Monday, July 18, 2005

Great Australian Ideas - Rounding

I didn't even notice the first few times I went to the grocery store - but they don't use pennies here. When you pay by cash, the bill is adjusted by rounding. $67.66 or $67.67 would get rounded down to $67.65 while $67.68 or $67.69 gets rounded up to $67.70. In the long run, I'm sure that any individual would only gain or lose a few pennies and the benefits must really be substanial to businesses and to individuals. The cost in time of rolling and taking pennies to the bank is probably greater than the value of the coins. I can't wait until rounding comes to Canada!!


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