Roman finance

Hi there, kiddo! Today we're going to talk about something called "Roman finance." Do you know what money is? It's the stuff people use to buy things they need or want. In ancient Rome, people used something called "coins" to buy things. These coins were made of metal and had pictures of famous people, animals, or symbols on them.

Now, just like today, people in ancient Rome needed to borrow money sometimes. Have you ever borrowed money from someone? Maybe you ask your parents for some money to buy candy or a toy. But what if someone needs to borrow a lot of money, like to buy a house or start a business? That's where Roman finance comes in.

In Rome, there were people called "moneylenders" who would loan money to people who needed it. But they didn't just give the money away for free – they charged something called "interest." That's like a little extra bit of money that the borrower has to pay back along with the original amount they borrowed. The interest rate could be pretty high, sometimes even up to 48% a year!

But the Romans also had something called a "bank." A bank is a place where people can deposit their money and earn interest on it. So instead of just keeping their money under their mattress, they could put it in the bank and it would grow over time. And if someone needed to borrow money, they could go to the bank and get a loan.

There were also people called "financiers" who were kind of like modern-day investors. They would give money to a business or project and then share in the profits if it did well. This helped businesses get started and helped the financiers make more money.

So there you have it, kiddo – a simple explanation of Roman finance! Just like today, people in ancient Rome needed to borrow and invest money to make their lives better. And they had some pretty clever ways of doing it!