Saving Money?

iVillage Member
Registered: 12-20-2003
Saving Money?
11
Thu, 12-30-2004 - 11:04pm

I am writing to see if anyone saves money using a "jar"?

I am asking because lately I have talked to so many people who say "Put extra change in the jar and you'll be amazed at the end of the year!" etc. etc.

Well, the ideas have been various: a jar for my kids college, a jar to "snowflake" my own college debt, a jar to save for "fun events", a jar to save for a family vacation, etc. etc.

So I can't very well have 5 different jars going can I? Then NONE of that will be that dramatically impressive. So how does one choose the one thing they will save change for.

(I ask because my mom and her partner and funding a $5,000 vacation this coming summer purely by using money they collected by redeeming cans/bottles they found while taking walks the last 4 1/2 years!)

So, what system do you use and how do you decide what goes where and how much?

Thanks!
~Kiya

Pages

iVillage Member
Registered: 09-22-1999
In reply to: kiya3s
Fri, 12-31-2004 - 6:03am

Dear Kiya,

I use a plastic juice jug, and I think I really put my change in there because I just need a place where it won't get lost in the house and in my pockets on my clothes and in my purse.

I try not to let the jug fill up for too long. If I think I have enough of one type of coin to roll up and bring to the bank, I do. This money goes to whatever is pressing on my mind at the time. I wish I could say I was using this change for savings, but I have had to pay bills with it lately, but it definitely helps. A couple years ago, it was going into my retirement savings. I hope I get back to that point.

You CAN have 5 jars going at the same time if you want to for whatever "causes" you think need a "jar"....You can divvy up the money in so many ways. You can be mathematical or....:
---Put the change from Mondays in one jar, Tuesdays in another.....
---You can divide up your change based on the dates on the coins: 1970's for college, 1980's for snowflaking, etc...
---Dump out your pocket change on the table...heads in one jar, tails in another....

Whatever works (and hopefully is fun) for you should be fine!

Happy New Year!!!!!! Littlesbigs

iVillage Member
Registered: 12-05-2004
In reply to: kiya3s
Fri, 12-31-2004 - 8:45am


We use a general jar for everything. Then when the jar fills (just a quart size mason jar), we decide what to use the money for.

My son uses a jar for his savings too. He used to use a toy bank, but he couldn't see his money "grow" that way. Since he's young, we give him money based on what he does around the house. If he cleans up his room without being told, then he may get .50 cents. For a good deed of some sort, another amount. Then he just saves up his coins in his jar until he thinks he has enough for a toy, and we turn them in. :-)

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
In reply to: kiya3s
Fri, 12-31-2004 - 9:38am

If you want to, you CAN have 5 jars going - actually that is sort of the Freedom Account concept - and/or the one used in Carol Keffe's "How to Get What You Want With the Money You Already Have".

iVillage Member
Registered: 03-27-2003
In reply to: kiya3s
Fri, 12-31-2004 - 10:42am

We have two jars going on at once, on jar is a Tim Hortons can that isjust money that we snowflake and we have a stuffed toy piggy bank that my mom gave my son when he was born, mostly our small bills and change goes into here, plus any money I find in the laundry. this money gets collected and we take it to the bank and it goes into an account for my son.

kiki

Running Woman
iVillage Member
Registered: 07-26-2004
In reply to: kiya3s
Fri, 12-31-2004 - 3:59pm

That's really a weird coincidence - just two months ago, I started saving up dollar bills, too, just to see if I'd notice. Although I had to raid it for the holidays, it did make up a nice little bundle!

I'm planning on starting again...in fact, I think I have a single in my purse...I'll go throw it in the pig now. :)

iVillage Member
Registered: 04-21-2004
In reply to: kiya3s
Sat, 01-01-2005 - 8:38am

Ok, this is terrible, but I have to laugh.... I also used to save dollar bills. (and plan on doing it again...) i took them to a bank where I used to work to deposit them. One of the tellers I used to work with took my deposit. And you know what she said when she saw the huge stack of dollar bills??? she said "oh my gosh, kel, have you started dancing?".... as in exotic dancing!!! ah! I was so embarrassed, but I couldn't help but laugh. the girl was always a bit ditzy.. It's just funny that she didn't think I was waitress first!!

now, of course, there is nothing wrong with a being an exotic dancer(hey, if I had the body..._) but it's not for me!!

kel

iVillage Member
Registered: 12-20-2003
In reply to: kiya3s
Sat, 01-01-2005 - 10:15am

LOL! That's funny!

I have a friend who used to dance at this really nice place (not shady at all, very classy) and she made over $500 a night! She did end up leaving to go to school, as she realized that this was not a job she could do forever (like modeling, you all have a sell-by date!) BUT she did it long enough that she was able to get a REALLY nice house for her and her daughter and paid her way through school with NO loans! Grrrr...

I don't think I could do it though. I think I would grow very cynical of men very quickly and I would get frustrated that no one had a clue how *smart* I am! :) It's not like you can very well discuss the rise and fall of the Roman Empire while doing a lapdance. But if any of you know men who are into that, send them my way! :)

~Kiya

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
In reply to: kiya3s
Sat, 01-01-2005 - 11:45am

That last paragraph just cracked me up!!!

Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
In reply to: kiya3s
Sat, 01-01-2005 - 12:05pm

I have three places to stash money.

Sarah
iVillage Member
Registered: 12-27-2004
In reply to: kiya3s
Wed, 01-05-2005 - 9:06am
I just started saving change last week & I dumped it out yesterday & counted it....in one week I already had $13!!!! Just in loose change, & I did put in 2 dollar bills. Any paper money is fair game for whatever may come up, but the "silvers" are off limits until the end of each month, when they'll go into my savings account.

Pages