How Do You Take Your Hundreds?
My mother sent me an email the other day and, although I’m not quite sure why she sent it to me, I found it intriguing.
Okay, My Children,
Which would you rather have?
twenty $5 bills
five $20 bills
one $100 bill
Now this could be a promise of money
, although I highly doubt it. Nor is it likely to be a math quiz
. If it’s one of those pop psychology emails
making the rounds, she forgot to include the answer key. It could be her latest savings plan
, like this woman who saved $12,000 by saving her $5 bills
. Or maybe she just wanted to be mentioned on Almost Frugal.*
Whatever her reason for sending it to me, I think it’s an interesting question and I suspect that our seemingly simplistic answers actually give a great bit of detail about our personal finance philosophy.
I chose to ‘take’ one one hundred dollar bill. When I have a larger bill like $50 or $100 (never actually having seen anything larger) I am extremely reluctant to break it. The likelihood of me actually making it to the bank to deposit the money into my savings account would be very high. But then again, there are people like the woman cited above, who turn small amounts into large savings. What my answer reveals, I think, is how much I lack the trust in myself to manage my money well. Even with starting out with equivalent amounts, I have no faith that I would achieve the same results. This is something that I’m aware of, and struggling to overcome, if slowly, very very slowly.
Which choice would you make and why? What does your choice say about how you manage money or your financial fears?
*Let’s see if we can get her to comment, shall we?