Showing posts with label pence. Show all posts
Showing posts with label pence. Show all posts

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.