Is a Big Change Jar the Secret to Saving Money?

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Discussion Overview

The thread explores various personal experiences and strategies related to using change jars for saving money. Participants share their methods for collecting spare change and bills, as well as the outcomes of their savings efforts.

Discussion Character

  • Anecdotal
  • Opinion-based

Main Points Raised

  • One participant mentions using a big change jar to accumulate several hundred dollars, which has been useful for unplanned expenses and vacations.
  • Another participant shares their habit of dumping loose change into a plastic cup, noting that friends have larger containers for their change.
  • One participant recounts a family rule where change could not be spent, leading to significant savings over a year, enough to purchase two recliners.
  • A participant describes how their husband contributes change to their children's piggy banks, which the kids enjoy using to save for toys.
  • Another participant discusses adding both change and small bills to their jar, expressing frustration about family members taking money from it.
  • One participant notes that while they save bills, they are cautious about ATM fees when withdrawing cash.
  • Another participant mentions their strategy of saving $1 bills for miscellaneous expenses and trying to invest larger amounts for interest.
  • One participant describes creating a decorated jar for their kids to save for a Disney trip, incorporating both coins and some of the children's earned money.

Areas of Agreement / Disagreement

Views differ on the effectiveness and methods of using change jars, with no clear consensus on a single approach to saving money.

Contextual Notes

Participants share personal anecdotes and experiences related to saving money through change jars, reflecting a variety of household practices and financial habits.

Who May Find This Useful

Members of the consultant community interested in informal savings strategies or those looking for creative ways to engage children in saving money may find this discussion relevant.

byrd1956
Gold Member
Messages
2,244
Actually we have a big change jar. Every time we get change from dollars we put it in the jar. We have had several hundred dollars before when we counted. Definitely came in handy. We have used it for an unplanned bill and taken it on vacation.
 
The jar is classic. I hate change in my pocket, so I always dump loose change into a big plastic cup. I've been to a few friends houses where they are filling a gigantic jug!
 
And it works! My Mom & her hubby made a rule once that they couldn't spend change. Even if they were shopping & it came up to $__.01, they couldn't hand the cashier a penny, they had to let her give change. At the end of the day, they would dump their change into this HUGE freaking plastic water bottle (the type that goes upside down on commercial water dispensers). At the end of the year, they had enough to buy 2 recliners for their living room! Over $800!!!
 
When Hubby's here (not in Japan) he's good about dumping his change into the kids piggy banks. Then I'm pretty good about going there for change for the car wash ... when I take out a $1 in quarters, I put a $1 bill in an envelope with their name on the front. We've also let them dump out the piggy banks, take their change to the bank & drop it in the coin counter. They think that's so much fun! Then they get to take their bills & go shop for toys. For ages 3 & 5, that's a HUGE treat! ;)
 
I do that with change and sometimes with bills - if I have a few ones or even a $5 in my purse I'll throw it in the jar. My jar would be more full if DH would quit digging into it to get pop at work!
 
wadesgirl said:
I do that with change and sometimes with bills - if I have a few ones or even a $5 in my purse I'll throw it in the jar. My jar would be more full if DH would quit digging into it to get pop at work!

Bills work as long as you don't get hit with ATM fees trying to get more money :)
 
Admin Greg said:
Bills work as long as you don't get hit with ATM fees trying to get more money :)

I usually don't take the money out of ATM's. I'll grab some cash when I need it after using my debit card at checkout. Or if a guest pays in cash, I will pocket the $1 bills.
 
wadesgirl said:
I usually don't take the money out of ATM's. I'll grab some cash when I need it after using my debit card at checkout. Or if a guest pays in cash, I will pocket the $1 bills.
Yeah I usually horde $1s for misc. Anything bigger I try to get into an account that earns interest. Gotta makes that money work for ya!
 
I got a jar for the kids and some Disney character stickers. They decorated the jar with the stickers, and that's our savings for a Disney trip. We don't have a lot of cash useage in the house, but when we do have some random coins or dollar bills, we'll throw them in there. And sometimes the boys put in some of their earned money in there, too.
 

Frequently Asked Questions

What is a Big Change Jar?

A Big Change Jar is a simple savings tool where you collect spare change or small bills over time. It encourages saving by providing a physical container to store your money, making it a visual reminder to save.

How does a Big Change Jar help with saving money?

The Big Change Jar helps you save money by allowing you to accumulate small amounts of cash that might otherwise go unspent. Over time, these small contributions can add up to a significant amount, making it easier to reach savings goals.

Can I use a Big Change Jar for specific savings goals?

Yes! You can designate your Big Change Jar for specific savings goals, such as a vacation, a new kitchen gadget from Pampered Chef, or an emergency fund. This targeted approach can motivate you to save more effectively.

What are some tips for maximizing savings with a Big Change Jar?

To maximize savings, consider adding any loose change you find, rounding up purchases to the nearest dollar and saving the difference, or setting a weekly or monthly goal for how much to contribute. Consistency is key!

Is a Big Change Jar the only way to save money?

No, a Big Change Jar is just one of many saving strategies. Other methods include budgeting, using savings apps, or setting up automatic transfers to a savings account. Combining multiple strategies can enhance your overall savings plan.

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