State Treasurer of Iowa

Tip from the Treasurer: Save $667.95 this Year by Counting Pennies

Looking for an easy way to save over $650 this year? Take part in the 365 Penny-a-Day Challenge and put aside $667.95 by December 31, 2017. Savers can use actual penny jars or online bank accounts, making this saving technique perfect for all ages. Here’s how it works:

  • Each day of the year corresponds with the number of pennies to be saved. This means one penny will be saved on Day One, two pennies on Day Two, etc. By Day 365, the penny jar or bank account will total $667.95!
  • The most that ever needs to be saved in one day is $3.65, and this won’t be until the end of the year.
To easily track savings, use the table below. Looking for other ideas? Check out these additional tips:
  • Count down from 365 and contribute $3.65 today, working down to a one cent contribution on the last day. This is perfect for people who have a little extra cash at the beginning of the year.
  • Add random pocket change throughout the year and cross off that amount on your Penny Sheet. There’s no need to follow a pattern!
  • Make a “virtual” penny jar by opening a new savings account online or at the bank. Transfer money between checking accounts and the penny jar account every week or every other week. This is especially easy for those who are paid biweekly!


 365 Penny-a-Day Challenge



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