Tag Archives: special occasion

The Power of Saving Spare Change

My family and I are in competition to see who can save the most spare change by year end.  What started as a little friendly wager among family members has grown into a major event not to be taken lightly.  As a matter of fact, last year my Pop had to use a hand truck to haul his change into the bank to deposit.  Now that’s a lot of change!

Although I’d like to take the credit for being the catalyst that started this wonderful challenge; I can’t…those bragging rights go to my Mother.  She’s been saving her spare change since I was an adolescent.  I vividly remember her coming home tossing those shiny coins into a peanut can on her home desk.  I’d watch her do this year after year and guess what?  She’s still saving her spare change today.  She’s done so well with saving her change, that she’s encouraged us all to start saving.  We’ve become so enthralled with the whole idea of what you can do with saved change that we have started a competition.  

As far as I can tell, I’m leading the pack right now….just kidding…I actually don’t know how much the others have saved but I know that I have more than $100 in change and it’s just March! 

 It’s amazing how small things can add up.  🙂

Below are some great ideas or goals for saving your spare change:

  • Take a long awaited Vacation
  • Save for Christmas and birthday presents
  • Save for a Special Treat for yourself such as getting a massage, facial or buying that iPad you’ve always wanted
  • Saving your change to contribute to an IRA
  • Our starting the long awaited emergency fund
  • Pay off some bills (credit cards, etc.)

Saving spare change is so easy to do….it’s almost mindless. Those were just a few ideas just to get your juices flowing.  If you have kids, giving them a piggy bank is great way to get them started saving.  They can save for that favorite toy….it’s never too early to teach them about money and plus it’s fun!

For those individuals who don’t like to carry around cash there are many banks who have programs that will round up your purchase and put the difference in a savings account.  So now there’s no excuse, everyone can save their spare change.  Don’t wait, get started today.

What are some goals or ideas you have for saving your spare change?