Do You Save Your Coins?
By Alice Henry
@IreneVincent (15962)
United States
September 17, 2016 11:30pm CST
I have several “PIGGY” banks, in which I save all my change. I put quarters in my Cookie Jar though. Then, I have three piggy banks. One for pennies, one for nickels and one for dimes.
I also save $2 bills in a teapot. When I get so many coins, then I roll them and take them to the bank and put them in my Emergency Fund.
You would be surprised how quickly the coins can add up. A wise person should always save something from every paycheck.
I remember when the banks used to offer a “Christmas Fund” account, where so much money was automatically taken out of your checking account and transferred to your “Christmas” account every week.
If a person saved just $5 a week, it would be $260 at the end of the year. When it is done automatically, you don’t miss it as much, they say. But, really a person should save, at least, $5 a week, every week, just to have something to count on in case of an emergency.
But, most people live from paycheck to paycheck with nothing going into a savings account. It’s a dangerous way to live.
What do you think?
7 people like this
5 responses
@responsiveme (22926)
• India
18 Sep 16
You are right about the savings part. Coins I keep in a little bag for using in public transport:)
1 person likes this
@scheng1 (24649)
• Singapore
18 Sep 16
Saving is not a problem in some countries, such as China.
The household saving rate exceeds 50%.
Even in my country, Singapore, the household saving rate is more than 40%.
The problem in China is that getting people to spend money is worse than getting them to go to the dentist for their teeth pulled.
I do not know why the western countries have problem with saving money.
We have credit cards too, and nearly every household has a mortgage for 25 years and more.
Yet on a whole, saving money is not a problem.
@jstory07 (139717)
• Roseburg, Oregon
18 Sep 16
I have some glass jars that I put all of my coins into. We will not cash them unless we have an emergency.