Sunday, February 1, 2009

Turn Loose Change Into a Holiday Savings Acount

So we've all read those articles about collecting your loose change as a painless way to save money. Truth be know, I've always done this, and then every few months I'd cash in the change and deposit it into my savings account.

However, my brother shared this little secret with me. Don't touch the change jar for the entire year. That's the key. He's used his loose change to go Christmas shopping for the past few years and has always managed to save at least $300. In order to prepare for the December 2009 holiday season, you need to start collecting your loose change now. Here's what you need to do:
  • Use bills -- and no change -- whenever you use cash to make a purchase.
  • At the end of each day, dump all of your loose change into a large jug or piggy bank (anything that can hold an enormous amount of coins)
  • When you're ready to go shopping, take your change to the nearest TD North Bank (formerly Commerce Bank). They'll sort and count your change for free (you don't even need to have an account with them).
It's a painless way to get your holiday shopping done! Or, you could use it towards a vacation, new appliance or any large expense. Don't forget those coins you find on the ground, in your car, under your couch cushions...


  1. My birthday is in December. I used to feel torn between spending money on myself for my birthday and spending money for my daughters' Christmas presents, so I started doing this. Last year, I had $300.00 in change just for me.

  2. That's a great idea! My husband's birthday in December, and I know he would love that!!

  3. My husband and I just got married about a week and a half ago. We had to be EXTREMELY frugal for the whole wedding process, cause we're both poor college kids. He works at a coffee stand, and for the past 3 months or so had been saving his tip money that we would typically just spend specifically for our honeymoon. When we opened the pig, I think we had close to $400.

  4. Just a thought...If you take your change quarterly (or monthly if you're going to be there anyway) to the bank and deposit it into a savings account, you'll have even more by XMas because it will have earned interest.