Short Answer 
Early saving practices were established by ancient Egyptians around 3500-3000 B.C., resembling modern savings accounts. The evolution of money began in Mesopotamia and Egypt, leading to the creation of standardized coinage in Lydia and Ionia in the seventh century B.C., which greatly enhanced trade efficiency.
Step 1: Understanding Early Saving Practices
Ancient civilizations, particularly the Egyptians, were pioneers in the early forms of saving. Around 3500 B.C. to 3000 B.C., they developed systems that resembled modern-day savings accounts. This advancement allowed individuals to accumulate wealth, even though most people lived in poverty.
Step 2: The Evolution of Money
The concept of money as a medium of exchange and a store of value emerged during this era. Ancient civilizations like Mesopotamia and Egypt were foundational in this evolution. They devised production methods and tools that laid the groundwork for a more sophisticated economic system.
Step 3: The Birth of Coinage
Coinage, as we know it today, originated in the kingdom of Lydia and Ionia in Asia Minor around the seventh century B.C. The coins were designed with a standardized weight, allowing for easy counting and ensuring their value. This innovation vastly improved trade efficiency, moving beyond the cumbersome weighing of commodities to determine worth.