macq
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Post by macq on Dec 29, 2017 8:55:57 GMT
Just seen this on MSE forums and looked it up on the web and it seems like a fun way to save £668.Everyday you pay yourself starting with 1 penny on the first day then 2 pennies on the second day till you get to 365 pennies on the last day or one more in leap years.(And for younger members a penny is 1p  ) |
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pom
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Post by pom on Dec 29, 2017 10:01:31 GMT
At risk of sounding all Bah Humbug...
Do ideas like this - and change jars etc - actually really mean anything these days when we use so little real cash anyway?
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Post by stevepn on Dec 29, 2017 11:22:41 GMT
I disagree. Remember the Tesco adverts "every little helps".
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macq
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Post by macq on Dec 29, 2017 11:45:35 GMT
At risk of sounding all Bah Humbug... Do ideas like this - and change jars etc - actually really mean anything these days when we use so little real cash anyway? think your to late for Bah Humbug but not sure what the new year version is Don't think its out of date many people still do the change jar and then use in the coin machine in supermarkets or you even have the apps that add a penny to every purchase or round up the odd change,its just away of saving without trying. It was in an answer about compounding and mentioned the old saying of a penny every day doubled is better then a million in a month but you would need a bigger jar for that!
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gibmike
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What is a cynic? A man who knows the price of everything and the value of nothing.
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Post by gibmike on Dec 29, 2017 11:52:04 GMT
We did the £1 a week challenge this year: Week 1 - £1 Week 2 - £2 ... Week 10 - £10 We stopped in November having saved over £1,000 for Christmas. It does work and we didn't notice it at all. Edit: I linked it but the link isn't working. Mike |
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 29, 2017 20:14:57 GMT
Going to be a lot of people crossing their legs to avoid spending that penny  |
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macq
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Post by macq on Dec 29, 2017 21:31:49 GMT
Going to be a lot of people crossing their legs to avoid spending that penny no spending till Jan 2019 
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macq
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Post by macq on Dec 29, 2017 21:32:59 GMT
We did the £1 a week challenge this year: Week 1 - £1 Week 2 - £2 ... Week 10 - £10 We stopped in November having saved over £1,000 for Christmas. It does work and we didn't notice it at all. Edit: I linked it but the link isn't working. Mike that's pretty good will power
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gibmike
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Post by gibmike on Dec 29, 2017 23:01:03 GMT
It was getting pretty expensive towards the end, it might be better to do it in reverse order and start with £52 working down as we bought presents in November.
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macq
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Post by macq on Dec 29, 2017 23:55:46 GMT
It was getting pretty expensive towards the end, it might be better to do it in reverse order and start with £52 working down as we bought presents in November. have seen the 1p to 365p done as a chart that looks a bit like a bingo card where you can cross off any number you like per day till there are none left - so you could perhaps try that weekly. Having spoken to someone today i am now reading up on the "rule of 72" on how fast you double your money as a rule of thumb.Which i had not heard of before but is almost never with a BS/Bank account unless you start as a baby but more chance with P2P or shares hopefully
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IFISAcava
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Post by IFISAcava on Dec 30, 2017 2:31:10 GMT
We did the £1 a week challenge this year: Week 1 - £1 Week 2 - £2 ... Week 10 - £10 We stopped in November having saved over £1,000 for Christmas. It does work and we didn't notice it at all. Edit: I linked it but the link isn't working. Mike that's pretty good will power Would have had ~30% more if you'd kept going for the full 52 weeks...
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Post by skint4achange on Dec 30, 2017 11:25:02 GMT
I remember an old story (Not sure if it was a fable or a true story!) but it involved a chess champion in the far east who beat a powerful Emperor at chess. The Emperor asked the champion what he would like as a prize fro his great achievement.
The champion asked for 2 grains of rice to be placed on the first square of the chess board and then each following square to be filled with the grains of rice equal to the square of the number of grains of rice in the preceding square.
The Emperor was taken back at such a request and asked if the champion was sure that he only wanted such a small prize when he could have had gold or something more precious. The champion said that he was happy with the rice prize.
When the prize was paid, the champion was one of the richest men in the land and his family never went hungry again.
Just a nice story of how from little acorns, mighty oak trees grow!
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macq
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Post by macq on Dec 30, 2017 13:38:13 GMT
I remember an old story (Not sure if it was a fable or a true story!) but it involved a chess champion in the far east who beat a powerful Emperor at chess. The Emperor asked the champion what he would like as a prize fro his great achievement.
The champion asked for 2 grains of rice to be placed on the first square of the chess board and then each following square to be filled with the grains of rice equal to the square of the number of grains of rice in the preceding square.
The Emperor was taken back at such a request and asked if the champion was sure that he only wanted such a small prize when he could have had gold or something more precious. The champion said that he was happy with the rice prize.
When the prize was paid, the champion was one of the richest men in the land and his family never went hungry again.
Just a nice story of how from little acorns, mighty oak trees grow! Think the Western version is you win the lottery(you can make it a fable with a genie & a lamp  ) and are offered 1 million up front or a penny doubled every day for a month.The wrong answer can lose you about 4 or 9 million depending on how many days in the month
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toffeeboy
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Post by toffeeboy on Jan 3, 2018 13:10:00 GMT
I remember an old story (Not sure if it was a fable or a true story!) but it involved a chess champion in the far east who beat a powerful Emperor at chess. The Emperor asked the champion what he would like as a prize fro his great achievement.
The champion asked for 2 grains of rice to be placed on the first square of the chess board and then each following square to be filled with the grains of rice equal to the square of the number of grains of rice in the preceding square.
The Emperor was taken back at such a request and asked if the champion was sure that he only wanted such a small prize when he could have had gold or something more precious. The champion said that he was happy with the rice prize.
When the prize was paid, the champion was one of the richest men in the land and his family never went hungry again.
Just a nice story of how from little acorns, mighty oak trees grow! I heard a similar story but it was just double the previous square not the square of it. Starting from 1 on the first square you still hit a million by the 21st and the last square is 9,223,372,036,854,780,000.
god knows how high it would get squaring the number
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Post by skint4achange on Jan 3, 2018 18:25:38 GMT
I heard a similar story but it was just double the previous square not the square of it. Starting from 1 on the first square you still hit a million by the 21st and the last square is 9,223,372,036,854,780,000.
god knows how high it would get squaring the number
I think it is a good job that it is a fable.........................Could you imagine having to eat all that rice??
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)
) and are offered 1 million up front or a penny doubled every day for a month.The wrong answer can lose you about 4 or 9 million depending on how many days in the month