Below is one of my all-time favorite true stories, printed in a newspaper in the United States years ago, and quoted by religious leader Thomas S. Monson in his talk, The Profound Power of Gratitude. There’s a personal finance lesson in it :-).
Here’s hoping that you all have a Merry Christmas, a bright year ahead come what may, and a heart full of gratitude for all that the year will bring.
The District of Columbia police auctioned off about 100 unclaimed bicycles Friday. “One dollar,” said an 11-year-old boy as the bidding opened on the first bike. The bidding, however, went much higher. “One dollar,” the boy repeated hopefully each time another bike came up.
The auctioneer, who had been auctioning stolen or lost bikes for 43 years, noticed that the boy’s hopes seemed to soar higher whenever a racer-type bicycle was put up.Then there was just one racer left. The bidding went to eight dollars. “Sold to that boy over there for nine dollars!” said the auctioneer. He took eight dollars from his own pocket and asked the boy for his dollar. The youngster turned it over in pennies, nickels, dimes, and quarters—took his bike, and started to leave. But he went only a few feet. Carefully parking his new possession, he went back, gratefully threw his arms around the auctioneer’s neck, and cried.
- November 2009 (2)
- October 2009 (1)
- September 2009 (4)
- August 2009 (5)
- July 2009 (2)
- June 2009 (4)
- May 2009 (1)
- April 2009 (5)
- March 2009 (15)
- February 2009 (19)
- January 2009 (19)
- December 2008 (23)
- November 2008 (19)
- October 2008 (24)
- September 2008 (23)
- August 2008 (13)
- July 2008 (21)
- June 2008 (16)
- May 2008 (15)
- April 2008 (23)
- March 2008 (16)
- February 2008 (26)
- January 2008 (15)
- December 2007 (12)
- November 2007 (20)
- October 2007 (23)
- September 2007 (20)
- August 2007 (27)
- July 2007 (28)
- June 2007 (15)
- May 2007 (22)
- April 2007 (21)
- March 2007 (15)
- alternative investments (2)
- banking (36)
- blog manners (3)
- blogging (3)
- bonds (10)
- books (2)
- budgeting (45)
- buying tips (23)
- career (12)
- charity (4)
- consumer issues (6)
- corporate governance (2)
- credit cards (32)
- customer service (1)
- debt (16)
- economy (38)
- education (3)
- Educational plan (1)
- emergency planning (3)
- entrepreneurship (8)
- estate planning (4)
- family finance (99)
- Financial Planning (84)
- food (4)
- forex (15)
- Frugality Week (23)
- Gifts (3)
- Government (2)
- Guest Posts (3)
- Holidays (12)
- insurance (22)
- Investing (143)
- kids and money (20)
- Lifestyle (5)
- Marriage (3)
- memorial plans (1)
- men and finance (1)
- Millionaires (75)
- Money Makeover (15)
- Money Myth Busters (23)
- MoneySense (4)
- Mutual Funds (8)
- network marketing (1)
- OFW (34)
- Plain Vanilla/CFA (3)
- poverty (6)
- Pre-Need (12)
- Pre-need industry (1)
- Quiz (1)
- Quotes (12)
- real estate (5)
- remittance (1)
- retirement (19)
- Saving money (67)
- scams (20)
- shopping (24)
- Smart Habits (8)
- So What Chocnut? (67)
- spending habits (57)
- SSS/GSIS (2)
- stock market (25)
- subprime (15)
- taxes (5)
- uitfs (1)
- Uncategorized (4)
- vacations (5)
- wala lang (6)
- weddings (1)
- weekly roundup (2)
- who's who in personal finance (1)
- women and finance (11)
- Word of the Week (4)
- Workplace (3)

4 Feedbacks on "The value of $8"
businessman
What a touching story. I wish more people learn to help those who are in need.
jamezu
That is a very heart warming story, with the value of a few dollars, we could make the greatest dreams of children come true.
Leo Ebreo
The Auctioneer in the story happen to be St. Nick and the boy turn out to be the Tour de France sensation, Lance Armstrong.
There was a lump in my throat after the auction.
Merry Christmas and Happy new year to all Money Smart’s readers.
Garry A. Garcia
I am pretty sure the kid was not Lance Armstrong since he grew up in Texas and never lived in DC.
Nice story
Please Leave a Comment!