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Do you stash your pocket change to save up money? email this discussion to a friend?

myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living2 years ago

I have often stashed away pocket change as a source of saving money. It can add up quickly if you don't spend your change and break another dollar each time you buy something. The change can go in a jar or bank and be cashed in once per month (or whenever you decide you have enough to make it worth your while).
Do you save your change?


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speakeasy (1190) response was accepted on 4/20/2007.
denotes best response.
tags:  money, change, pocket change, save, save money
 
1. myLot reputation of 94/100. mickidmw (559)   ranked 72 out of 115 in frugal living   2 years ago

Yep! I am also doing the Save the change thing on my bank account! It puts all of the change into my savings accoutn!


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

That sounds like a good program. I will have to look for something like. There are some really good bank accounts and savings plans available today.

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2. myLot reputation of 81/100. samrat16 (2246)   ranked 69 out of 115 in frugal living   2 years ago

Yes, I agree with you that saving money like this helps us to earn more all the time. We can save all changes and it can become big amount.


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

Those nickels, dimes, and pennies add up, don't they? I especially like it when I have lots of quarters because they add up quicker. It is a good way to save a little bit of money every day.:o)

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3. myLot reputation of 79/100. Rozie37 (6487)   ranked 67 out of 115 in frugal living   2 years ago

I will be honest, if it is anything more than a penny, it's gone. I have a container with over five dollars in pennies in it. I am saving them for an emergency, it would have to be very important for me to want to be bothered with them.
I have been saving them for a little over two years and I don't plan on needing to spend them for a very, very long time. Several times, I have come close to spending them up, but I have not had to yet, which is pretty cool.


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

I save all types of change, but I like to keep the pennies separate. Like you, I don't spend them unless I have to. I had to once a few years ago and was surprised by how much money I actually had. They say that "a penny saved is a penny earned"!

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4. myLot reputation of 47/100. silver_eagle (144)   ranked 71 out of 115 in frugal living   2 years ago

i don't get much change to save even though i think ur idea is good and can b really helpful keep saving best of luck


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

Well, since many people have a hard time saving money, this might help. It's not as hard to empty your pocket change into a jar at the end of the day as it is to take dollars and put them back for later. Change can add up pretty quickly. It's not a ton of money, but sometimes it can be a big help in a pinch or you can save toward a special item.

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5. myLot reputation of 86/100. jdw1971witch (4395)   ranked 70 out of 115 in frugal living   2 years ago

yes i do and i also think that it is a good way to save the change in case you need it for an emergency or if you need it in the middle or the end of the month which is a problem to me.lol i try to save up all of my change at the begining of the month and than use it at the middle or the end if i needed to.if not i dont touch it and use it only if it is nesecarily.this way when i need the money it will be right there at my fingertips.even though it is hard to keep it out of my mind not to touch it i still try to save it up every month.thanks for asking as i think all of us need to save some change back for a rainy day if needed.
blessed be
Hecate's witch)O(


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

Yes, having a rainy day fund is a very good idea. This method makes it simpler to do, I think. It's also a good habit to start saving money, so I give my kids change to save as well. They save up to buy something nice or to have spending money if we go on vacation.

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6. smilyia (44)   ranked 65 out of 115 in frugal living   2 years ago

I always save my change,cause i think if I have more money that i can do something i want to do .such as traveling and shopping...Anyway,money is a good thing in our life.Saving more is better than not.


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

I agree that saving money is good. Sometimes it is hard to do, which is why I like the easy method of saving change. It's nice to know you have even a little extra money saved if you need it.

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7. myLot reputation of 92/100. speakeasy (1190)   ranked 33 out of 115 in frugal living   2 years ago

Of course, I have been doing this for years. Last time I cashed in my coins I had $72.00 and they wre getting kind of heavy.

Another easy way to save a little - when you enter deposits in your checking account only add in the dollars. When you subtract money you spent, ALWAYS go up to the next higher dollar. This way you save between 1 -99 pennies for every entry (unless it really does end in .00). This is a painless way to save and in just a couple of months you have a nice little cushion built up.


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

Excellent tip. I do this too. It really helps. It also cancels out those pesky fees that you get charged for using another bank's ATM... those fees are so easy to forget! Saving money is even better when it's painless. Thanks for the great response.

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8. myLot reputation of 96/100. Hmmmmm (1568)   ranked 35 out of 115 in frugal living   2 years ago

I do something similar to what you do. I roll the change, and put the change away in a box in a closet (out of sight, out of mind). The next time I have to roll change, I go into my purse and exchange bills with the change I have already rolled and then deposit the rolled change into my bank account (the box doesn't break that way!). When I rack up enough singles, I replace them with larger bills. It's a game for me.

I also do something else. I told my boyfriend that every once in a while I was going to take a dollar out of his wallet, and that when I did, I would match it with a dollar from my purse, and those dollars would go into the hidden box. I also told him that I wasn't going to tell him when I was doing it and that I would only do it if I knew he had enough money in his wallet that he wouldn't even know I took it. I did this every few days for a few months and he never noticed (even though he knew I was doing it!). Our secret stash ended up giving us almost $200 extra to gamble with on our last trip to Las Vegas.

Our new plan is to do exactly the same thing, only instead of hiding it in a box in a closet, we will be opening an interest-bearing savings account.


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

Wow. That's really cool and you managed to save quite a bit of money. Nice job. Rolling up coins used to be a chore, but my bank finally got a change counter, so now I just take it in and let them count the money.

Good idea about starting a savings account. Best wishes on your next adventure!

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9. myLot reputation of 93/100. 66jerseygirl (1976)   ranked 34 out of 115 in frugal living   2 years ago

Oh yea,both my dad and I do that.Whenever we get change,we put it in our Garfield bank and whenever it gets filled,we take it to the coinstar machine to be coverted to bills then we deposit it in the bank.of course that also goes towards us going back home.We also pick pick up any change we see on the ground.It's mostly pennies but they do add up .I have also found quite a few nickles,dimes and I found a quarter once.


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

Yep, those pennies do add up, Jersey Girl. I keep them separate but before you know it, you have lots, and then they turn into dollars.;o)


myLot reputation of 93/100. 66jerseygirl (1976)   ranked 34 out of 115 in frugal living  2 years ago

got that right!Money is money!It doesn't really take it that long to add up does it?

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10. peetj8585 (29)   ranked 68 out of 115 in frugal living   2 years ago

Yeah, I also often dip into the jar when I need a couple dollars too. It comes in very handy.


myLot reputation of 93/100. Lady_Justice (456)   ranked 3 out of 115 in frugal living  2 years ago

That it does. I try not to, but sometimes you need a few extra bucks and it's nice to know it's there.

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