Jill is a single mother living in Colorado with three sons. She works full time, functions as CFO, maid, psychologist, chauffeur and coach, and specializes in maximizing her income through smart, careful budgeting and cost-saving strategies. Her humor and frugality play out at Single Mom on a Budget.
I love piggy banks. In fact, I love them so much I collect them. I began collecting piggy banks when I had my first son and I called the money I tossed in there his “college fund”. Then, I began collecting piggy banks based on their symbolism. Savings.
Since I stopped using credit cards, 3 years ago, I began using my debit card. I basically got smarter about which plastic I used. I never had any issues, but I did have one really good habit that I was not capitalizing on near enough. Saving money; which I did when I had cash. Weird, right?
On the occasion that I did have cash in my pocket I would pay in whole dollars. For example, if my total at the register came to $1.22 I would pay with $2.00 even if I had $1.25 (do you know how fast quarters add up???). I would then take my $0.78, scurry home and throw it into a piggy bank.
It hit me one day that I had a lot of money in piggy banks because of the “whole dollar habit” so I started taking cash out of the bank each time I got paid, according to my budget, and began using cash instead of debit.
You would not believe how fast the money adds up. I’m tellin’ you, I had upwards of $45.00 in there before I knew it and I didn’t even know it if you know what I mean. Who misses their change? Go check out my savings as of month 3!!
I think that the value of change has become devalued in the eyes of many. Some people hate having change and it is almost seems as though it is not even considered money anymore. Uh, you can just ship it my way if you are one of those people. Heh! 😉
In all seriousness don’t spend your change. Save it. You could cash it in each year, or count it up, or save it, or put a goal on it, but whatever you do throw it in a piggy bank no matter how obnoxious that piggy bank is.
Let’s call this one the “WHOLE DOLLAR CHALLENGE”! I will check in regularly and then after one year and see how much you have saved.