Simple Solutions To Financial Freedom

Every Little Bit Helps – Saving Pennies Grow to Dollars

On Behalf of | Sep 28, 2018 | Savings |

Are you saving pennies? The origin of the idea that “every little bit helps” dates back to the 1500s with this phrase;

He can only give us one day, but every little bit helps.”

Non-profit companies seeking donations will say the same thing; every little bit helps. Donations as small as $5 are welcome because non-profit companies understand that small dollars grow into bigger ones.

When you lump together small amounts, before too long they become large bills.

Start Saving Today


You can start by accumulating your pennies. The Latina Next Door offers up the One Year Penny Challenge. Start by saving 28 cents in the first week – that is just FOUR CENTS A DAY. You can find that just by keeping an eye out for stray pennies on the street as you walk to the store.

Each week she recommends adding a little more to the pile until the final week you are saving $28.92 for the week (a little over $4 per day). The final amount saved? $667.95. This is a great example of the smallest amount growing into a significant total that would come in handy in a family emergency – need for new tires, unexpected school bill or home repair.

She also offers a chart to show how a dollar a day can grow. The point being that every little bit helps – you just have to get started.


Where to Save Money

If you examine your daily spending habits, there are bound to be places you can save money. For example, if you are a fan of fancy coffee – those $5 purchases can easily be replaced with coffee from home. Or you can wait until you get to the office; many companies offer free coffee in the breakroom. Saving $5 a day, five work days a week, adds up to $1305 in a year. (assuming you work 261 days in a year).

Consider your monthly nice-to-have bills like streaming services. If you are still paying for cable as well as Netflix, Amazon and Hulu, you might consider downsizing your in-home entertainment fees.

What are you spending on clothing, makeup, movies or even cigarettes and alcohol? So often we make routine purchases without ever examining how much those costs add up. For example, in Illinois if you smoke a pack of cigarettes a day, that adds up to over $2700 per year.

Transportation can be costly; cash, tolls, upkeep on your vehicle. Consider walking, biking or car pooling. These are all ways that you can reduce the amount you spend each month on travel.

The same is true for eating out. Replace that fast food trip with a PB&J once a week. Bringing your lunch from home can save upwards of $10 each day. Pack a lunch just once a week and you’ll save up to $500 in a year.

There are so many little ways that we can accumulate savings yet we resist because it is hard to imagine that saving that quarter today could possible offer a significant benefit down the road.

Still not convinced? Let’s revisit the coffee sacrifice example. If you continue to bring coffee from home or wait until you get to work and save $25 a week ($5/day worked) check out what that savings will bring you by the end of five years.


You will have socked away almost $7,000 after five years. Coffee never tasted as good as $7,000.00 in your bank account.

In an article from the Simple Dollar, 100 Great Tips for Saving Money, you will find several tips that you can incorporate into your daily life to help the saving process.  If, however, your financial situation has become direr than a simple savings plan can resolve, give us a call. We can help. The first consultation is always free.

Southern Illinois Bankruptcy Attorney law firm Bankruptcy Advocates, Carbondale and serves a wide geographic community including Carbondale, Murphysboro, Marion, West Frankfort, Johnston City, Benton, Herrin, DuQuoin, and Pickneyville. We are a debt relief agency. Our southern Illinois bankruptcy attorneys help people file for relief under the Bankruptcy Code. The first consultation is always free. Give us a call at 618-549-9800 or email us at [email protected]  to speak about your case or legal matter. Convenient appointment times are available.