The Spare Change Challenge

Many individuals who know me know that I’ll run in front of oncoming traffic to pick up a penny (or anything shiny for that matter). While some may think that this is a waste of time and that “it’s only a penny”, the fact is that the small change adds up. Whenever I get weird looks or folks laugh at the mention of a penny to be grasped, I always ask, “Would you walk past a $100 bill?” The point being, it all adds up. The tiniest snowflakes create earth-moving avalanches.

The small amounts I pick up are usually deposited into my kids’ piggy banks. When we’re together and we find money they call the change “lucky coins”. The interesting thing is that these lucky coins have gotten pretty heavy in their banks. Both of my kids can barely lift their piggy banks due to all of the luck we’ve come across. What I’ve never really done, it add it all up – at least over a specific period.

So here’s what I’d like to propose. And it’s something I’m going to do myself for the next year. Every coin I find and my kids find we’re going to keep track of and see what it adds up to over one year. This includes anything from pennies, to the occasional quarter to the rare dollar bill. I’m curious to see what it will all add up to over a year, and how that amount would grow over time at a compounded rate.

There’s a saying that there is no free lunch; this comes pretty close – free money. Should you decide to play along, drop us a note and tell us how you’re doing and how much you’ve acquired along the way. I’ll do the same. Keep an eye out…

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jim@blankenshipfinancial.com (Jim Blankenship)

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