Actually I think the men need women than women need men. Because men can earn more money to attract more women, but women won't do this way. Women spend most of their money on their beauty while men spend most of their money on women. Interesting!
"A penny saved is two pence dear. A pin a day is a groat a year. Save and have." - Benjamin Franklin
The origin of the quote in question might be more correctly translated into - A penny saved is a penny earned. A small amount each day grows to a larger amount over time. Save and have.
Ben was teaching people about personal finance in his version of a blog called Poor Richards Almanac.
When you do the math it is clear that it is easier and less work to save a penny than to earn a penny.
Ideas such as these are the basis for Lean Management and a new approach to personal finance. If you would like to learn more, click on my name above and look for the post titled: How much is your time worth.
I used to love baby carrots and always had a supply in the fridge. Recently they have less and less flavor. So this time at the grocery store I bought "regular" carrots. Still no flavor. Is there some kind of a carrot crop curse? Honestly I haven't tasted a good carrot in ages.
A penny (or any small amount of money) saved is a penny earned under three conditions.
#1. If the time spent saving the penny is not worth more than the penny &
#2. If you are disciplined enough to SAVE that penny and invest it over time!
#3. If the penny saved is ACTUALLY A PENNY SAVED! Saving money on something you DON'T need or saving money on an inflated price (stores love to get you on this one) doesn't count.
Number 2 is where most people fail. They save and re-spend.
One day Warren was riding in the elevator at his office in Omaha. A few other people got on the elevator as well. In the middle of the floor was a shinny penny. Everyone had a chance to pick it up, but nobody did. Finally after a few seconds Warren reaches down and picks it up. He looked at it for a moment then slipped the penny into his pocket.
Rumor has it, he said "the start of my next billion" as he put the penny in his pocket.
I don't know if the story's true or not, but it sounds like something he would do. We all have dreams of turning pennies into millions (or billions in Warren's case). Some people have a knack for making money out of almost anything."
I believe this was featured in the book "The Making of an American Capitalist".
sure! why not? As long as it isn't lying in the path of an oncoming vehicle! I pick up pennies or any other denomination (alas, I only seem to come across pennies). I know I'm not going to get rich doing so, but it's still $
We're retiring in 5 yrs and need to get a place for our dotage. We only have 6% down (condo is 250K, and we have plenty in our retirement accts, but the company won't let us access that till we actually retire).
We're stymied by the fact that we have to call this a second home since we are going to keep working till retirement in one town but the place we want is in another town 300 miles away.
That means we have to come up with 20% down, we don't get to use VA or FHA or tax credits for first timers, even tho we are VA firsters...
The prices are really down right now in So Cal, but there doesn't seem to be a lot avail in the area we want. Dilemma - beg borrow or steal the remaining 4%, or wait till next year and hope the prices don't leave us in the dust (remember, this is So Cal)
I do pick up pennies and I do think the latte thing could produce results, but if you skipping a monthly coffee "treat" or some such thing just to save a few dollars I think that is going too far. You need to pay down debt, but also enjoy life while you're here.
I've heard all my life that my (frugal) grandfather often told my (spendthrift) grandmother that she could "throw more money out of the kitchen window with a tablespoon than he could throw in through the front door with a seed shovel."
For some reason, that has stuck with me. It has been my experience that if I watch the pennies, nickels and dimes, the dollars tend to take care of themself.
Absolutely! I've paid for lunches with pennies before which feels like a free lunch. I'm not opposed to saving the little things or the bigger things. If I can save anything on anything, then I'm game.
That said, saving is a very individual thing that only works when you do what you can and what is suited to your personality. Some people would rather spend the money for a daily latte or whatever and cut back elsewhere. Some like big ticket items and would rather eat ramen a few times a week to afford them. You just have to come up with the right balance for YOU. And I do pick up every penny (or larger!) that I find on the ground. Last year I found over $250!
A penny saved can be a penny earned, but it depends on the penny. I don't think one should avoid spending money to the point that it robs one of good quality of life. But one also shouldn't spend every penny to the point of financial desperation.
I believe in the latte factor, but I even sometimes splurge on a latte, just not everyday. I try to save better and spend smarter.
I do believe in the Latte Factor. I think a lot of people, myself included, end up wondering at the end of the month "where did all my money go!?" When you've spent all your money and feel as though you have nothing to show for it (like a new piece of furniture or a house or something), it's probably because you nickel and dimed yourself on things like coffee, a Coke while you're waiting for your car to fill at the gas station, a magazine while you're waiting for your train, etc. These $1 add up surprisingly quickly. And while it doesn't necessarily make or break a person, it is part of the larger scheme of how people think about their money and their spending. People who see a measly penny as IMPORTANT and SIGNIFICANT, those are likely the people who aren't having to borrow money from friends and family at the end of the month.
I save all my pennies, it adds up! It may take awhile but that's part of the game. I think saving is best. overspending is what got this country in the mess it's in.
(Oops. I forgot that I cleared my cookies recently.)
If I see silver or green on the ground, then I'll bend over to pick it up, but not copper any more. Inflation doesn't make that one worth my time (and germs) any more.
As far as saving goes, I absolutely agree that saving money is as good as earning money.
I'm amazed by people who will turn their noses up at using coupons, yet they would love to get a 5-10% pay raise from their jobs. Ha! With a little planning and paying attention, I DO get the "raise".
If I see silver or green on the ground, then I'll bend over to pick it up, but not copper any more. Inflation doesn't make that one worth my time (and germs) any more.
As far as saving goes, I absolutely agree that saving money is as good as earning money.
I'm amazed by people who will turn their noses up at using coupons, yet they would love to get a 5-10% pay raise from their jobs. Ha! With a little planning and paying attention, I DO get the raise.
I walk and run alot and I live near a High School and Grade school. I find lots of change on a weekly basis. We keep a change charge and place all of our found money and change from using cash in it, at the end of the day. It adds up slowly but surely. I also keep a jar near my washer and dryer...if I "find" money in pockets or the machine...it is mine :)
I always pick up pennies I see laying around. I have a piggy bank still, and I love putting coins I've found during the day in it, although I still don't know where I can go to get it deposited.
i do all of it, except drive across town to save on gas (i dont pay for gas anyway).
i pick up pennies.
i save on house purchases as much as humanly possible.
i save on utilities, clothing, flights, vacations, etc.
i am only truly satisfied when i know i got the best value for my dollar. cost is generally irrelevant, b/c if i decided to buy it, and got the best deal i could, i sleep fine with it.
Actually I think the men need women than women need men. Because men can earn more money to attract more women, but women won't do this way. Women spend most of their money on their beauty while men spend most of their money on women. Interesting!
G
Member of Amazon Coupons.
Thanks, Linsey, for featuring my post in your roundup. The resultant conversation has been interesting!
"A penny saved is two pence dear. A pin a day is a groat a year. Save and have." - Benjamin Franklin
The origin of the quote in question might be more correctly translated into - A penny saved is a penny earned. A small amount each day grows to a larger amount over time. Save and have.
Ben was teaching people about personal finance in his version of a blog called Poor Richards Almanac.
When you do the math it is clear that it is easier and less work to save a penny than to earn a penny.
Ideas such as these are the basis for Lean Management and a new approach to personal finance. If you would like to learn more, click on my name above and look for the post titled: How much is your time worth.
I used to love baby carrots and always had a supply in the fridge. Recently they have less and less flavor. So this time at the grocery store I bought "regular" carrots. Still no flavor. Is there some kind of a carrot crop curse? Honestly I haven't tasted a good carrot in ages.
A penny (or any small amount of money) saved is a penny earned under three conditions.
#1. If the time spent saving the penny is not worth more than the penny &
#2. If you are disciplined enough to SAVE that penny and invest it over time!
#3. If the penny saved is ACTUALLY A PENNY SAVED! Saving money on something you DON'T need or saving money on an inflated price (stores love to get you on this one) doesn't count.
Number 2 is where most people fail. They save and re-spend.
One day Warren was riding in the elevator at his office in Omaha. A few other people got on the elevator as well. In the middle of the floor was a shinny penny. Everyone had a chance to pick it up, but nobody did. Finally after a few seconds Warren reaches down and picks it up. He looked at it for a moment then slipped the penny into his pocket.
Rumor has it, he said "the start of my next billion" as he put the penny in his pocket.
I don't know if the story's true or not, but it sounds like something he would do. We all have dreams of turning pennies into millions (or billions in Warren's case). Some people have a knack for making money out of almost anything."
I believe this was featured in the book "The Making of an American Capitalist".
sure! why not? As long as it isn't lying in the path of an oncoming vehicle! I pick up pennies or any other denomination (alas, I only seem to come across pennies). I know I'm not going to get rich doing so, but it's still $
I definitely pick up pennies. It's more money than what I had previously, after all.
We're retiring in 5 yrs and need to get a place for our dotage. We only have 6% down (condo is 250K, and we have plenty in our retirement accts, but the company won't let us access that till we actually retire).
