Don't know if this would count as a true savings plan, but this is one way I set money aside.

Anytime I buy something, I pay cash. No matter what the amount is, I only use bills. The change goes into my pocket, at the end of the day into a cup, then when I get home I dump the cup into a 5 gallon jug.

Even if I buy something that is, say, $12.01, I'll hand the cashier $13.00 and pocket the $0.99 for depositing into the jug eventually. Even if I've got a pocket full of change, I only pay with bills.

One week, 5 days, I had over $50 in change that I put into the jug.

BTW - that 5 gallon jug is about 1/3rd full now and can barely lift it. I can't wait to see how much is actually in it.

I do the same thing. I have had a couple of hundred dollars just from filling a couple of normal sized cashew containers. It can add up fast.

I do same thing here but mainly use debt card for stuff.

I do the same but use old coffee cans. Have several of them and never bother to count it :roll:

I went on a trip to Vegas with my change. I did the same thing, empty the change out of my pockets everyday. I also played this card game every week that we played with quarters. I would usually consistently win something every week and take all the quarters I won and combined it with my everyday change. My friends parents were planning a trip to Vegas. They were kinda sorta high rollers, not that high, up near here in Niagara Falls. For limo's to and from the airports, airfare, and 5 day room at Caesar's I needed $300, which was and awesome deal. I only had $500 cash extra so I decided to use my change. I hand wrapped all the quarters and ended up with about $650, then took my dimes,nickels and pennies to one of those counting machines and ended up with about $210 after the %8 fee it charges. Add that to my cash had enough to go. My main reason to for going was to rent a car in Vegas to Drive to Southern CA to see my Grandmother who I hadn't seen for 13 years. I spent 2 days with her and then drove back to Vegas and proceeded to lose the rest of my money. Anyways that's my change story. I haven't been saving change since then though. Not a bad vacation though considering it was paid for with mostly change.

This is better than saving no money at all. The only problem I see with it is the dollars inherent propensity to lose value over time (or a curve). The so-called "under the mattress" savings plan has it obvious short comings. It works fine if you are planning to save up a small sum and then buy something with that that is an asset and not a liability. An example of an asset would be to buy your own big rig, which you could make more money with being under your own operation. An example of a liability would be a nice sports car which looks nice, might get you more dates but in the end is liability (money is always going out, not in.)


The only way that the under the mattress savings plan works to your benefit is to not wait too long to purchase an asset with it. Otherwise you will be working harder to save more to buy less. Whereas the quicker you are able to save up and buy the asset (invest) the wuicker you will see a return on your money and hopefully a big enough profit that not only sustains you in the future but allows you to buy that sports car as well.

However, stashing money away today with no appreciation on its value in hopes of amassing enough to sustain your long term future needs is problematic. Your money does not keep up with inflation nor does it mantain its current market buying value. The longer it stays under the mattress the more it losses its value and the less it will buy in the future. So, if you can invest your savings safely (not always so easy to do) with little or no risk you can at least maintain your moneys current market buying value.

I do the same thing.

same here. fiancee can't believe how much change I bring home each time.

We do the samething, it does add up quick!

Money sitting in a jar isnt working for you, its just sitting there. You need to use that money to make more money. What you need to do is about once a month take that change and put it in some sort of safe mutual fund. By the time you retire you will be sitting quite comfortable.