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Running Head: ILLUSTRATION OF A PENNY SAVED This paper is an illustration of the phrase A Penny Saved is A Penny Earned. The paper has been critiqued by several of my peers in order to present a finished copy to the instructor. Penny pinchers have been around since the first time money was used. This was a frequent saying in the household where I grew up. Ever since I can remember, my grandmother used this phrase whenever she gave me any money. The idea behind it was that I would save the money and someday be able to use it for something I really needed as opposed to buying the candy and toys I was going to spend it on.
The thought of me spending the money foolishly instead of saving it, she could not comprehend. She came from the era where you worked so hard to get what you had, that you appreciated it more than if someone just handed it to you. I grew up and realized just how right she was yet also found that asking for help did not mean you were incapable of achieving your goals, it just meant that you had fallen into a difficult time in your life and needed a little help to get going again. I should have listened to her and followed her advice, perhaps I may have been able to retire early had I saved it all. Today in the twentieth century, being a miser is the norm. Most people will not buy foolishly just because they want a certain item.
My family has become accustomed to only buying what we need and waiting to buy the things we want until I can afford to spend the extra money. If the price tag is larger than my paycheck, we can walk away from it. Others may decide a credit card is the answer, and yet others will buy it even if it means they will not eat for the next two weeks. For many people today, walking away from what they want is a hard thing to do. Banks and credit card companies make it to easy for you to sign on the dotted line and get what ever you want without even asking any questions. With the current stability of the economy, however, consumers seem to be spending more everyday.
The amount of credit card and low-interest consumer loan debt has increased dramatically over the past year. Additionally, the cost of buying a home has continued to rise even as the rates on a thirty-year fixed rate mortgage increase. Currently, it is a sellers market and not so easy for the consumer to save that hard earned penny. Businesses around the world find themselves penny pinching everyday. Where I work is no exception. There are daily arguments about where we can obtain the same product for a cheaper price.
The less inventory overhead we have on the books, the better it looks to the accountants. If we can buy one hundred widgets from Joes Supply House for fifty cents per piece cheaper than Frans Supply House, and still make the same profit on it, we are ahead of the game. As the costs of operations continue to increase, todays businesses need to compensate that loss somehow. When the company I work for sees a sudden or gradual decrease in prophet, they look for ways to get back to that same level by increasing sales or cutting back on inventory levels. If we increase sales, we make more money and must find ways to maintain it. By making more and then spending twice as much, the whole theory of A Penny Saved is a Penny Earned is lost.
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Research essay sample on Penny Saved Is A Earned
