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January 30, 2015: Keep the Change
What are YOU doing with those pennies in your pocket?
With the use of cash declining and the use of credit and debit cards on the rise, people seem to underestimate the value of their change. But studies have shown that families who pool their spare change together can raise thousands of dollars a year – more than enough for a family vacation!
Even if you don’t use cash, you can still tell your bank to round your debit card purchases up to the next dollar and then automatically deposit that into a savings account.
I’ve heard of other families who put other challenges together, like automatically stashing every $5 bill the receive.
And make sure to skip those change counting machines in the grocery store that charge you to count your change. Instead, roll your coins yourself or if you’re not in a hurry, the bank will send it off to have it counted for you. Either way, you’ll be able to quickly watch your coins add up to cash!
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The Family Money Minute is made possible by Operation Christmas Child, who reminds us that by saving money, we can make a bigger impact on the lives of needy children around the world.
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