Wednesday 11 February 2015

Spare Change?

Not sure how many of you put your spare change in a jar when you get home. I have done this for a while and at the end of the year, there is always enough money for a nice treat, such as a restaurant dinner etc. Unfortunately, the majority of change is in small denominations such as the 1 cent piece. In the UK, there is a debate on whether the 1 and 2 pence coins should be eliminated. In Australia, the smallest denomination is the 5 cents coin, which makes a lot of sense in that the price is always rounded up or rounded down to the nearest 5 cents. This eliminates all the extra change being carried around and does balance itself out in terms of rounding up and down.

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