The Value of a Penny

During childhood, mom bought lobsters about once a week. I pled that she would buy me a lobster shaped lollypop, but every time the same, “No! We don’t have enough money for a (lollypop).” True, lobsters cost more than lollypops, but she drove home a point, the value of a penny.

Often, she gave me $0.10 or $0.25 for penny candy. Some pieces cost a penny, some cost a nickel, etc. I learned important budgeting skills.

When I was about 6 or 7yrs old, my allowance was $1 a week. But, I would also go collect tin cans at construction sites, redeemable for $0.05. After a half a year of discipline, between my allowance and cans I saved up $20 and bought an electric train set.

Later, my family went through an extended period of having $40 each month. We weren’t paying our rent, but we never once had to go to a local food pantry for free stuff. $40 a month was plenty.

So, though learning the value of a penny wasn’t immediately important, 25yrs later it made a big difference.