Man makes his last mortgage payment in pennies
POSTED: Saturday, July 14, 2012 - 10:15am
UPDATED: Saturday, July 14, 2012 - 10:19am
NBC NATIONAL NEWS — A Milford, Massachusetts man who pledged to make the last mortgage payment on his home with pennies has fulfilled that promise.
He used more than 800 pounds of the change to make the mortgage payment and he says the unusual payment method started as a joke between him and his wife.
“I kept saving pennies, saving pennies and I’m saying this is going to happen,” said Thomas Daigle.
They saying goes, “a penny saved is a penny earned,” and no one has followed that life lesson more than Thomas Daigle.
“I've never saved anything other than pennies. And it started out as a whim. You know, a penny for the mortgage,” Daigle added.
35 years ago as Daigle, a business owner in Milford, and his wife Sandra were leaving the bank after getting the new mortgage on their home, he saw a penny just laying in the parking lot and that's where it all started.
“I picked it up and I said to my wife, ‘Ah, a penny towards our mortgage,” said Daigle.
Fast forward to this spring when Daigle called his bank and showed up to the Milford Federal Savings and Loan with two large metal boxes full of rolled pennies -- 62,000 of them -- the last payment on his mortgage.
“Everybody was so happy at the bank I’m surprised they didn't have a cake or something,” said Daigle.
That’s probably because the bank employees didn't know what they were in for it took them two full days to unroll what Daigle spent his entire adult life rolling in his basement.
“I roll pennies. It would be three or four rolls or five rolls and I put them down in a box under my work shop,” Daigle said.
The two steel boxes weighed more than 200 pounds each -- a pay off that can remind all of us a thing or two.
“It’s teaching the value of a penny, teaching discipline. Young couples, young people today need to learn to save,” Daigle said.