Do you save coins?
By youless
@youless (112123)
Guangzhou, China
November 6, 2008 8:16am CST
In the past I didn't save coins. Whenever I got the coins, I would try to spend them because they were easy to get lost. Now I am different. I will give coins to my son and then he will save them. It's a way to teach him the concept of money and saving. It's very funny to hear that he says he has a lot of money
6 people like this
27 responses
@ahgong (10064)
• Singapore
19 Nov 08
I prefer to keep coins. Cos they make my pocket very heavy. And I tend to clear them out when I get home at the end of the day.
And what ever is not in my pocket, I will not spend.
That is one way to put aside some money.
The only thing that is keeping me back from storing coins of late is the increased in handling charges when I bring the coins to the bank for deposit.
From a dollar to handle 200 coins, now I have to pay two to handle the same amount of coins.
Sheez!!
Now I spend coins and keep notes!
@ahgong (10064)
• Singapore
19 Nov 08
I think so too. IT is not like they count the coins by hand or something.
They use a machine to do it. And it is the same machine since the bank was opened so many years ago. I do no understand why it cost so much to pack and bag the coins after the machine has sort it out.
From a dollar to two just for counting coins. And we have to presort them before the bank will put it through the machine for counting.
And without fail, the machine will always count one to two coins short. Everytime.
It will always count one or two coin short even when I double checked the quantity of the coins at home before bringing it to the bank!
Sigh... that is why I no longer want to keep coins if I can help it.
Better to keep notes. Not so costly to bank in when the need arises.
1 person likes this
@sudalunts (5523)
• United States
6 Nov 08
I do save coins, I used to have a water cooler bottle that I would drop all of my lose change in. I saved it for about four years, when I changed it all for cash, I had over $1000.00. Since then I continued to save my coins, but now a days I have to cash them in much sooner, because I need the money. I now have about $70.00 in change, that I will probably have to cash in this week, because I really need the money.
Encourage your son to keep saving, you will be surprised how much you can save if you do not touch them.
2 people like this
@bamakelly (5191)
• United States
8 Jan 09
I think it is a good idea to save coins. I agree that it does teach the concept of money and saving. It is never too early to teach your child the idea of putting money away so they can possibly have something nice later.
It might start out as a little bit of money but then after a while it can grow into something big.1 person likes this
@wolfie34 (26771)
• United Kingdom
12 Nov 08
That is certainly a great way of teaching children to save, so many children take things for granted and a lot think that money does indeed grow on trees, teaching them the concept of the values of money is wonderful and highly commendable my friend! I save coins and put them in a jar and when Christmas comes I will count them and use them to buy all the Christmas food, works really well and I don't have to worry about finding the money all at once!
@coolcat123 (4387)
• India
13 Nov 08
Before when i was a kid i loved saving money.I used to have an earthen pot,its called matka in our area in which i collected my coins.whenever needed i used to break it and get the necesary thing for which i have broken the matka.
Even now i have got it in my almirah but the difference is that i collect coins as well as notes also in it.
1 person likes this
@makingpots (11915)
• United States
12 Nov 08
I have always saved coins. I make a habit of clearing out my wallet every night because I don't like to carry change. We have a large jar that my husband and I both deposit to each evening. When it starts getting too full we dump and and make a deposit. It is amazing how much we save doing this.
Now my son is in on the action. Everytime we get change back at a store he asks "Can I have it for my piggy?" He is so cute about it that we have literally had strangers hand him coins from their pocket saying "take this home to your piggy." He always gets wide-eyed, huge smile and says "THANKS!!!!!" Making their day.
1 person likes this
@YamiKiba (937)
• United States
12 Nov 08
Yeah our whole family saves all of our coins in an old empty plastic mayonaise jar we've had for a long time. xD Most of the coins are pennies but hey it adds up. (:
I usually keep the dimes and nickels the zipper compartment in my wallet though just in case I want to purchase something from a vending machine like a drink or a small snack though.
@bombshell (11256)
• Germany
10 Nov 08
uhhhhhhhhh hehehehe that would be nice if i have some savings.but next year i will try to save some of it.my little girl and hubby has collection of 1 euro and also my little girl nad i dont.
1 person likes this
@gauravupreti (126)
• India
12 Nov 08
Hey ! When I was kid I use to make mess of the coins i had ...I just throw them don't know y ..haha...But as i got moe sense than before i at least don't throw them like ..but make proper use of it .Though I never same them still.
1 person likes this
@GardenGerty (157563)
• United States
7 Nov 08
That is an excellent way to teach your son. He will also have the opportunity to learn how coins turn into more money. It really does add up.
1 person likes this
@silverglint (2000)
• Philippines
8 Nov 08
I do the same thing too. Our boys always search our bags and pockets for coins to put in their coin bank. We started that in order to teach them the concept of saving. We also have our own coin bank where we put our coins then when it is full, we deposit some of the money as savings then use some of it as fun money hehe:) Its a rewarding feeling to actually be able to save up money... a few coins a day can actually become a big amount in a years time
@aseretdd (13730)
• Philippines
8 Nov 08
When i opened my piggy bank... my daughter was with me... and she was amazed at the sound the coins make... and that they were so many... she now knows that everytime we buy something... we need money to do that... so if she wants something like candy... i could easily tell her that i do not have money... and she wouldn't insist...
I save a lot of coins... and by next month i plan to deposit all of them in the bank...
@marababe (2503)
• Philippines
10 Nov 08
Yes I do save coins since I was in high school but I open it every end of the year cos my Dad has this superstition about it or maybe he just doesn't want me to save coins then cos he thinks that I don't spend my lunch money to eat just so I could save. But I still do until now, even if it's just 5 pesos per day but luckily I think I get to save more.
But I still do until now, even if it's just 5 pesos per day but luckily I think I get to save more.1 person likes this
@bbsr13 (4196)
• India
7 Nov 08
Hello! Previously I was not saving the coins.I was giving away to my daughters.But are married and living away from us.So whenever I have coins in the pocket I put those in my drawer.I think there you will find some hundred dollars.In emergency those will be utised.thanx.
1 person likes this
