True or false? "A penny saved is a penny earned."

[Guaranteed]

Give reasons for your answer.

What about "Waste not, want not"? Compare and contrast.

[catmandu57]

1. I like Andrew Carnigies

Take care of the pennies and the dollars will take care of themself better, simply put turn out lights you don't need, don't make needless trips if you can do it in one, do it.

[anarch]

2. only after a certain amount of time, based on annual interest paid

A penny saved in an account that pays 3% interest (compounded each year) will be a penny earned after about 25 years, I think. Yay, 2 cents.

For the second one, not necessarily. Even if you don't waste something that is in extremely short supply, you will still end up wanting.

[Guaranteed]

4. Yes, but if you save a penny by putting in some extra work,

haven't you given yourself a "job" of sorts, and thus earned said penny?

[dolo amber]

3. You have to earn a penny before you can save it, no?

Unless you're into like rolling old ladies or something. :shrug:

[Blue Gardener]

5. Plenty of them just laying around

I wonder how many you could collect in a year if you picked up every one you saw laying on the ground? Then I guess it would be work picking them up.

[mikeytherat]

6. "See a penny, pick it up. All day long, you'll have a...penny."

mikey_the_rat

[johnnie]

9. Find a penny pick it up..

Throw it away, it ain't worth a fuck

Johnnie

[NewWaveChick1981]

7. A penny saved is a penny not spent.

Depends on whether you worked for it as to whether it's "earned". :P

[redqueen]

8. No.

You already earned it, right? So what are we sayin' here, that you earn it again when you don't spend it? That makes no sense!

[pitohui]

10. false -- inflation

w. prices of food, gas, and medicine soaring thru the roof better to buy it now than save because the price is only going up

[GoddessOfGuinness]

11. Ah, but the copper in the penny

is worth more than 1 cent.

[brentspeak]

12. An apple a day makes a man healthy, wealthy, and wise

while going early to bed keeps the doctor away...

[Jamastiene]

13. True.

Many people take the lowly penny for granted. "It's not worth much," they will say, but if you collect 100 of them, you have a dollar, 1000 gets you ten bucks. Once you can start calling your money "bucks," you can either choose to spend it or save it with a little more confidence.

Saving money is much harder than spending it. How much trouble is it to bend over and put a box of cereal back for another kind of cereal that costs just a penny less? If you like both cereals pretty much equally, why not make the effort and save the penny?

If you still think a penny isn't worth the time and effort to think about, try this:

Set up an ordinary chess board without the pieces.
On the first day, place a penny on the first square closest to one corner. It doesn't matter which corner.
On the second day, place 2 pennies on the square next to that square.
On the third day, double the 2 pennies and place 4 pennies on the third square.
On the fourth day, place 8 pennies on the fourth square.
Continue to double the number of pennies for every day and every square until you have filled that chessboard with pennies, following the same binary numbering system.
Count your pennies.

It sounds like it will be a bunch of worthless pennies to some people, unless you add them all together, once you fill up that chess board. If you do not want to count them, and still see them as not worth saving, I will happily take them off your hands. I would be more than willing to personally come get them if you decide to give them to me. I would be happy to count them and bank them and appreciate them. }(

[flvegan]

14. A penny saved, wisely invested can, in time, earn an additional penny.

But it takes time, especially with taxes and all.