Money is always such a serious and sometimes taboo topic. We all want more of it and spend a lot of time researching ways to get it. I thought it would be neat to share some fun facts and tips about money and finance among all the serious and strategic 😀
A few fun facts about money.
- Do you know it costs more money to make a penny than it is worth? On average, in 2017 according to CBS news, it cost 1.5 cents to make a penny. Some reports even went as high as 2.06 cents to make a penny. That’s crazy!
- Ironically enough, in Feb 2020, it is reported roughly 80% of the US currency in circulation is $100. AND even more of a fun fact, is the Federal Reserve has noted that 2/3 of the $100 they have printed are unaccounted. Possibly hiding under your bed? 🙂
- I found this fun fact to be so neat! If you have a bill that is damaged, but at least 50% identifiable, you can mail your money to the US Treasury and they will reimburse you! The US Treasury holds a special place in my heart since I interned there one summer during my college years.
- A game I loved and learned a lot about money from prints more game money than real money. Can you guess which game it is? …. Did you guess Monopoly? Yes, it’s a fun fact that more monopoly money is printed each each than real money. Roughly $50 billion in monopoly currency compared to $1.3 billion US currency.
- The largest bill ever printed was a $100,000 bill. Although it was never issued for public use, there are still a handful around in museums. The largest bill in circulation was the $10,000.
Did You Know …
- If you invested $1 in the S&P 500 in 1950, in 2017, it would have been worth $1216, just by letting the index do its thing.
- As an entrepreneur, you can still contribute to a retirement account. If you are employed, you have several options as well. Make sure to seek out information to not lose opportunities on tax advantages or company matches!
- Because I love numbers, I thought this next one was super neat! The “Rule of 72” will give you the number of years it will take to double your investment at any rate of return. If you invest $1000 and expect a 6% rate of return, it will take you 12 years to double your investment to $2000.
- President Abraham Lincoln is the only president facing right on a coin. All the others face left.
- Do you ever wonder why you can put money through the laundry and it still remains in tact? It’s because paper currency isn’t actually made of paper, but of a combination of linen and cotton cloth.
Fun (or at least interesting) tips.
- Make it less tempting to use those savings by having your savings account at a different bank.
- Consider using the following technique: if your purchase isn’t a heck yes I need/want/have to have this, then it’s a not today.
- Consider this mindset on budgets: tell your money where to go, not wondering where your money went.
- Fun savings game: choose a denomination to save. Each time you pay and get that $1, $5, $10 back, save it instead of putting it back in the spend pile.
- Pick a day to not spend any money and encourage everyone in your family to find something fun to do. Go to the library, talk a walk at the park, play board games, host a potluck meal.
What are your favorite fun facts and tips on money and finance? I bet you know some that I didn’t share here. Comment below or send me a message to connect more on money, finance and fun 🙂