Saving Money on Other Non Necessities forum: How bout just Saving Money Period?

 
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ImageButterflyChaser
Feb 14, 2010 8:45 AM CST
Name: NancyAnn
Jonesboro Ark
I hope this fits here. I know many of us just have trouble saving Period. So we don't have money for extra needs that come up. One way I've been able to hoard away a little money is by saving all my change. Everytime I buy something, I pocket the change. When I get home, I drop it in a bowl and I don't touch it again. Every few weeks, I count the change and add it to a bigger container and I keep a running total of all the change in the container. This is my "Mad Money".

Over time, those pennies, nickels and dimes all add up. You'd be surprised how quickly you can squirrel away $200 without even noticing that you're doing it and without missing the money from your budget.

This is how I built the privacy fence around my property. I did most of the labor myself and bought the lumber as I had the cash. About half of the cash came from loose change.

The odd thing is, when I cash in the loose change to use for whatever I need it for, I don't cringe when I spend it because it feels like "free money".

So start your own "Mad Money" fund. Then when that costly car repair needs to be done or your child needs a doctor or you need a vacation, you'll have a little extra cash for the job.

NancyAnn
ImageUniQueTreasures
Feb 14, 2010 1:31 PM CST
Name: Janet Colvin
Z8~Beaumont~Southeast Texas
Proud member of Cubits.org
Nancy Ann,

That is an excellent idea! We've got one of those big water bottles. We put all of our change in there. The only time we actually get into the jug is when it's time to wash the truck. Then we lug it out and tip it over to gather some quarters. Otherwise, it stays put.

Speaking of washing the Truck.....Something I am found of doing is gathering parking lot change. While hubby is doing the washing of the truck, I am wandering around the parking lot, picking up change that has dropped. Especially over close to the vacuums. It's like people toss out their pennies. I also check where the coin slots are on each of the bays for washing. I will usually put about $10 in quarters there.... and feed in about 10 minutes worth at a time. When I know he's about to rinse, I gather up my own and put them back in my pocket, adding to whatever change I've found on the ground. Thumbs up
Image3jsmom31
Feb 16, 2010 8:13 PM CST
Name: Dawn
Eastern KY Zone 6
I save change for Christmas and Thanksgiving dinners Rolling on the floor laughing
ImageUniQueTreasures
Feb 16, 2010 9:09 PM CST
Name: Janet Colvin
Z8~Beaumont~Southeast Texas
Proud member of Cubits.org
That sounds like an excellent idea too Dawn.

Big dinners like that are always at my house. I'm the only one with enough room to have everyone to the table. I usually get the others to bring something (usually something that I don't want to take the time to mess with, or else their specialties) and that helps with the expense too. I don't think either of my daughters has a clue how much a meal like that costs. Both are in their 20's, but since it's always here.... well..... the youngest usually just shows up. Although to give her some credit, the 2 years I didn't have a stove and told her I was going to make spaghetti for Thanksgiving, she cooked a turkey and did a magnificent job. Of course, I bought it, and sent her a tub of the seasonings. All she had to do was wake up and put it in the oven! Smiling
Image3jsmom31
Feb 17, 2010 8:39 AM CST
Name: Dawn
Eastern KY Zone 6
Well, I give myself a fixed allowance each week, and change is the only way I can save for the big dinner painlessly. It's better than cracking out a credit card for something that will be long gone before you pay for it. It a good thing with the kids, too, because they see how little bits of change add up to quite a bit. We also kind of have a contest to see who can find parking lot change. It is light hearted and the finder gets to put it in their piggy bank. One found a $10 bill, and that was a happy time for him :). I encourage my kids to save half of their allowance and always tell them that if they can live on less than they make, they'll always have something to help when they need it. I don't want them to be sucked into the credit card age. If they fall into that trap anyway, at least they'll understand what mom meant :).
ImageUniQueTreasures
Feb 17, 2010 9:28 AM CST
Name: Janet Colvin
Z8~Beaumont~Southeast Texas
Proud member of Cubits.org
A word of advice from my father was similar to your advice to your kids. He said "With each payday, ALWAYS pay yourself first. Put something into your savings account, even if it's only a few dollars each payday. If you have to borrow, borrow it from yourself and pay it back, just like you would any other creditor." Every time he got paid, they bought a savings bond.

When I was growing up, I never once saw my parents put anything on credit. The only thing they borrowed money for was their house. We always had used cars. My Dad was an awesome mechanic and could fix just about anything with a paper clip and a rubber band (much like MacGyver).

When my Dad died 16 years ago, one of the first things my mother did (advised by a friend to establish credit for herself) was to buy a car on credit. She bought a brand new car. She knew she'd be traveling from San Antonio to Beaumont and didn't want to have to worry about her transportation. Well, the first time that note came around and my mother paid it, she couldn't stand the thought of paying so much interest and wrote out a check for the car. The great thing was that they'd saved enough money over the years by being frugal for her to do that.

Nowadays, Mom has established her own credit and uses credit cards, but it's almost a game to her to see if she can get home quick enough to pay it off on line before the bill shows up.

My Dad loved to shop. He would check the clearance aisles at Target, etc. all year long watching for cool Christmas presents for us and our kids. Every week they'd mark stuff down and he'd watch. If there were several of them he'd wait until the next week when they'd mark them down again. Eventually he'd buy the item at a fraction of what it would have been retail. We always had the coolest gifts from him.

ImageJan
Feb 22, 2010 7:51 AM CST
Name: Jan Jackson
south Jersey
Yep, save change here, too. We used it to buy gas on a cross-country trip to visit our son on the west coast.

