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WHAT IS MONEY???
Money means more than the coin, paper or plastic to acquire goods and services. Money is linked to complex emotions, feelings and behaviors. Each person has "money messages" that are based on past experiences, what you observed and what you were taught. These money messages reflect the attitudes, perceptions and expectations that influence your financial behaviors today.
MONEY IS POWER, OR SHALL WE SAY, THE MONOPOLY TO CREATE CREDIT MONEY AND CHARGE INTEREST IS ABSOLUTE POWER. -ALEX JAMES
PAPER MONEY
Currency in the form of government notes and bank notes Cash in the form of banknotes Currency in paper form, such as government bank notes, as distinguished from metal currency.
HISTORY
The paper was firstly originated as in the form of coins of semi precious metals But it was very soon replaced by the currency notes due to problems like their heavy weights, depreciation, leas availability of metals and difficulty of carrying bulk amounts.
Today bank notes have even become water and fire proof ensuring long life and lesser depreciation
Most banknotes are made from cotton paper with a weight of 80 to 90 grams per square meter. The cotton is sometimes mixed with linen, abaca, or other textile fibers.
Early Chinese banknotes were printed on paper made of mulberry bark and this fiber is used in Japanese banknote paper today.
Unlike most printing and writing paper, banknote paper is infused with polyvinyl alcohol or gelatin to give it extra strength. Most banknotes are made using the mold made process in which a watermark and thread is incorporated during the paper forming process The thread is a simple looking security component found in most banknotes. It is however often rather complex in construction comprising fluorescent, magnetic, metallic and micro print elements.
USES OF MONEY
Plastic Money
Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. It includes Debit cards, ATM, Smart cards, etc.
TYPES OF CARDS
Debit Card Credit Card Charge Card Amex Card Smart Card Photo Card
Maser Card and VISA Diner Club Card Global Card Co Branded card Affinity Cards Add on Cards
ADVANTAGES
Offer free use of funds, provided you always pay your balance in full, on time. Be more convenient to carry than cash.
DISADVANTAGES
Cost much more than other forms of credit, such as a line of credit or a personal loan, if you don't pay on time. Damage your credit rating if your payments are late.
STATEMENT
H0: Plastic Money is better then Paper Money HA: Plastic Money is not better then Paper Money
METHOD
This research was conducted by questionnaire and investigated multiple age groups to identify the preference and usage of Plastic Money over Paper Money. A total of 29 questionnaires were distributed among students, colleagues, employees, business individuals to gauge the open ended results.
BASIC CRITERIA
Age Group: 18 25 26 33 34 41 42 & above Profession: Business Individuals Students Employed House Wives Income Range: < 150,000 150,000 - 300,000 300,000 450,000 > 450,000
Study outcomes
70%
65%
60%
50% 40% 30% 20%
10%
0% Card
PAYMENT PREFERENCES
Both
13%
Card
65%
Cash 0% 20%
35%
40%
60%
80%
HOLDING PREFERENCES
RELIABILITY
65%
35%
13%
Cash
Card
Both
EXPENSIVE
Card
65%
Cash
35%
SECURITY
RESPONDENT APPROACH
48%
14% 3%
Fear of Theft
Increasing Duplicity
4%
4% 4% 3% 3% 2% 2% 1% 1% 0%
Instable income
Lack of knowledge
Mal Mal Lack of practices by practices by Trust Misuse outlet Bankers by other owners
RESPONSES
CALCULATIONS
Data: Total Numbers (n) = 29 Population Mean (x)= 2.65 () Pop. St. Deviation = 0.875 Alpha () = 0.05 T cal(0.05)= 1.645 T-Test = 2.65 2.64 (0.875)/ 29 = 2.089
1.6 5
Conclusion: Accept H0
CONCLUSION
Thus we could conclude that in the era we are living the use of the Plastic Money have drastically increased and people prefer more use of plastic money as compared to paper money.
RECOMMENDATION
The stake holders need to play a vital role in expending the role of Plastic Money, thus by giving awareness and literacy to the consumers.