Want to Save Money? Start with a Penny.

Believe in the power of one cent.

The pandemic has had a terrible impact on the economy. Businesses closed. Employers laid off their employees. The unemployment rolls swelled between March 2020 and March 2021. The government provided stimulus money in the Spring of 2020 and the Spring of 2021. In addition, unemployment benefits were increased to help the unemployed.

In my household, we only had one working adult. In the past year, when wanted to save money, I began placing my coins in a travel fund. I started in November of 2020. My container was a piggy bank in the shape of the Eiffel Tower. Every day I would place pennies into the bank. Every penny I had or found went into that bank. I did that for about a month.

The next month, I continued to add pennies but included nickels. The bank slowly began to fill. It was exciting to see the progress. By the third month, I had pennies, nickels, and dimes in the bank. The top of the bank was getting closer and closer each day. My goal was to cash in my coins once they had reached the top of the Eiffel Tower.

The act of saving coins taught me money management skills. Instead of using the coins for frivolous things, the coins now had a purpose. Once the bak was full, I planned to turn the coins into cash. My goal was to use the cash for my birthday. The target month was June.

By June 2021, I had accomplished my savings goal. The bank was full, The coins had reached the top of the Eiffel Tower. The bank was bulging with coins. It was heavy, weighing at least five pounds. When I cashed in the coins, I had saved $100 dollars. I treated myself to some new sneakers.

When you want to save, the lesson is to start small. If money is tight, begin with a penny. When you have spare change, through it into a piggy bank or jar. Have a goal in mind for the money. Set a target date to reach the goal. Try to throw change into the piggy bank every day. If you miss a day, double the change. I did that several times. If you’re consistent, you will see progress and cash very quickly.