Why You Should Keep a Spare Change Jar
Is there anything sweeter than taking that full jug of change to the bank and getting yourself some dollar bills? It’s like winning a little lottery. It might feel like free money, but it’s just your leftovers.
Think of it as a separate savings account that sits on top of the fridge. Every time you have change left over from a purchase, toss it in the jar. When it’s full, cash out.
Most banks now offer change machines for their account holders at no charge. Don’t use any machines that take a percentage.
If you want to take it a step further and boost the reward, don’t stop at change. You could put all your one dollar bills in there too. Only keep five dollar bills and above in your wallet, and the rest goes in the jar. This will boost your savings total, and also keep you from spending. People are much more likely to spend smaller bills when they have them, so this eliminates the temptation.
But there’s more!
What if every time you emptied the change jar, you deposited it right into your savings account? Then you’d be saving money without even trying!
Need more motivation? Give the jar a purpose. Put a note on it with your savings goal. It can be a certain amount you want to save, or an item you eventually want to buy.
The point is that that change is money too, so don’t forget about it when you think about boosting your savings.
For those of you who want to avoid the change altogether, check out Katie G’s previous post about Keep the Change Saving.
What do you do with your spare change?