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MYellowRose
08-30-2008, 12:11 PM
I started saving both my dollar bills and my change yesterday. Last week I bought a small decorative can at a GoodWill that I will use as a bank. So far I've got almost $10 in it from yesterday, I'll add more this evening after I pay my bills as I intend to put what's left in the can. I'm hoping to put away anywhere from $20 to $100 a month.
Anyone here do anything similar?

WileyCoyote
08-30-2008, 12:22 PM
We have a 5 gallon water jug that we dump our change into whenever we come home. Over the years it has proved very helpful; we rolled change that paid for a week's worth of camping, and when we have been severely broke we poured it out and rolled it for gas to get to jobs. My daughter remembers it well growing up; she tells folks that without our habit, she never would have learned the value of treating every dime, every penny, as if it somehow had a hopeful future purpose. As an adult, she has a "penny jar" too; and she puts her change in it when she comes home.

Three years ago hubby signed on with our bank in a "keep the change" savings program; he has over a thousand dollars in it just from the bank rounding up the change on debits and checks to a whole amount, and depositing the 'change' in a savings account - even after a few emergency withdrawals.

It's all very well to tell folks to "save six months salary" when you make six figures; not so easy when you only make four or five minimum figures! Any start to a good habit is worthwhile - and can influence others more than you know.

ryanmercer
08-30-2008, 08:22 PM
Just remember... pick out those pre 82 pennies for their copper value :)

Despite the fact melting them down has been illegal for a few years...

http://www.usatoday.com/money/2006-12-14-melting-ban-usat_x.htm

12-14-06 WASHINGTON — People who melt pennies or nickels to profit from the jump in metals prices could face jail time and pay thousands of dollars in fines, according to new rules out Thursday.

Soaring metals prices mean that the value of the metal in pennies and nickels exceeds the face value of the coins. Based on current metals prices, the value of the metal in a nickel is now 6.99 cents, while the penny's metal is worth 1.12 cents, according to the U.S. Mint.