Great ideas!
ImageButterflyChaser
Feb 22, 2010 9:49 AM CST
Name: NancyAnn
Jonesboro Ark
Unique, my sister had one of those big water bottles too. It sat in her living room and guests were "encouraged" to add their loose change. It's amazing how many people can't stand that jingle in their pockets! I can't remember how long it took to fill the big bottle, but when it was full, she had enough money to treat her and my other sister to a week in Vegas. I remember we had a coin-rolling party, with all of us lying around on the floor, counting out the change and rolling the coins. Way back then, they didn't have coin counters like most banks do now, so all coins had to be rolled before the bank would accept them. Thanks for bringing that old memory back by mentioning the water bottle. BTW, I think my sis still uses that big bottle for her change.
ImageUniQueTreasures
Feb 22, 2010 9:56 AM CST
Name: Janet Colvin
Z8~Beaumont~Southeast Texas
Proud member of Cubits.org
Our Coin Bottle is about half full now. I like using the plastic bottle that has a handle.

My father in law once told me about collecting "Parking Lot Change". He would watch parking lots for change. I never thought about doing it until he mentioned it. I've found quite a bit of change on the ground. Especially at Wal-Mart. It all goes into the Coin Bottle and I'm hoping to pay a truck note with that some day! Big Grin
ImageJan
Feb 23, 2010 7:51 AM CST
Name: Jan Jackson
south Jersey
Or a high school parking lot. Whistling
ImageUniQueTreasures
Feb 23, 2010 8:00 AM CST
Name: Janet Colvin
Z8~Beaumont~Southeast Texas
Proud member of Cubits.org
Funny you'd say that because I used to go pick up my daughters and sit there waiting on the bell to ring. Many times I'd find money laying there. I'd get out and pick it up. Kids have no appreciation of coins these days like we did.
ImageJan
Feb 24, 2010 7:08 AM CST
Name: Jan Jackson
south Jersey
I agree
ImageSamigal
Feb 26, 2010 4:15 AM CST
Name: Pegi Putnam
Norwalk, Ca. zone 10b
My sons never did like to keep pennies so I would get them. I really liked to count them out in rolls. But then the banks decided they didn't want to take your pennies either, they will take $2 worth of pennies then charge you for the rest. Needless to say, I won't be taking my pennies to the bank. But, now I am stuck with so many pennies and no way to cash them in. Also when the quarters came out for each state I would save them. I have no idea how many I have acquired, but someday I might need a new computer Rolling my eyes. and they will help me with the cost.
Life is fragile, handle with prayer.
Imagenap
Feb 26, 2010 9:45 AM CST
Name: Nancy
Buffalo NY
How about those Bicentennial coins?? Will they be worth anything in my lifetime? I have no grandkids and never will (I'm fine, thanks) so no one I know will be alive for the Tricentennial. I might as well spend them.
ImageUniQueTreasures
Feb 26, 2010 10:22 AM CST
Name: Janet Colvin
Z8~Beaumont~Southeast Texas
Proud member of Cubits.org
Checking the value of the Bicentennial Quarters, I found this: http://wiki.answers.com/Q/What_is_the_value_of_a_bicentennia...
In circulated condition, 25 cents.

In uncirculated condition, about a dollar.

S-mint silver issues and regular proof issues are worth about $2.00

Silver proof issues (still in original plastic capsule) are worth about $3.00

It is (in mint condition uncirculated) 75 cents unless it is a silver special. Check the edge of the coin. If you have a brown or red line it is a standard copper sandwich coin, if not it is 40% silver and worth more. Most BC coins are double to triple the spending worth in average conditions. Good luck getting triple... The golden rule of collecting: "No matter the worth of an item you will only get what someone is will to pay for it."

Note: There are comments associated with this question. See the discussion page to add to the conversation.
[Last edited Feb 26, 2010 10:23 AM CST]
Quote | Post #79438 (15)
Imagenap
Feb 26, 2010 10:33 AM CST
Name: Nancy
Buffalo NY
What a great answer! Thanks, Janet!!
ImageUniQueTreasures
Feb 26, 2010 10:47 AM CST
Name: Janet Colvin
Z8~Beaumont~Southeast Texas
Proud member of Cubits.org
Google is our friend! HAHAHAHAHA
ImageDutchlady1
Feb 26, 2010 1:01 PM CST
Name: Hetty
Sunny Naples, Florida
My Mad Money is whatever I get selling my plants. I keep that separate, and use it only for purchases for my yard! So hopefully soon my yard can be self-sustaining.
Now that things are tight financially, I feel good that I don't dip into the household funds to make my yard prettier.

I do also pick up change; I'll never forget one day riding my bike and following a whole trail of dimes and quarters... and then going to get a paper from the machine and finding two quarters (enough to pay for the paper) lying by the machine. It was like - it's raining money today!! Drooling
ImageUniQueTreasures
Feb 26, 2010 2:02 PM CST
Name: Janet Colvin
Z8~Beaumont~Southeast Texas
Proud member of Cubits.org
That's neat Hetty! One day I was walking my dog and with each step I took, I picked up pennies, nickles and dimes. I think there was about 75 cents all in all. I was glad I had pockets!
Image3jsmom31
Feb 27, 2010 9:19 AM CST
Name: Dawn
Eastern KY Zone 6
Are you serious? The bank charges you to cash in pennies? That is pretty nuts. How about carry a roll or 2 and instead of breaking a bill, hand them a roll of pennies. It is easier to make change for 50 cents than to count out the correct change. Also, if you stop and get coffee or a candy bar, crack them out. Sometimes all I'll take to the store is change, because it limits what I buy and the cashier is usually gracious about it :).

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