The other day a colleague was complaining about the amount of change that he always ends up with in his pockets or wallet and how much of a frustration it is to him. His solution to his little problem is to buy something small just to get rid of it and most of the time it turns out to be something he doesn’t need.
His little annoyance of too much change is actually an opportunity to save money. What I suggested to him was that instead of spending it on something he doesn’t need was to go back to basics and do something most if not all of us have done in the earlier years of our lives, have a piggy bank (some people chose to call it a collection jar or coin bank or coin jar or coin box – for this post I will stick with piggy bank). After making the suggestion I instructed him to just empty out his wallet and pockets of any spare change on a regular basis and when the piggy bank gets full, to exchange the coins for notes at his bank or deposit it into his savings account.
This in my opinion is something that is so easy to do and if you are someone who always has change that you just want to get rid of, it could amount to hundreds of dollars over a period of time.
As far as setting up something to deposit your money into, you can either go out and buy something or be a bit more frugal and tape up a shoebox like I did and cut a small hole in the top and bob’s your uncle!