We're stymied by the fact that we have to call this a second home since we are going to keep working till retirement in one town but the place we want is in another town 300 miles away.
That means we have to come up with 20% down, we don't get to use VA or FHA or tax credits for first timers, even tho we are VA firsters...
The prices are really down right now in So Cal, but there doesn't seem to be a lot avail in the area we want. Dilemma - beg borrow or steal the remaining 4%, or wait till next year and hope the prices don't leave us in the dust (remember, this is So Cal)
I do pick up pennies and I do think the latte thing could produce results, but if you skipping a monthly coffee "treat" or some such thing just to save a few dollars I think that is going too far. You need to pay down debt, but also enjoy life while you're here.
I definitely save money wherever possible...and yup, I pick up pennies whenever I see them!
I've heard all my life that my (frugal) grandfather often told my (spendthrift) grandmother that she could "throw more money out of the kitchen window with a tablespoon than he could throw in through the front door with a seed shovel."
For some reason, that has stuck with me. It has been my experience that if I watch the pennies, nickels and dimes, the dollars tend to take care of themself.
Absolutely! I've paid for lunches with pennies before which feels like a free lunch. I'm not opposed to saving the little things or the bigger things. If I can save anything on anything, then I'm game.
I like the photo idea, you could get creative with this.
@Jerry great idea too!
That said, saving is a very individual thing that only works when you do what you can and what is suited to your personality. Some people would rather spend the money for a daily latte or whatever and cut back elsewhere. Some like big ticket items and would rather eat ramen a few times a week to afford them. You just have to come up with the right balance for YOU. And I do pick up every penny (or larger!) that I find on the ground. Last year I found over $250!
A penny saved can be a penny earned, but it depends on the penny. I don't think one should avoid spending money to the point that it robs one of good quality of life. But one also shouldn't spend every penny to the point of financial desperation.
I believe in the latte factor, but I even sometimes splurge on a latte, just not everyday. I try to save better and spend smarter.
I do believe in the Latte Factor. I think a lot of people, myself included, end up wondering at the end of the month "where did all my money go!?" When you've spent all your money and feel as though you have nothing to show for it (like a new piece of furniture or a house or something), it's probably because you nickel and dimed yourself on things like coffee, a Coke while you're waiting for your car to fill at the gas station, a magazine while you're waiting for your train, etc. These $1 add up surprisingly quickly. And while it doesn't necessarily make or break a person, it is part of the larger scheme of how people think about their money and their spending. People who see a measly penny as IMPORTANT and SIGNIFICANT, those are likely the people who aren't having to borrow money from friends and family at the end of the month.
I save all my pennies, it adds up! It may take awhile but that's part of the game. I think saving is best. overspending is what got this country in the mess it's in.
(Oops. I forgot that I cleared my cookies recently.)
If I see silver or green on the ground, then I'll bend over to pick it up, but not copper any more. Inflation doesn't make that one worth my time (and germs) any more.
As far as saving goes, I absolutely agree that saving money is as good as earning money.
I'm amazed by people who will turn their noses up at using coupons, yet they would love to get a 5-10% pay raise from their jobs. Ha! With a little planning and paying attention, I DO get the "raise".
If I see silver or green on the ground, then I'll bend over to pick it up, but not copper any more. Inflation doesn't make that one worth my time (and germs) any more.
As far as saving goes, I absolutely agree that saving money is as good as earning money.
I'm amazed by people who will turn their noses up at using coupons, yet they would love to get a 5-10% pay raise from their jobs. Ha! With a little planning and paying attention, I DO get the raise.
I always pick up pennies! I think everything adds up and definitely consider small purchases important.
I walk and run alot and I live near a High School and Grade school. I find lots of change on a weekly basis. We keep a change charge and place all of our found money and change from using cash in it, at the end of the day. It adds up slowly but surely. I also keep a jar near my washer and dryer...if I "find" money in pockets or the machine...it is mine :)
Thanks for these blogs, I'll definately check some of them out.
I always pick up pennies I see laying around. I have a piggy bank still, and I love putting coins I've found during the day in it, although I still don't know where I can go to get it deposited.
i do all of it, except drive across town to save on gas (i dont pay for gas anyway).
i pick up pennies.
i save on house purchases as much as humanly possible.
i save on utilities, clothing, flights, vacations, etc.
i am only truly satisfied when i know i got the best value for my dollar. cost is generally irrelevant, b/c if i decided to buy it, and got the best deal i could, i sleep fine with it.