Do you have a coin bank?

Philippines
July 12, 2008 8:01pm CST
I do have four coin banks at home. One is for 10 peso coins, another for 5 peso coins, the other for 1 peso coins and another for 25 centavo coins. At the end of everyday, I have so much coins in my purse. I would drop them in my coin banks. At an average, I get to earn a total of around 2,500 pesos (about $56 based on current exchange rate) a month just by dropping some coins in those coin banks daily. Then at the end of every month, I would deposit the money in the bank so I could start filling the coin banks again.
10 people like this
42 responses
@rookiekan (882)
• China
13 Jul 08
yes,i have one coin bank,it's a birthday present from my friend,i drop all coins into it,so i am now sure how much money i have in this coin bank,i only take some coins when i need to take bus,except that,i never touch the coins in the coin bank,i wish i could accumulate more coins for my kids in the future hehe.
• Philippines
14 Jul 08
I am sure you will be able to accumulate more rookiekan!
@joliefille (3690)
• Philippines
13 Jul 08
I had a coin bank before. I used an empty C2 plastic bottle for my 10 centavo coins and an empty hot oil treatment round container for my 5 peso coins.
2 people like this
• Philippines
14 Jul 08
That's great! Were you able to exchange your 10 centavo coins into bigger denominations?
1 person likes this
@faith210 (11224)
• Philippines
13 Jul 08
Hi dolce_vita78! That is very good habit my friend. I used to have coin banks before but I don't have one at the moment since I don't even have extra loose change or coins anymore. haha..I spend them all and there is nothing left to save at the end of the day. Yikes! Take care and God Bless!
1 person likes this
• Philippines
14 Jul 08
oooppss...
1 person likes this
@faith210 (11224)
• Philippines
14 Jul 08
haha..
@neildc (17239)
• Lapu-Lapu City, Philippines
14 Jul 08
Ever since I learned about piggy banks or coin banks, I tried to save. And that especially when I was younger. But now, I have no idea about my coin banks. They won't last long. I was never successful with coin banks.
2 people like this
• United States
13 Jul 08
I think that is a good idea for I do this myself here where I live. I put all my loose change into a plastic bucket in my bedroom and let it accumuilate. I will dump it out every so often and count it. The last I counted it there was $23 dollars even in change in there but I want it to accmuilate more befor I go and deposit it into my son's saveings account. Yes I give all my spare change to his account for I have two accounts of my own a checking and a saveings then I opened a saveing for him seperate from mine so he'd have his own account. He loves the fact I do this. I have plenty of money in my two accounts alone that I want to see his gain. I will start refilling the bucket up again and repeat the process when it's time to.
1 person likes this
• Philippines
14 Jul 08
It's nice that you consider having the money deposited in your son's account. I think that is very cool!
@iskayz (5420)
• Philippines
13 Jul 08
Hi there!Wow thats a lot of coin banks! I used to have a coin bank too when I was a kid. But I use the money for buying things. Just small things to treat myself. You know how kids are hehe. Even just one candy that I'm able to buy from my own savings really makes me proud of myself. But when I grew up forgot about my coin bank. I did again saved in a coin bank once during my first years of working and being independent. I used to save paper bills that time and I saved about $625 in 3 months. I used it for buying gifts for my family and relatives for Christmas. Hey, you know what you gave me a great idea ! I'm going to use my coin bank again!Ciao!
1 person likes this
• Philippines
14 Jul 08
Good luck to you iskayz! I hope you will be able to fill that coin bank again..
@ESKARENA1 (18261)
13 Jul 08
loose change? - my husband and i just put any loose change in our pockets, at the end of the day in a tin and then use it at the end of the month to go out for a nice meal
we have a coin tin. We got it at Disney in Paris a few years ago. Every time we have loose chainge, we put it in the tin. It always suprises me how much there is in there by the end of the month. It is usually enough for my husband and I to have a nice meal out
1 person likes this
• Philippines
14 Jul 08
Isn't it great to have enough money at the end of a certain period for us to use for things we love?
