Although you may use your credit card often, you still probably have loose change in your wallet. Or maybe it’s in your pocket or trapped between the couch cushions.
What do you do with this change? Does it just sit there, collecting dust?
You’d be amazed at how quickly that change adds up to equal big savings.
Saving that money all starts with a change jar. By putting your change in a jar instead of letting it sit in your wallet, you’ll see it add up quick!
Here are five great reasons to start using your own savings jar today.
You know the item we’re talking about: maybe it’s an expensive pair of shoes or a kitchen remodel or a new TV.
If you’re pinching pennies, it may feel like you’ll never afford those items. You may ask for them for your birthday or Christmas, but the other people in your life balk at the price, too.
While you should certainly watch for sales, if you’re in it for the long haul, you can eventually save up for that big-ticket item you’ve always wanted. This may take upwards of a year (depending on the price), so patience is definitely a virtue here.
The holidays can be a pricey time. You have to buy gifts for everyone on your list, from family to friends to coworkers and even your mail person.
By the time New Year’s Day rolls in, your wallet could be depleted. If a friend or family member’s birthday comes right after, you could be wondering how you can afford a gift.
Each day or week, put your pocket change in a jar. Over a few months, you could have between $20 to $100 in there. That’s certainly enough for a last-minute holiday or birthday gift.
You’ve surely heard of the rainy day fund before. This is intended to pay for a rainy day, or an undisclosed future date when you need the extra cash.
This doesn’t always have to be a serious fund. A rainy day fund can be for a day of fun that would have otherwise been boring.
Rainy day funds aren’t often a significant sum, just a bit of cash socked away for when you need it.
You never know when your car might break down, your refrigerator might stop working, or your basement might flood.
These expenses can be astronomical. If you’re not prepared for these emergencies, you could spend months living frugally as you pay for the damages.
This is exactly what an emergency fund is for. This extra money can cover most of (and sometimes all of) the cost of your broken appliance/car/etc.
Don’t you deserve a vacation? Sure, but who can afford it?
Well, it turns out, you can. That change jar can sure come in handy if you’ve been eager to get away.
Again, you will have to spend some time saving (sometimes a year or more), but won’t those days in the sun be worth it?
Don’t stop being smart with money now. Check out CreditZipper. By checking your credit score and having a change jar, you can get your finances in order.