The Frugal Retiree: Count Your Pennies…from Heaven
What is a frugal retiree to do without the one-cent penny? Well, thank goodness no one can call me a penny pincher. That moniker is reserved for my Scottish husband, who holds pennies so tightly that Lincoln winces. Penny candies, lucky pennies, and saving pennies have now been swept to the past.
We all understand the rationale for discontinuing pennies. It now costs more to mint them than their buying power. But are we ready for every purchase to be rounded up to the next nickel, dime, or even dollar? Marketing strategies have benefited from the $.99 sticker prices that make items seem less expensive. A blouse priced at $19.99 feels more like a steal than one marked $20.
From the price of cars to appliances and services, the .99 is transformational. It encourages consumers to make the purchase. The $499 price tag for a dishwasher is psychologically less than $500. Sold.
When I was three years old I stole a penny. I carried that guilt for a long time as well as a deep respect for the lowly one cent. This childhood experience was either the foundation of my frugality or a life of crime.
The little girl next door found a penny while we were playing and tossed it inside her doll carriage. When she wasn’t looking, I took it, ran to the corner store, and promptly bought a Bazooka Bubble gum. My heart racing, I returned to the scene of the crime chomping on that wad of juicy sweetness. The little girl immediately connected the dots and went home crying.
In the 1960s, an elderly neighbor would walk miles picking pennies off the sidewalk. Every day he would announce how many pennies he’d found and place them in a mason jar. He rolled them to cash in at the bank when they added up to a buck.
But wait. Remember the expression pennies from heaven? Of course, figurative pennies are blessings. Here’s a frugal thought: Each day write down one, two, or more blessings and drop it in a jar. You’ll be impressed on all the heavenly pennies saved each week that didn’t cost a cent.
Sunlight, clean air, clean water, plants and trees, songbirds, a good morning stretch upon awakening, prayer, the aroma of brewing coffee, a snowflake on your tongue, a free car wash from a rainstorm, dreams, star gazing, the sound of the ocean, rain beating on the roof, the wind, quiet. All free pennies!
Start your savings today.
Joan B. Reid
50plus Magazine
Joan B. Reid is the author of Joyful Passage: A Woman’s Path to Retirement.