Living

Smart Home: Rolling the Change, Saving Money the Traditional Way

Empty your pockets and what do you find?? Better yet, empty your purse! As a mother, all sorts of things cram every crevice of our pockets, whether in our pants, diaper bag or purse! We could all be very successful in Let’s Make a Deal … remember when the contestant would get $100 for having a nail file!  Now think of the number of coins you find lodged between gum wrappers and coupons in your bag.

Today I want you to think about those pennies, nickels, dimes and quarters that you find in all those pockets.  What do you do with them at the end of the day, while doing laundry or switching out purses?  In our Smart Home, we have 4 separate containers ready to receive the change.  Two traditional piggy banks collect the pocket change in our bedrooms and a non-traditional 5 gallon water container sits next to the laundry machines.

The Laundry Bank

On our kitchen counter a digital change collector (got it on sale at Macys earlier this year) sits just next to my husband’s “key bowl” .  This tremendously increases the chances that the random coins will go from point A, his pocket, to point B the change collector.

   Each day we typically deposit no more than a dollar in coins collectively into the banks.  We don’t really think much more of it.  Recently, I asked the bank teller for some paper rolls. My husband has been anxious to see how much money we’ve actually saved from this easy saving account.  He sat there for about an hour smiling for much of the time, counting and rolling the pennies, nickels, dimes and quarters.  Much to his amazement, and mine, he discovered that just a portion of the kitchen “bank” had already summed to over $100.  Wow! That’s 2 week’s worth of gas or a trip and a half to Publix!

Thinking of how our smaller kitchen counter bank was able to save so much, what could the 5 gallon container have already saved?  Well that’s for another day, and a lot more paper rolls!

Smart Mama Next Steps

Counting the Money

  1. Consider what you do with the loose change in your home.
  2. Come up with a plan on where to save it.  Repurposing water jugs, coffee cans and other large containers are all great ideas.  Kids may have fun decorating the containers too!
  3. Have a goal.  In our home 3 of the containers are vacation funds for the following year, while Isabella’s is for a new toy of her choice.  Invite the kids to label the jugs with their goal(s)!
  4. Decide the frequency of counting the change. Don’t do it too often because the increase in funds will not be as apparent.
  5. Position the change collectors in spots that tend to bring out the most amount of change.  I have them placed in bedrooms, laundry room and kitchen.  Maybe the car should be my next one!
  6. Gather the resources such as paper rolls from the bank for the day you count your money!

What’s your current change collecting strategy?  How has it worked? Not worked?

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16 comments

  1. MommieKate 2 August, 2010 at 09:29 Reply

    I have a piggy bank on the kitchen counter. We have a bowl for keys and stuff too! That’s a great idea about keeping a goal. We haven’t decided what to do with our savings.

  2. Jennifer 2 August, 2010 at 12:16 Reply

    Love the idea of leaving a piggy bank next to the key drop location to collect spare change. Not sure if you have a TD Bank near you, but they have a FREE machine that you dump your change into and it counts it and then spits out a receipt that you bring to the teller for your money. Much faster than counting and rolling yourself and they have a kids’ level machine for them to get involved; my 3 love it!

  3. Dawn 4 August, 2010 at 10:07 Reply

    It has been a few days since I have read this article about loose change. I have placed jars in almost every room and can’t believe how much we have already collected. This will definitely become our “visit home” fund! I will keep you posted on how much we actually save!

    • admin 4 August, 2010 at 21:34 Reply

      I LOVE that you have tried out this Smart Mama move! I know a “visit home” fund will be very motivating for you!

  4. Fern 6 September, 2011 at 03:23 Reply

    I still used this way of saving money. I just find it amusing watching my money grow as I put it in a piggy bank. I feel excited every time I drop coins to it. 😀

  5. janinagirl 20 September, 2011 at 04:28 Reply

    Wow if I can only send you mine too. Every time I sweep the floor and on the pockets of my 3boys(including Mr. Hubby) I placed it in an old bottle my grandma gave me. The three boys never mind about it until it was already full and they were the one who really gave time counting it. and alas a treasure have been found! It reach to 200 peso, exactly the price of a half gallon premium ice cream! Without much further ado off they go in a motorbike to the nearest grocery store.

  6. reelsteel06 18 October, 2011 at 09:03 Reply

    We don’t really think much more of it. Recently, I asked the bank teller for some paper rolls. GREAT! | 😛

  7. fab0506 24 October, 2011 at 13:23 Reply

    I still used this way of saving money. I just find it amusing watching my money grow as I put it in a piggy bank. I feel excited every time I drop coins to it. | 😛

  8. darknight0506 8 November, 2011 at 09:16 Reply

    The three boys never mind about it until it was already full and they were the one who really gave time counting it. and alas a treasure have been found! | 😛

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