Putting your extra change into a jar, thinking this is a great way to save money. This is not always true, you might be losing money. The classic money jar has been a way for our family to feel we always have a backup plan. We always empty out your pockets and put all coins into jars. When the jar is full we start a new jar. This is a easy way to find an extra $300bucks for Christmas and not feel the pinch, or great for something unexpected.
As for the penny... spending them a little at a time is better then having Jars full of them. As much as I like to save, I also like to save money by spending my penny's. When we hold onto a bunch of penny's , counting out your change jars will look like a chore and like most people the money counting machine starts to look tempting. The fees for coin counting machines are about 9% thats maybe $36 in fees for your $400 in spare change.
3 comments:
So are you saying I should only put silver coins into jars and use the pennies up as I get them? I think that is good advice from you who have the experience.
Only save the silver, You will be happy when you spend all your lucky pennies!!
I remember YEARS ago Oprah had said this will actually save you a good chunk of change like you said!
Yeah, I'd just save the silver too.
LOL!
I was never really into watching her show but I think it had to be in the mid 90's?!
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