Penny a Day

I make it a goal to pick up a penny every day. Living in New York, this is surprisingly easy. People drop change all of the time but few seem to bother to pick it up. Most wouldn’t think twice before bending over to pick up a dollar bill – but coins just aren’t worth it.

But think about it this way: if it takes you 1 second to pick up a coin off of the ground then theoretically every hour you’ll have $36. While it is unlikely for you to have that kind of streak, it’s also unlikely that you would exclusively pick up pennies. Find only dimes and you’d be pocketing $360 an hour. On top of that all of this money is tax-free.

In a typical year, I’ll end up with over $75 in found money. I’m not going out of my way to find this cash, it’s simply what I come across on my daily commute. Given the minimal work required that’s a pretty significant return. Each year, I’ll pool the money and donate it to a good cause. An extra couple of bucks certainly isn’t life changing money but it certainly can’t hurt. Give it a try -- whether you donate, invest, or spend your found treasure, see if it influences your life in a positive way!

For me, Penny a Day is not really about making money. It is daily reminder of a crucial ideal in my personal finance strategy: there is free money to be had – sometimes you just have to bend down to pick it up.