Coin Jar

   As simple as it sounds, you may be overlooking one of the easiest ways to save money. An at home piggy bank. A mason jar, 5 gallon water drum, a bucket, a wine jug, an actual ceramic pig, whatever you prefer. Toss your spare change in the container and forget about it. When I was growing up, my dad kept a 5 gallon drum - his coin jar - in the corner of his closet. Whenever it got full, he would let me roll the coins in little paper cylinders to take to the bank. He always gave me a percentage for helping him roll the money. And to teach me about savings. And here I am. Blogging about savings.

Rules:

   1. Keep your coin jar in a common place in the house where everyone can contribute.

   2. Determine how long you will save your coins. One year. 10 years. Until retirement. You choose. The key is to NOT TOUCH IT until then.
   3. Decide what you will use your coin savings for. A new car down payment, a home project, a new wardrobe, paying off your credit card. Ian and I cashed in our coin savings the year we got married and used it for spending money when we visited our friends in Alaska. It was only $200, but it sure helped! I heard about a guy who started his coin savings when his son was born. By the time the boy was 18, the father had saved enough to pay for the son's college tuition! That really puts things in perspective - especially for those of you with young kids.
   This project is not a catch all bowl on your coffee table that you give and take from regularly. It is a savings project. Empty the coins in your pocket/change purse on a daily or weekly basis with the purpose of saving it. If you're tempted to take quarters from it to pay parking and tolls, then make the opening only big enough for coins to go in and not out. Pick a container you can break open when you reach your goal in time. This will help keep you accountable.