Tuesday, October 28, 2008

Would you pick up a 5-centavo coin?

http://img504.imageshack.us/img504/1143/cent01jc4.jpg
A 5-centavo coin is on the floor. Would you exert effort to pick it up? In US dollars, it's worth is 0.05 Philippine pesos = 0.0010246 U.S. dollars.

That is our current smallest valued coin here in the Philippines. Not all is a penny picker-upper.

Knowing the value of money, some people still pick up those. I always pick them up and just deposit them to the bank when I am going to deposit some money. Here is an article I found..

A recent survey by America Online came up with some interesting opinions and facts regarding our one-cent coins (which AOL refers to as "pennies").
The heading for the column was, "Are You a Penny Picker-Upper?" The vote resulted in a surprising 80 percent saying "yes."
That number does not jibe with our observations of cents lying in wait in the same spot day after day on the street, or hour after hour on the mall floor.
If the survey asked the age of the respondents, most of those saying "yes" would be older adults who remember hard times when a one-cent postcard and the one-cent gum machine were commonplace.
Kids almost never pick up pennies. In fact, many coins can be found on the grounds after school at any elementary or middle school.
AOL also asked what people do with these coins. The majority said they hoard them until there are enough to cash in. About 40 percent said they accumulate only a few at a time and then spend them. A small percentage said they avoid them as much as possible.
More nice facts to read about money habits...

  • 15% of us tally the loot in our wallet at least once a day, and 10% never do.
  • 72% of "normal people" store bills in rigid order, with smaller currency leading up to higher denominations.
  • When the cashier gives us a penny and nothing more in change, just half of shoppers accept it.
  • 35% of survey respondents say they wouldn't spend the time and energy to get a refund for anything less than a dollar.
  • 26% of people jangle the change in their coat pockets.
  • We tip less at restaurants on rainy days and more when it's sunny, when the bill comes on a tray, and when we're eating alone. The tip also improves when waitresses draw a smiley face on the bill. When waiters do it, we're less generous.
  • You wouldn't be a millionaire if you lack 5 centavos even if you have 999,999.95 pesos.

    ===
    Philippine Gov't eyes new sin tax rate

    2 comments:

    ohmski said...

    then im "normal." hehehe

    Cheftonio said...

    @ohmski,

    I'm sure we all are... :P