Saturday, June 7, 2008

Saving your coins for your better future

Have you ever thought- 'Hey I have 1 dollar in my pocket' and then spent it? Just because it was a dollar coin? Well, yeah of course you have, we all have. But here I've experimented with a ‘money saving tip’ and found that it works like magic. If you follow up with this post's recommendation, you won’t regret.

For the next 2-3 weeks, every time you get change-save it. When you get home every night put it in a penny bank so you are not tempted to spend it. This way you will also not have to worry about your pockets getting heavy. At the end of the 2-3 weeks empty out your penny bank and see how much is in it (I say 2-3 weeks because its a good starting point, but the longer the better). Let me guarantee you that if you really did keep almost all the change that came into your hands, you wont be disappointed.

This extra cash that you obviously didn't NEED to spend can help pay for your bills or can help you save up for that new laptop or T.V. you've been looking out for. You'll find it becomes somewhat of a habit after a while.
I tried this over the course of about 5 months and accumulate a decent sum considering I am a student living off allowance from my folks. I saved up over $200. I don't mind saving up that extra $200! I personally use this money to invest in stocks. But what you do with yours is up to you. If you are interested in stock investing check out some of my other posts on the topic.

Try it and give me some feedback!

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