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alternative to a change jar
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November 21, 2008, 10:38:08 AM
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Jen
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« on: January 06, 2006, 02:41:09 PM »

Now that I use my CC and debit card for nearly all of my purchases, I find my change jar doesn\'t fill up nearly as quickly as it used to.  I have come up with an idea: I will go through CC purchases, round them up to the nearest dollar and move the difference to my ING account.  I\'ll do this twice a month - same as savng change, except without rolling coins or driving to the bank.   thumbs up  money
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« Reply #1 on: January 23, 2006, 08:47:49 AM »

Neat idea.  I read on the link to the challenge that some banks actually round up and xfer to savings for you.  

Personally, I still save coins into 4 clear plastic piggy banks.  One each for pennies, nickels, dimes, and quarters.

Quarters are used for laundry, so I get wrappers for free from my bank for the pennies, nickels, and dimes.

When the piggy bank has a significant amount of coins in it I roll the coins and then deposit them.

My last deposit was $9 worth of dimes and pennies.  Not bad for saving a few cents at a time.

Saving change can generate the $ for the $20 challenge.
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« Reply #2 on: January 24, 2006, 06:19:15 PM »

So far this month I\'ve saved about $13.  At this pace I\'ll save over $200 this year, just by rounding up my cc purchases.  I don\'t know if it\'s worth the time I spend adding it up and setting up the transfers - I\'m thinking once a month would be a better plan.    It is interesting how a little bit here and there does add up fairly quickly.
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« Reply #3 on: January 27, 2006, 09:31:13 AM »

BofA had a promotion going with the whole rounding up.  It\'s their Keep the Change program where they automatically round up your purchases for you.  They even match your savings for the first 3 months.  I didn\'t want to go through the hassle of changing  banks though.  I started to round up myself and have saved about $20 (I use my debit card for everything).  

I haven\'t decided if I\'m going to match myself then transfer or what I\'ll be doing with my \"savings\".  I\'m thinking it might good to have in my account for those oops moments.
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