When I was in high school I went to a friend’s house to work on a group project. I arrived early and we went to his room to wait for the rest of the group to arrive. While we were games on his PlayStation (yes the original PlayStation ) I noticed the change jar on his dresser and mentioned he must have a small fortune in change. He didn’t think so, and I asked him how much he thought he had.
“$30 or $40″ was his reply.
I offered him $40 for the jar and he accepted without hesitation.
“Are you sure,” I asked?
I said, OK, but we had better count it first. By the time the last member of our group showed up, we counted $130 in change and we only counted half the nickels and none of the pennies. After we finished our group project we all gathered our things to leave. My friend told me to wait and he went to get the jar of change. I told him to keep it and put it in the bank.
The following week he told me he opened a savings account. This was before the days of high interest online savings accounts, and I think he was only earning about 1.2% interest. It probably wasn’t the highest interest rate possible, but at least it was a start.
Fast forward 10 years. I went home this summer to watch my sister’s high school graduation and I called up my friend. We met up for dinner and when I tried to pay, he insisted on picking up the tab. His reason? Before the night of our group project, he never thought twice about saving money. After opening his savings account, he began saving earnestly and graduated college without debt. He is now doing very well financially.
Small things adds up – sometimes enough to make a big difference in your life. All it takes is making that first step.