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Project Pocket Change

February 20, 2008 Leave a comment Go to comments

I see a lot of pennies on the street, and usually pick them up. Hey, it’s free money right? Sometimes I luck out and pick up a nickel, dime, or even a quarter! I think most people overlook pennies lying in the street, or loose change in general, but I think all that loose change is a great source for savings. Even Bank of America thinks so, with their Keep the Change service.

Back when I was in Japan, I used to save 500 yen coins (~$5). Saving money like this is very popular in Japan, they call it go-hyaku-en chokin. Think about if you saved every five dollar bill that you received, it adds up real quick. After a little while, I had a nice chuck of dough, and used that savings to buy some cool electronics. After coming back to the US, I thought I’d try the same thing on a smaller scale, but with a twist. It’s been my pet project ever since.

What do you think would happen if each day you put all your pocket change in a jar? Eventually, you’d have a big jar of change… heck you probably have one sitting on your dresser right now. Well, what if you took that money and invested it in some sound stocks? If you chose correctly, you should end up with more money than you started with, like me.

Investing only my pocket change since 2003, I have been able to increase my investment by 38%. And while my pocket change has not turned into millions yet, and probably never will, it’s been nice to know that my otherwise useless pocket change has been put to work.

I’ll be writing more about this project, stay tuned.

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