• United States
16 Jul 08
In order to get change you need to spend cash and I dont very often. But when I do spend cash I keep it in my wallet and put the extra in a jar when my wallet is full. I also put dollar bills in when I have earned them from doing side jobs since it isnt coming out of our budget.
1 person likes this
@TravisE (440)
• United States
14 Jul 08
My wife, and I, do a variation of this. We drop our coins in a jar everyday when we get home. I also have a monkey-bank on my desk at work. Whenever we are going on a luxury trip together, like a weekend trip to a hot springs or something similar, we trade all the coins in to offset the price. Usually come to somewhere between $250 and $300, which often pays for the whole trip. Always a nice surprise. ;-)
1 person likes this
@leeapollo (611)
• China
16 Jul 08
yes, I have a coin banks at home, i think it is very usefull and you can use the money in need. and it is very convenient when you went to supermarket and the coins are very important because if you don't prepare some coins they would return much more.that's make me feel uncomfortable. i usually exchange them when I have enough .
1 person likes this
14 Jul 08
Yes, I save all my 1p and 2p coins in coffee jars. The coffee jars are getting full now, so I'll take them to the bank next chance I get. I think of it as a painless way of saving a bit of money.
1 person likes this
• Philippines
16 Jul 08
good day.. I used to have one when was younger, keeping all the loose change in one place. I even gotten old coins that worth 200x its monetary value today. I kept them thinking that they're gonna multiply by themselves during my naive days, guess they did in value.
1 person likes this
@joihie (224)
• Philippines
13 Jul 08
I have a piggy bank and he is quite filled with money to the brim. But then my old bear bank is now drained. Saddening T_T
1 person likes this
• Philippines
14 Jul 08
Well, it's time to replenish that old bear bank....
• United States
14 Jul 08
i have one small red one, it organizes the different coins based on their value. this way it is very easy to grab the correct change. : )
1 person likes this
@cher913 (25782)
• Canada
13 Jul 08
we dont have a bank perse, but we do have a tin that had suckers in it (it is shaped like a milk can that the farmers used to use) and it does have a slot in the top and that is where we put our loose change into. we use it for holiday time.
1 person likes this
@checapricorn (16061)
• United States
13 Jul 08
Hi dolce, We have also one here...We just mix it all! I love that idea, it's easy to count! When I was single, we use to tape it depends on the amount we want like 5 pesos or so!
1 person likes this
@ertzinas (239)
• Finland
13 Jul 08
I did have one coin bank when i was a child. Me and my parents would drop there a few coins once in a while and after it was full, we went to local bank to deposit everything to my bank account. I think my parents were trying to teach me how useful saving is for later use. Too bad this didnt work out really fine. Whenever i get money in my hands it is gone in few days. And even one of my mottos is "money is made to use". Saving would be cool. But i just cant be bothered unfortunately. I like to spend even to things which i rarely use. :)
1 person likes this
@ellie333 (21016)
13 Jul 08
Hi Yes I have an old demi-john that I put all my coins into, I don't bank it every month but have raided it a few times to pay for something. It holds a fiar amount. The only coin in the UK that doesn't fit is the £2 but every other one goes in to it. I once had a tarmundi pot which is a pottery item that you have to smash only when full and you place a wish in it before you begin to fill and when I emptied there was £210 in it. Ellie :D
1 person likes this
@somiran (189)
• India
13 Jul 08
i have coin bank in my home but not like you . my coin bank is all together in a same bank
1 person likes this
• United States
13 Jul 08
I don't have a coin bank yet, but I am working on it. My boyfriend has a jar that he calls the "Ireland Fund". He puts his loose change in there in hopes to save up for a trip to Ireland. I'm adding what I can to it because I want to go with him. I think having a second coin bank would be a good idea. It could be an emergency funds jar. Hmm maybe I'll have two jars. hehe
1 person likes this