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Money Monday
By Imagine Scholarships
Sherri Ross
February 17, 2025
💰 Money Monday – When the Cost is More than the Value
Hey there, Smart Spenders!
Did you know it costs more to make a penny than the penny is worth? Yep! Producing a single one-cent coin costs about 2.72 cents—almost three times its actual value! 😲 That’s why many experts believe it’s time for pennies to disappear.
But this got us thinking… What else in life costs us more than it is worth?
This week, we’re exploring things that drain our time, money, and energy without giving us much in return—and how to start making better financial and life choices.
🧐 What Costs You More Than It’s Worth?
We all have financial pennies in our lives—things that seem small but drain us over time. Let’s break it down:
🔹 Time-Wasters ⏳ – Are you spending hours scrolling social media when it doesn’t add value?
🔹 Overpriced Name Brands 🛍️ – Are you paying for a label when there’s a cheaper, just-as-good option?
🔹 Unhealthy Habits 🍔 – Fast food, skipping exercise, and lack of sleep cost you energy, health, and money.
🔹 Low-Value Subscriptions 📺 – Are you paying for streaming services, gym memberships, or apps you rarely use?
🔹 Toxic Relationships ⚡ – Are you investing energy in people who don’t support you?
💡 Moral of the story? Just like with pennies, sometimes we keep things around because they’re familiar—but that doesn’t mean they’re worth it.
🎓 For College Students: Stop Wasting Money on ‘Pennies’
✅ Cut the “pennies” from your budget! Here’s how:
Textbooks Too Expensive? Rent, buy used, or use free online resources like OpenStax.
Ditch the Daily Coffee Habit. $5 a day = $1,825 a year! (Make it at home instead.)
Stop Paying for Unused Gym Memberships. Find free workouts online or use campus facilities.
Be Smart with Fast Food & Takeout. Meal prep saves thousands a year.
Sell Items that you don’t use or need on Facebook Marketplace or consignment shops.
🏫 For High School Students: Spend Your Time Wisely
It’s not just about money—it’s about your time too!
Are you spending hours on TikTok when you could be building a skill?
Are you letting friendships drain your energy instead of encouraging you?
Are you investing time in learning money habits early?
💡 Swap low-value habits for high-value ones:
⏩ Replace scrolling with reading.
⏩ Replace wasting time with learning a new skill.
⏩ Replace hanging with negative people with finding mentors.
👨👩👧 For Parents: Are You Spending Money on ‘Pennies’?
"Penny Traps" for Parents: Where Your Money Might Be Disappearing
Sometimes spending money feels necessary, but certain habits can cost way more than they’re worth in the long run. Here are some common ‘penny traps’ that parents fall into—small expenses that quietly drain your budget without adding much value:
💸 Everyday Expenses That Add Up
1️⃣ Expensive Coffee Runs ☕ – Grabbing a $5 coffee every weekday costs $1,300+ a year—a good coffee maker at home pays for itself FAST.
2️⃣ Brand-Name Grocery Loyalty 🛒 – Store brands can save 30% or more, and many taste just as good (or better!).
3️⃣ Overpaying for Snacks 🍪 – Pre-packaged snacks cost way more than bulk or homemade options.
4️⃣ Too Many Streaming Services 📺 – Disney+, Netflix, Hulu, Amazon Prime, Apple TV… Are you really using them all? This one actually reminds me of this great blog post for parents.
🍎 For Educators: Time & Energy Management
🔹 Is every meeting necessary? If not, cut back!
🔹 Are you spending too much time grading? Use tech tools to automate.
🔹 Are you overworking? Prioritize self-care—your well-being matters too!
✨ Quote of the Week
"If it costs you your peace, it’s too expensive." – Unknown
Time, money, and energy are all valuable—don’t waste them on things that cost more than they’re worth.
🎯 Challenge of the Week
🔍 Identify Your ‘Pennies’!
For one week, track your spending AND how you use your time. Find 3 things that are costing you more than they’re worth—and cut them out!
🎓 Scholarship of the Week
💸 THE VEGETARIAN RESOURCE GROUP WILL AWARD 7 SCHOLARSHIPS in 2025
Amount: $10,000 (1) and $5,000 (6) Scholarships
Deadline: February 20, 2025
Who can apply? Graduating high school seniors who promote a vegan/vegetarian lifestyle or diet
📝 Apply here: VEGETARIAN SCHOLARSHIPS
That’s it for this week! Whether it’s money, time, or energy—spend it wisely!
💡 What’s a ‘penny’ in your life that’s costing you too much? Reply and let us know!
See you next Monday!
- The Imagine Scholarships Team
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