1 of 38

The Penny-a-Day Effect

A thought experiment about money…. and learning

2 of 38

Would you rather…

Have £1,000,000 today

or

1p

copyright Steve Oakes and Martin Griffin info@vespa.academy

that doubles every day for a month?

3 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st		16^th
2^nd		17^th
3^rd		18^th
4^th		19^th
5^th		20^th
6^th		21^st
7^th		22^nd
8^th		23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

4 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd		17^th
3^rd		18^th
4^th		19^th
5^th		20^th
6^th		21^st
7^th		22^nd
8^th		23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

5 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd		18^th
4^th		19^th
5^th		20^th
6^th		21^st
7^th		22^nd
8^th		23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

6 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th		19^th
5^th		20^th
6^th		21^st
7^th		22^nd
8^th		23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

7 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th		20^th
6^th		21^st
7^th		22^nd
8^th		23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

8 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th		21^st
7^th		22^nd
8^th		23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

9 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th		22^nd
8^th		23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

10 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th		23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

11 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th		24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

12 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th		25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

13 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th		26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

14 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th		27^th
13^th		28^th
14^th		29^th
15^th		30^th

15 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th		28^th
14^th		29^th
15^th		30^th

16 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th		29^th
15^th		30^th

17 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th		30^th

18 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

19 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

20 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

21 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

22 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

23 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

24 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

25 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

26 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

27 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th	£83,886.08
10^th	£5.12	25^th
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

28 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th	£83,886.08
10^th	£5.12	25^th	£167,772.16
11^th	£10.24	26^th
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

29 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th	£83,886.08
10^th	£5.12	25^th	£167,772.16
11^th	£10.24	26^th	£335,544.32
12^th	£20.48	27^th
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

30 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th	£83,886.08
10^th	£5.12	25^th	£167,772.16
11^th	£10.24	26^th	£335,544.32
12^th	£20.48	27^th	£671,088.64
13^th	£40.96	28^th
14^th	£81.92	29^th
15^th	£163.84	30^th

31 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th	£83,886.08
10^th	£5.12	25^th	£167,772.16
11^th	£10.24	26^th	£335,544.32
12^th	£20.48	27^th	£671,088.64
13^th	£40.96	28^th	£1,342,177.28
14^th	£81.92	29^th
15^th	£163.84	30^th

32 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th	£83,886.08
10^th	£5.12	25^th	£167,772.16
11^th	£10.24	26^th	£335,544.32
12^th	£20.48	27^th	£671,088.64
13^th	£40.96	28^th	£1,342,177.28
14^th	£81.92	29^th	£2,684,354.56
15^th	£163.84	30^th

33 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th	£83,886.08
10^th	£5.12	25^th	£167,772.16
11^th	£10.24	26^th	£335,544.32
12^th	£20.48	27^th	£671,088.64
13^th	£40.96	28^th	£1,342,177.28
14^th	£81.92	29^th	£2,684,354.56
15^th	£163.84	30^th	£5,368,709.12

34 of 38

If you doubled your money every day…
1^st	1p	16^th	£327.68
2^nd	2p	17^th	£655.36
3^rd	4p	18^th	£1310.72
4^th	8p	19^th	£2621.44
5^th	16p	20^th	£5242.88
6^th	32p	21^st	£10,485.76
7^th	64p	22^nd	£20,971.52
8^th	£1.28	23^rd	£41,943.04
9^th	£2.56	24^th	£83,886.08
10^th	£5.12	25^th	£167,772.16
11^th	£10.24	26^th	£335,544.32
12^th	£20.48	27^th	£671,088.64
13^th	£40.96	28^th	£1,342,177.28
14^th	£81.92	29^th	£2,684,354.56
15^th	£163.84	30^th	£5,368,709.12
		31^st	£10, 737,418.24

35 of 38

What idea is this image exploring?

copyright Steve Oakes and Martin Griffin info@vespa.academy

36 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

What idea is this image exploring?

37 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy

As a metaphor – how might ‘the compounding effect’ of the penny help illuminate and comment on the process of learning?

Similarities with learning?

Differences with learning?

Examples or personal experiences that connect the two?

Important concepts? Habit? Action? Consistency?

38 of 38

copyright Steve Oakes and Martin Griffin info@vespa.academy