{"id":1600,"date":"2016-06-02T00:00:00","date_gmt":"2016-06-02T00:00:00","guid":{"rendered":"https:\/\/qa.simplifimoney.com\/blog\/find-penny-save-million\/"},"modified":"2022-08-08T16:56:36","modified_gmt":"2022-08-08T16:56:36","slug":"find-penny-save-million","status":"publish","type":"post","link":"https:\/\/www.quicken.com\/blog\/find-penny-save-million\/","title":{"rendered":"Find a Penny, Save a Million"},"content":{"rendered":"

This following is a guest post by Bob Bobala, personal finance guru and former Motley Fool editor-in-chief.<\/em><\/p>\n

In a sign of the times, educators in Florida are trying to collect 2.6 million pennies \u2013 one for each student in the state \u2013 to make a point about the plight of education on the steps of the Florida state Capitol. The plan has had some kinks, namely, the heft of 2.6 million pennies \u2013 about 15,000 pounds. Oh, and also, the \u201clint and household goo\u201d that comes along with that many pennies being out of circulation for that long.<\/p>\n

I\u2019m getting grossed out just thinking about it. But it\u2019s also made think about the value of the penny and saving in general. I recall super investor Warren Buffett offering his perspective on saving and frugalness once. He said if finds a penny, he still picks it up.
\nThat sounds downright folksy and goes right along with Buffett\u2019s personality, if you know anything about him. But, of course, the idea of a nearly-eighty-year-old billionaire picking up loose change on the sidewalk sounds completely ludicrous.<\/p>\n

Or is it? Because in the end, saving money is really about attitude. It starts with that first penny, or that first dollar, and with confidence that you can add to it and make it grow a little more each month and each year. Heck, start with $100 today. Add $100 every month for 50 years at 8% interest (actually a little below-average return for stocks if you don\u2019t count the current mess we\u2019re in) and you end up with a stash of nearly $800,000. Parents, take notes for your kids and teach them budgeting<\/a> and how to save money!<\/p>\n

That\u2019s a lot of pennies. And it starts with picking one up and putting it in your pocket, saving it, and making the commitment to keep doing it year after year. You don\u2019t need a lot of money, you just need perseverance. Think about that the next time you drop some loose change in the \u201cgive a penny-take a penny\u201d cup at 7-Eleven.<\/p>\n","protected":false},"excerpt":{"rendered":"

This following is a guest post by Bob Bobala, personal finance guru and former Motley Fool editor-in-chief. In a sign of the times, educators in Florida are trying to collect 2.6 million pennies \u2013 one for each student in the state \u2013 to make a…<\/p>\n","protected":false},"author":17,"featured_media":1601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"Find a Penny, Save a Million | Quicken","_seopress_titles_desc":"In a sign of the times, educators in Florida are trying to collect 2.6 million pennies \u2013 one for each student in the state \u2013 to make a point about the plight of education on the steps of the Florida state Capitol.","_seopress_robots_index":"","inline_featured_image":false,"footnotes":""},"categories":[108],"tags":[],"class_list":["post-1600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budgeting-savings"],"acf":[],"jetpack_featured_media_url":"https:\/\/www.quicken.com\/blog\/wp-content\/uploads\/2022\/08\/picture-of-pennies.jpg","_links":{"self":[{"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/posts\/1600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/comments?post=1600"}],"version-history":[{"count":1,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/posts\/1600\/revisions"}],"predecessor-version":[{"id":2672,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/posts\/1600\/revisions\/2672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/media\/1601"}],"wp:attachment":[{"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/media?parent=1600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/categories?post=1600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.quicken.com\/blog\/wp-json\/wp\/v2\/tags?post=1600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}