What's the right way to handle various money situations? Is there even a "right" way to deal with the different money-related ethical questions many of us regularly face? In this monthly series, Money Morals, we look at issues in the "gray zone" of handling money and let you voice your thoughts on the right way to respond.
Here's this month's situation:
You're walking through a nationally known retailer when you spot a $10 bill on the floor. What should you do with it?
Some thoughts:
- You can hang around to see if anyone comes looking for it, then decide what to do.
- You can immediately pocket it – finder's keepers, after all.
- You can take it to the store's lost and found or customer service area – or to the nearest clerk or cash register.
- Or maybe there's a different/better solution.
Some additional considerations:
- Would your answer change if the amount was different? Would you do something else with $100? What if it was $1,000?
- Would your answer change if another person was with you? Your mother? Your child? Your pastor or church leader?
- Would your answer change based on the retailer? Would you take a different path at Walmart than you would at Macy's?
Leave your thoughts in the comments below.
More Resources:
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The right thing to do is to bring it to customer service. But that's not to say we're not tempted! I know that if it were my money, that's what I would hope someone would do!
A friend of mine once found a $100 bill on the ground at a grocery store during Christmas time. He told the manager of the store, and the manager said, "What am I supposed to do with this if no one claims it?" My friend told him to put it in the Salvation Army kettle.... I don't know what ever happened to the money, but I hope that it helped someone somewhere.
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Cmon... 10 bucks is a no brainer.. pocket it. The issue does become murkier as the amount grows. Giving it to customer service could simply mean that customer service pockets it.
Maybe the idea of giving it to a charity yourself has merit.
And as was pointed out in another article dont forget that money found is TAXABLE and REPORTABLE to the IRS. That is where the ethical dilemna arises.
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Luke Sidewalker replied 4 months ago
I agree $10 is a pocket-able amount. Any larger and the guilt would be too much to bear.
The real question is, how long before $20 becomes a pocket-able amount? Perhaps when the dollar index reaches 70? if so it looks like it will be some time next week!
Depending on the size of the bill, I might tell customer service. If anyone comes to claim it, I would ask them where they think they dropped it and how much it is.
If neither of these answers are acceptable, we're going out tonight!
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Hello Burger King!!
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I would definitely ALWAYS let it be known that I have found some money. I could not sleep at night if I didn't!! Here is what I would do though.
If you take it to customer service and leave it, what happens if it is unclaimed? I took some found items to customer service once and when the lady who lost it went to ask about it, it had mysteriously disappeared. Hmmmm.... Wonder what happened to it?? I was honest, but the service person wasn't. SO...... to solve this problem, I go to the service desk with my name and number, or name and email, or whatever you feel comfortable giving to them. I let them know that I have found some money, piece of jewelry, etc., and if the owner or person who thinks my found item might be theirs, comes forward, have them give your information to that person so they can contact you if they really care to have it back. Some people don't want the money or item back, while others do.
I feel like everyone wins in this situation. If the person who lost it never shows up, then the honest person who reported it, gets a reward for honesty and they may keep it or give it to charity or whatever they choose (their choice)! If the person who lost it comes forward, then they appreciate the honesty of the person who found it. I cannot see why the store (or in my example above, store employee), should profit. The honest person should gain if it is unclaimed!
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The amount is the key. If you find $10 or $20 lying on the floor and you cannot determine whose money it is, then you should just keep it. It cannot possibly mean that much to someone else, and if I lost $10 or $20 dollars, I would hope that the person who found it, kept it. Now at the $100 range, I would try to hang around to see if someone comes looking for it, but no more than 5 to 10 minutes. At $200, I would report it to the store and leave it with them. It is just too much money to keep. If I found it on the street though, I would just keep it since there is no one to report it to. But stores have lost and found desks and that is where you should leave anything of value that you find. That is what I would want someone to do if it were my money or item, so do unto others as you would have them do unto you. If the store clerk takes the money, that is their bad behavior and not mine. I can only account for myself.
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