As the saying goes – ‘look after the pennies and the pounds will look after themselves’ – this is my inspiration for my savings challenge. I am going to save my change and see how much I have at the end of the year.
For Christmas I got a lovely new purse. It was one I had picked myself way back in July. It was more expensive than previous purses I had owned but I fell in love with it. So, away it went until Christmas, just so I could justify the purchase 😉 Every time I use the purse it puts a smile on my face and reminds me of Barcelona (which is where I was when it was bought). The only downside is that it doesn’t hold very much change. So whenever I get more than a few coins I have to empty them out, otherwise I can’t zip it up! I was amazed at the amount of small change I accumulated.
I have rescued a couple of glass jars from the recycling and a plastic tub that originally held bubble bath and a sponge. I will be saving 1p, 2p, 5p, 10p, 20p and 50p.
If you want to join in, you could just use one jar and throw all the coins in together. I want to separate mine as I think it will make it a lot easier when it comes to counting up how much we have saved.
You could, of course, choose to use a Coinstar machine which you can find in a range of supermarkets. These allow you to take any amount or denomination of coin and literally tip them straight into the machine. This machine then counts the coins for you.
Cash or Donation
You can choose to be issued with a voucher, which you can take to customer services and change for cash, use it to pay for your shopping or choose to donate the money to charity.
There are a range of charities that will benefit from your donation via Coinstar:
Children in Need; Red Cross; British Heart Foundation; Cancer Research; WWF; The Children’s Society and UNICEF.
Coinstar does charge you 9.9% for this service though and 7% for charity donations.
As I am doing this to save money, I will be counting the coins and taking them to the bank myself. I have already collected some change bags from them. These tell you clearly how many of each coin you need to have in each bag.
Here’s a picture of the empty containers at the start of my challenge. I hope to have pictures of jars full to the brim at the end of the year.
Along with my money making efforts this year, I hope that this will amount to a small pot of money at the end of the year to be put towards one of our future travel goals.
Do you have something you could save your change towards?
Other posts from Money Saving Journeys: