Since the origin of civilization humankind has been dealing with tools like savings account, budget planner, spending tracker, wealth management, and savings account.
Which ancient civilization practiced early forms of saving and had a system similar to modern-day savings accounts?
The ancient civilization of Babylonia is known to have practiced early forms of saving and had a system similar to modern-day savings accounts. The people of Babylonia would deposit their valuable possessions, such as grain or livestock, with a trusted individual or temple in exchange for a receipt. This receipt could then be used to later retrieve their belongings, similar to how a savings account works today. This system allowed individuals to safely store their wealth and easily access it when needed.
