Ask the Readers: Is a Penny Saved Really a Penny Earned?
********The winners of the $10 Amazon Gift Card are:
"I think there are a lot of factors that complicate the equation. Sometimes saving a penny "costs" you more than earning a penny: for example, if you spend an hour searching the internet to save $10 on piece of electronic gadgetry, you could have very likely theoretically done something in that time to earn more than $10. But in other ways, earning a penny to spend on something "costs" more than saving a penny by not spending that money: comparing working an extra hour to pay for some unnecessary piece of future landfill-fodder versus reining in consumption and just not buying it.
Ideally, you should enjoy earning the pennies you earn (find a way to get paid to do thinks you enjoy) and enjoy saving the pennies you save (focus on the savings opportunities that bring you more than just monetary benefits)."
- Tweet from @Krutan - "Saving is a mindset. If you start small w/ picking up change & skipping lattes, it will change ur habits enough to matter"
You hear it all the time: A penny found here, is one you don't have to earn somewhere else. But with all the talks of skipping lattes to create huge financial gains down the road, there are skeptics who argue that all this penny-pinching is having a minimal effect on our long-term savings—and a burdensome effect on our time and stress levels.
What is your opinion? Do you pick up pennies where they fall? Do you believe in the Latte Factor? Would you rather save money with single, large actions (like a house or a car)? Or do you fall somewhere in between?
Share your thought here in our comment thread, and you'll be entered to win one of two $10 Amazon giveaways. That's a significant amount for many (each equivalent to bending over and scooping up one thousand grimy pennies from the street.) For others, it's just a drop in the bucket—but you can also pass it on to charity, if you feel so inclined!
Win a $10 Amazon Gift Certificate
We're doing two giveaways -- one for random comments, and another one for a random tweets.
How to Enter:
- Post your answer in the comments below, or
- Tweet your answer. Include both "@wisebread" and "#WBAsk" in your tweet so we'll see it and count it.
If you're inspired to write a whole blog post, please link to it in the comments or tweet it.
At the end of the drawing, we'll update this post to include (and link to) all of your helpful responses.
- Contest ends Thursday, September 17th at 11:59 am CST. Winners will be announced after September 17th on the original post and via Twitter. Winners will also be contacted via email and Twitter Direct Message.
- You can enter both drawings -- once by leaving a comment and once by tweeting.
- Only tweets that contain both "@wisebread" and "#WBAsk" will be entered. (Otherwise, we won't see it.)