Think a coin jar is just for collecting gum wrappers and spare buttons? Barely have enough change to make a roll of pennies after months and months of saving? These tips for having a successful coin jar will help.
Do you want to save coins but find yourself dumping them out just as quick as you collect them? Or, perhaps it feels like those coins just aren’t adding up quickly. If you are saving coins without any real success, it might be time to fine tune your strategy.
Take a look below at 7 tips for having a successful coin jar so you can see those savings add up!
1. Don’t pay with exact change.
When you avoid paying with exact change, you can get a jump on your savings.
When shopping and your total is $2.55, don’t pay with $2.55 or even $2.60, instead, give $3 so you can get a significant amount of change back. Then, put this change directly into your savings jar.
2. Clean out your purse weekly.
You know how all that change typically accumulates at the bottom of your purse?
Each week, take the time to gather it up and turn it into your change jar. This can be the change in your purse, car, pockets, etc. This way you don’t spend it and let it accumulate in savings instead.
3. Use a tricky jar.
Use a jar or container that isn’t easy to get into.
Choose something with a narrow neck or a container that will need to be broken in order for the change to be released. The tougher you make it to retrieve; the tougher it will be to cheat!
4. Forget CoinStar machines.
Sure these machines make counting your change simple, but they also charge a hefty fee.
Instead, see if your bank offers a free counting machine. Or if you have to, do it the old fashion way and roll your coins up by hand prior to redeeming.
5. Get the family in on the action.
A little competition is fun and motivating.
Give each family member their own coin jar so it becomes a contest. This way, everyone can stay motivated to collect their change and save it. Give everyone similar jars so you can see who is in the lead at any given time.
6. Know the value of your full coin jar.
Knowing how much money you will have when your coin jar is full is a great way to stay motivated.
For example, a milk carton holds about $75 worth of pennies. Just think if you were adding other coins as well how much money you would have when full! If using a two liter bottle, water cooler bottle, or other standard size container, you should be able to Google the answer and see how much of any particular coin it can hold.
7. Keep it out of sight.
Keep your coin jar somewhere private.
This way you or other family members won’t be tempted to get into it for non necessary purchases. It will also help keep vandals or thieves away who love to help themselves to it. Keep it in a hidden area where only you know where it is and can add to it as needed.
Are you ready to start saving those coins and watching your money grow? Give these 7 tips for having a successful coin jar your attention and you will see how easy it can really be.
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