A lot of people are watching their weight and don’t need to eat cookies! So why not take that old cookie jar that’s lying around and put it to good use? Take all the spare change that accumulates and drop it in that jar. In fact don’t just put spare change in there, gather coins from anywhere and everywhere to go in the stash. Then by the end of the year, count it all out, and invest! The amount that savers will generate can be astounding.
How to Save Money with a Cookie Jar
First, take all the loose change from wallets, pockets, drawers around the house, and drop in that old cookie jar in the pantry. Then simply watch it grow for the next 12 months. But this is not just a passive activity! Take an active approach to collecting change. At the supermarket, dry cleaner, even the corner coffee shop. Collect those quarters, nickels, dimes, and yes, even pennies!
Some savvy consumers start stashing extra dollar bills and even fives and tens into the jar. Of course, those add up faster, and once the savings bug hits, this practice can become addictive. It doesn’t hurt to imagine all the money years of savings can generate.
What to Do with all that Cash at the End of the Year
Now that a wad of cash has accumulated in the cookie jar, and the lid is barely able to stay on, it’s time to do something with the money. First, call banks and find the best rate for a savings account. Even switch banks if necessary. Or, for savers who have been particularly vigilant during the past year, a certificate of deposit might be a smart option. And for those who haven’t accumulated enough for a CD, watch those savings grow in a savings or money market account, and then when there’s enough, switch to a CD. Sometimes money markets pay as much as CD’s and the cash isn’t tied up. Also, if interest rates look to be on the upswing, keeping that investment liquid in a money market isn’t a bad idea.
Finally, Bask in the Realization that Saving Really Felt Good!
It takes patience, but even a little savings can amount to big rewards, in terms of personal accomplishment. Now go for bigger and better investments. Plan for some major life goal that could be years away, and start saving now!
Six Tips for Saving Money
There really is no point in having money if it cannot be used, but it is necessary to put cash aside for unpredictable times and to alleviate the impact of spending during vacations and holidays. Designating times to spend money is just as important as saving money. The following household budgeting tips are easy-to-follow guidelines for increasing one’s savings.
Household Money Saving Tips – Start a Rainy Day Fund
Save money to contribute to a rainy day fund. Life is unpredictable, and loose change and extra dollar bills can greatly contribute to one’s savings.
Put change in a jar. Most people do not appreciate spare change until money gets tight. Pennies are often forgotten and left in pant pockets, on dressers, or even on the floor. Instead of throwing loose change aside, find a beautiful vase in which to throw all change, including quarters.
Collect dollar bills. The older U.S. money has big letters on it denoting where it was made. Choose a certain letter to collect. For example, if one’s name starts with “D,” that person may wish to collect every “D” dollar and throw it into the rainy day fund vase.
Household Budgeting – Saving and Spending Periods
Designate the first six months of the year as a saving period. Do not spend any money except for necessities such as food and toilet paper. Refrain from dining out and buying knickknacks and other unnecessary items.
Use the last six months of the year to buy school clothes and holiday gifts. Enjoy occasional restaurant dining and other activities. This is also a good time to take a vacation. Spending the first six months saving money will ensure that there is a lot more cash for doing these things.
Financial Budgeting – Save Money on Cars
When buying a vehicle, opt for used vehicles instead of new vehicles. According to msmoney, new cars depreciate by about 40% within the first three years. Sales tax can be avoided by buying through a private owner rather than a dealership. One may also save money by acquiring lower financing costs and lower insurance costs on used vehicles.
Drive the car for 10 years. Rather than buying a car every few years and consistently paying on a loan, pay the loan off and continue driving the car. Make a goal of driving the vehicle for ten or more years. This allows for saving money by not paying interest. It also allows for getting the most out of a vehicle for the price paid.
Implementing these rules can help save a lot of cash. It is easy to throw change into a jar on a daily basis, and rewarding to count the money after a long period of time. Buying and selling cars is not something that is usually done on a whim, so it is easy to remember the goal of driving a vehicle for 10 years.
The hardest part is curtailing spending for the first six months of the year. Finding other activities to replace shopping and dining can make this process easier.
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