It can be amazing how quickly those extra coins can add up. This guide is about saving spare change.
I have been saving my husband's and my spare change for years. This year I decided to document every "cash-in", to see exactly how much change that we DID wind up with at the end of the year. I have always used this money for a rainy-day fund, like when I was absolutely out of money, needed gas for the car, or an unexpected item from the grocery store.
This year, I determined to earmark the money for a special project. so I started collecting in January, and planned to use the money for garden expenses. If I used any of the money in the jar, then I made note of how much was taken, and put a reminder to repay it in the jar.
This way, I was able to: 1. See how much money that I was able to save from just loose change, and 2. Keep up with how much was spent on my garden in a year's time. Since I knew that I was "saving" money, I often would give a dollar to pay for an item, instead of correct change. I knew that the small amount would not make a difference to my budget, but would help contribute to my garden fund.
As of this date, November 5, I have so far saved almost six hundred dollars in loose change, and spent $582.00 on my garden. I knew that the change collection was a big help, but now realize how much, since I started actually keeping track of "deposits and withdrawals". I was very pleased to learn what the actual figure was.
My husband and I have done this for years. We call it our "spend to save" plan. We never use our change for purchases -- we always use our dollars. All change makes it home and it is placed in a small crock. As the crock fills up, I sort the silver from the pennies. The pennies go in a large 5 gallon jar and the silver all goes into a large red piggy bank from my husband's childhood. Over the years we have bought a new large TV, a laptop, it has financed a couple of trips to Florida, etc. It is always there if there is an emergency but so far we have not had to use it for that reason. When we cash it in at the bank we go splurge on ourselves.
I paid for 3 years of college for my son with change. We started when he was in 9th grade and put each denomination into its own coffee can. When the cans got full, we had him and his friends help roll the change and then deposited into a separate account for his college fund. Now I just save change in little glasses and when they are full, I roll them and put them into my safe. When I get $100, I put it in my savings account and use it every year for my vacation and my bowling tournament. It's a great way to save!
This has saved me a few times and I love it. I made a few shopping totes and had one left over. I found some spare change and tossed it in the purse. I went about my day and weeks, never remembering the money was there. I found some change laying around the house. I quickly thought of my purse and made a deposit.
Since I no longer work outside the home, I've been looking for ways that I have my own money. My husband hands over his check and never questions where it goes, but it is just not the same.
Whenever cash is paid for something and change is given back, save it. Change adds up fast into big bucks. I also save the one dollar bills and group into tens.
Many of us are living cheque to cheque and trying to make ends meet. How are we supposed to save money when we barely have enough as it is now for basic needs?
When we know we are going to have to provide for a wedding or new baby that is on the way, we start saving. We take a pint canning jar and start unloading our change and any tips we get.
When the vase gets full, I take it to the bank and deposit it into my "special" savings account. Since I only glance at the statement once a month I don't see how much it has accumulated, so I'm not tempted to spend it.
My husband and I collect the spare change we find around the house, in the laundry, etc. I found a big antique Ball jar at a thrift store and we use that. It is easily contained and looks nice on the shelf.
Dollar bills have a letter on the left hand side of each bill, identifying which Federal Bank it is from. Bills are lettered from A to M. Choose a letter or two and every night sort out any bills with that chosen letter to put aside for savings.
If it is hard for you to save money, only spend dollar bills and save all the change you get in a jar or container at home. My daughter and fiance' have been doing this for the last 2 months and have $150.00 already. It is easy and fun to watch it grow.
My husband and I have done something from the very start of our life together. Every time we find money on the ground, we keep it separate from our own and put it in a clear glass piggy bank when we get home.
Remember coins are money, too. I have seen kids run away leaving a shower of pennies behind them, which I picked up! Some people have trouble paying with change, but it's currency, too!
Save all your coins everyday and place them in a container and after a year use that money for something you want to do, like a vacation. By Carol
My husband and I always save our change, but recently we have started saving our one dollar bills. At the end of each day, we put all of our ones in a little bank, and on Saturday, we deposit what we have, this week alone our deposit was $54.00. You'd be amazed how quickly they add up, and you don't really miss them. By Carol
This will add about $30 every couple months to your savings account: Start saving all your pennies. After you're used to doing that for a while, start saving ALL your change. Then save all your $1 bills. I save all my change and (well okay only some) dollar bills and end up with about $30 (give or take)every couple months to put into my savings account. Where does it come from? I guess it's magic! By Jayne