If you don’t think pennies are worth anything, then think again. My son’s school just had a penny war challenge for a fundraiser and they were able to raise over $1000 by collecting pennies from elementary-aged kids. Furthermore, in this 52-Week Money Challenge using pennies, you can come close to that amount by saving pennies yourself. In fact, at the end of the 52-week money challenge, you will total out at $667.95. – Not bad for saving your spare change.
This money challenge is unique in that you can save your spare change and end your year with a nice chunk of change. However, toward the end of the challenge when you start adding $20 to your fund, you may want to switch to dollars or start cutting out some of the “want” areas of your budget to help you stick with it.
If you have heard the phrase “A penny saved is a penny earned” then you know money is money. No matter how small it is worth something. The truth is pennies can add up over time! Not to mention, the bank agrees with me and will accept penny deposits. However, most banks do not accept loose change unless you roll the coins yourself. But hey, if you start saving your pennies now, by the end of the year you will have over $600 in your savings account.
Alexander Pope’s famous quote “To err is human” holds true for our many species driven mistakes. However, when we make a money mistake it seems to sting and leave us feeling shame and remorse.
Although money mistakes are as common as the wind blowing the snow, many money mistakes have easy fixes that will keep your money from blowing away from your bank account and wallet. As the snow settles, your financial situation can also settle. In fact, a key piece of our financial happiness is security.
Nonetheless, I’ve made a few money mistakes myself; however, with some careful planning, I was able to bring my finances back into check and you can too!
It always worries me when I see people spending money they do not have. What’s worse is having no budget at all and not taking the time to plan. In the realm of financial health, planning is key.
Many people spend money in different ways. Some only spend a little, yet others (over half of Americans) spend freely with little concern about debt.
I would like to think I’m somewhere in the middle. I don’t carry credit card debt and have over six months of an emergency fund, but I do believe in the old Greek saying that translates to everything in moderation, even saving money.
Obviously, you can’t save everything you make, or you wouldn’t be able to pay your bills. But saving money often becomes a problem, especially if you are in debt.
Yes, saving money is difficult. Yet, you will find once you start training yourself to save, you will learn to like it and keep your money by creating separate sinking funds for everything.
It will feel great when Christmas rolls around and you have money for gifts this year!
So when I was a kid, I used to swim every day. I would swim for fun! I would swim for exercise and because I grew up by a lake, I thought this made me an excellent swimmer. Daily walks to the lake entailed swimming laps and laying out in the sun. This was a way of life when you grew up a few blocks from the water. Winter was your enemy and summer your best friend.
Yet, that day in the five-foot hotel pool told a story of a different swimmer. Not the story of a swimmer that could swim laps around Michael Phelps, but of a vulnerable kid that could not get a grip. That was the day my brother started drowning. Yet, being the great swimmer that I am, I knew I could save him.
I saw it so differently in my head. I envisioned diving in, grabbing him, and pulling him to the edge. It was all so clear and I would be a hero!
However, I didn’t take into account, when the water is over your head and the other person is panicking – by the way, I’m not a lifeguard – saving them is near to impossible.
As I swam up to my brother bobbing up and down grabbing for any inch of air to fill his water-logged lungs, he grabbed me and started taking me down with him. I – the great swimmer from Michigan – started to panic myself.