Cost of a Penny Rising?
How Much Does it Cost to Make a Penny?
Help! We've Outgrown The Pennyby Cheryl Johnson What is the cost of a penny? The true value of a penny is going up so that it is now costing the government more to make a penny than the penny is worth. According to a recent New York Times article, "the government will lose nearly half a cent on each new one [penny] it mints."
Rumor has it that the cost of a penny has increased so that they are considering eliminating the penny altogether. Well, old Ben Franklin would be in a pickle today. No pennies to save? You know, "A penny saved is a penny earned." Sorry Mr. Franklin, it seems we've outgrown that theory. The cost of a penny is now more than a penny and it appears the saying will now be, "A penny saved is more than a penny spent!"
Just goes to show you how our economy has changed and how complicated finances have become. Good or bad, it looks like there's no turning back now. But that doesn't mean that you can't live a simpler existence, if that's what you want. Getting back to basics, and simplifying, can be a refreshing change. It's not depriving yourself, as many would think. The simple life is a less stressful life to be sure. Less of all the things that tend to make life stressful... Less worries, less clutter, less debt. And, more of the things that make life peaceful and good... more money, more independence, more security, more family time, more space.Sounds like a fantasy, doesn't it? Doesn't sound like deprivation to me. Commit to live debt free and you can live this more peaceful, less stressful, life. All of this is a wonderful consequence of debt free living. Hard to believe, huh? I know what you're thinking. You think you'll have to struggle financially and deprive yourself of all the newest electronic gadgets, games, and novelties. You won't have all the luxuries that the Joneses have. Your friends and neighbors will look down on you and say "he's poor."
Well, guess who gets the last laugh? You will, when you are debt free. While your neighbor is up nights worrying about debt payments and bills, you'll be fast asleep. Debt free living gives you the ability to use your money for productive financial gains, not debt and interest repayment.
Would you rather save for that new TV and actually own it when you make the purchase, or make payments on it for 2 or 3 years? You'll end up wasting a great deal of your hard earned money on interest and you don't really "own" it. All you "own" is another debt payment. And, it will worry you until it's paid!
Debt free living will actually provide you with the means to have all the luxuries you want (yet you actually "own" them). You'll owe no man, and still have everything the Joneses have (if you still want what the Joneses have that is). Somehow, simplifying seems to change how we feel about "ownership" and material things. It could happen to you, too. Live debt free to be free! You won't regret it. Most of all, you certainly won't feel deprived! Oh, and don't worry about the cost of a penny. I'm sure they'll think of some way to fix it.
Teach your kids about money, give them a head start at understanding money. Visit the United States Mint Site for Kids for games, facts, and news about money. They'll learn more than just the cost of a penny here!
Read the New York Times Article A Penny For Your Thoughts, and 1.4 Cents for the Penny to learn more about the cost of a penny. The Cost of A Penny Home | Site Map | Household Budgeting | Money Saving Tips Directory
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