Start investing in a Roth IRA because the Roth IRA has advantages that other IRA plans do not have. Save at least fifteen percent, preferably twenty percent of the annual household budget in a Roth and let the money grow.

Getting out of debt does not have to be a gigantic undertaking but eliminating debts will only happen through concerted effort. Start by building a savings fund that will be used in emergencies instead of relying, like most people, on credit cards for emergencies. Start to pay off the lowest debts and once the lowest debts are paid off move on to the next financial obligation and build the momentum towards financial freedom.

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