Set Money Aside and Start Saving Those Coins!

Now that the financial crisis is gradually hitting main street it is only a matter of time that all people will feel in their wallets. Business will go under and many jobs will be lost. If you where smart you already have build an emergency fund, but if you didn’t, now it’s the time to set money aside!

But how can you save money when you have less to spend? We don’t say that it will be easy, but it is possible to save money on every budget.

Of course you can start saving money on every day things, such as bringing your own coffee, instead of buying those expensive cups of coffee from for example star-bucks.

You can of course save money on many other things in and around the house. Take a look at our 103 money saving tips post, maybe you’ll find a tip that you can apply in your situation!

But there is one thing that everyone can do and that is saving money by saving a coin at the time. One coin at a time? Yes, it is an easy and old concept. After coming home for the day, you simply empty out your pockets and put the coins into a jar. When the jar is full, you take it to your bank, have the coins counted and place the money into your savings account. If you do this every time you have coin change, the money can add up very quickly.

Tip: many people who are doing this wait until the jar is full, but you should put it on savings account if you reach a certain amount (for instance $50 or $100.) Why you may ask? Because you don’t get interest from the jar. You will however get it from a bank!

We know that you won’t save thousands of dollars this way, but every dollar you save know, can help you when you really need it. So set some money aside today by putting those coins in a jar.

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