Money Hacks #4 - Keep a Money Jar
This is a series of Money Hacks to help to make extra money by creating habits in your life. Previously I'd touch on a few of these Money Hacks but wanted to go more in-depth and didn't want to produce a 10,000-word monster article for you to read.
This series will only be completed when I run out of ideas to share so make sure you bookmark this site.
Keep a Money Jar to Save More Money
If you're like me, coins don't really have any use anymore except in vending machines.
And I don't have a coin purse so why would I fill my pockets up with weight, just in case I decide to buy something with them, or not.
Coins don't make sense anymore but they can actually be a way to force your savings.
Let me show you how.
Keeping a Money Jar
When you have coins lying around the house, your instinct is to pick them up when you go shopping. But what if they weren't always in the back of your mind and accumulated over time?
Would you miss them?
I'd say no, and this is why the money jar concept works.
Having a place to store your loose change is a smart idea, so grab an old jar and stick it in the cupboard. Then when you empty your pockets or your purse is weighed down with too much change, put those coins in your coin jar.
This concept works well with the pay with cash instead of card principle I wrote about earlier, as when was the last time you bought something and it was exactly $1, $2 0r $5.
Never.
And saving loose change in a jar is forced savings and because it's in the cupboard, it'll be a case of out of sight, and out of mind.
And when it's full you can take it to the bank and get it cashed out as notes.
Extra money always comes in handy at the end of the year and saving money in a jar ensures you'll have a little extra money for those unexpected emergencies.
And let's face it, those coins are a pain in the arse, and as mentioned they are really only useful for vending machines, which you shouldn't use anyway, but more on that later.
Do you use a money jar to ensure you save a little extra money every day?
Image: Pixabay
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