This article goes over a common savings technique often overlooked. Do you have common cents?
A few years ago, it would have NEVER occurred to me to save my coins. They would usually end up between my couch, on my bedroom floor, in the car’s ashtray, under the car seat, or in a soiled McDonald’s fountain drink cup held by a homeless man on the street. One day, my girlfriend got fed up with all my loose change everywhere in the house and she finally bought me a piggy bank. Yes..a piggy bank. I don’t think I’ve seen a piggy bank in over 15 years! It was a pink plastic piggy bank slightly bigger than the one she got me.
I now had no excuse to leave loose change everywhere (I was forced to use it!). I started depositing coins into the piggy bank from day one. It made a “clanking” noise every time I put money in there and sounded very hollow. As the weeks went on, I made a conscious effort to keep all my loose change in my pocket until I got home. The piggy bank started to sound less hollow every time I slipped the coins inside. I noticed a few things after about a month or so:
1) I Love Coins – Most people carry coins with them to get rid of them. If they purchase an item that costs $10.38, they’ll look for 3 pennies so they don’t get 2 pennies back. Whenever I would go eat lunch with a co-worker, I would donate my spare change to them so they wouldn’t have to break up their valuable bills. Not anymore! I actually started to enjoy carrying coins in my pocket. I couldn’t wait to watch all these coins go into the piggy bank!
2) Hey Look! It’s a Penny! – You’re walking on the sidewalk and you see a coin on the ground. What do you do? Thought so. Most people would just walk away. It wasn’t worth their time to take 2 seconds out of their day to pick up a penny (or if you’re lucky, a nickel!). Everything started to seem like a game to see how much I could save up.
3) Excitement – Every time I would put money into my new piggy bank, I was always curious to see how much was in there. I would actually count how much in change I deposited and keep a mental note of what the balance is. The best part is when you have a pocket full of quarters. This also taught me how to live frugally and learn to save money. Can’t beat that feeling!
Saving my coins have strangely become a habit of mine every since I got this piggy bank. This jar is almost full, how much do you think is in here?