Money, Values & You — A Financial Literacy Course for 6th Graders
| Term | Definition |
|---|---|
| Barter | The direct exchange of goods or services without using money. |
| Double Coincidence of Wants | Both people in a barter trade must want exactly what the other has. This makes barter difficult. |
| Money | Anything a group agrees to accept in exchange for goods and services. Works because of shared trust. |
| Intrinsic Value | Value that comes from the thing itself (e.g., water quenches thirst). |
| Assigned Value | Value people agree to give something (e.g., a $20 bill is just paper but agreed to be worth $20). |
| Hyperinflation | When money loses value very quickly because trust in it collapses. |
| Tool (money as) | Money helps you accomplish purposes, like a hammer helps you build. It is not the goal itself. |
| Amana | Islamic concept of trust/stewardship. Everything we have is entrusted to us and we must care for it wisely. |
| Stewardship | Taking care of something responsibly, knowing you will be accountable for how you used it. |
Before money, people used barter (direct trade). Barter broke down because of the double coincidence of wants. People invented money — from shells to coins to paper to digital — as a shared agreement that solved these problems.
Money has value because of trust and agreement, not because of what it is made of. Intrinsic value comes from the thing itself; assigned value comes from agreement. Governments back currency and maintain trust.
Money is a tool that helps accomplish goals. It is neutral — not good or bad. When money becomes the goal instead of the tool, people lose sight of what matters. Purposeful spending means asking "why" before you buy.
Amana is the Islamic concept that everything we have is a trust. We are stewards, not ultimate owners. This means spending wisely, saving, giving, avoiding waste, and being grateful.