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By Doris Daugherty
Agent’s note is a release on consumer education by Don ' Long of the agricultural economics department at Virginia polytechnic Institute. "A penny saved is a penny earned!" So we’ve been told time and time again in years past. No doubt we’ll be told time and time again in years to come. While I often take old sayings such as this one with a grain of salt, this is one to which I do subscribe wholeheartedly. In fact, it doesn’t go quite far enough to tell the whole story A better way of saying it today would be “A penny saved is far more than a penny earned." How can a penny be far more than a penny earned? it’s really quite simple. If you save a penny, you have that whole penny to spend sometime in the future. (And, after all, that’s what money Is really for., to spend, either now or sometimes later.) As a matter of fact, if you invest it or put it in a savings account, you should have more than a penny. In any case, you do have a whole penny to spend. You can’t say the same thing for a penny you earn. Some of it goes for income taxes; some may go for social security, some may go for some other payroll deductions. As a friend of mine once said, “When I get a pay raise, the deductions get more than I do." You may not I-—I
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