The Penny Saver's Secret

Rea,

What if saving just one penny today could turn into a million dollars? It sounds impossible, right? But that’s exactly what Benjamin Franklin - one of America’s founding fathers - set out to prove with an experiment that would last not just his lifetime, but 200 years after!

Back in 1785, Franklin was thinking about how to help young tradespeople (like carpenters and blacksmiths) understand the power of saving money. He knew that just telling them “save your money” wouldn’t work - he needed to show them something different. So he created what he called his “compound penny” experiment.

Here’s how it worked: start with just one penny on day one. On day two, add two pennies. On day three, add three pennies. Each day, you add just one more penny than the day before. It seems so simple that most people wouldn’t think much would happen. But by day 31, clmost $5! While that might not sound like much today, back then it was enough to buy food for a whole family for a week.

But Franklin wasn’t done. He wanted to show what would happen over an even longer time. So in his will, he left 1,000 pounds (about $4,400 today) each to the cities of Boston and Philadelphia. The money came with an unusual rule: it had to be saved for 200 years! He calculated that through compound interest (when you earn money on your money), it would grow into something remarkable.

Was he right? When the 200 years were up in 1990, Franklin’s experiment had turned each $4,400 into more than $6.5 million! The cities used this money to build schools, fund scholarships, and help thousands of young people learn trades - exactly what Franklin hoped would happen.

The power of Franklin’s experiment wasn’t just in the math - it was the lesson about how small, consistent actions can create remarkable results. Just like adding one more penny each day, every small positive action you take (like practicing piano for 10 more minutes, reading one more page, or learning one new word) builds upon itself over time.

Next time you see a penny on the ground, remember Franklin’s experiment. That tiny coin might not look like much, but it represents an important truth: small things, given time and consistency, can grow into something meaningful.

Love, Abba

P.S. Try your own version of Franklin’s experiment! Start with one of something (like one minute of reading) and add one more each day. After a month, you might be surprised by how much it adds up to!