How do you decide when it is ok to dip into your change jar?

**favesis37** · 06-29-2005, 04:38 PM

i was wondering when it is "ok" to dip into yours. gson needs new sandles for the rest of the summer, we need to finish the deck, and a few other things, at what point is it ok?

**AmyBoz** · 06-29-2005, 04:44 PM

Depends on what your change jar is there for. If it is a mini-emergency fund, then when you need it. If it's for vacation, as mine is, then two days before vacation you empty it, count it up, roll it up, and take it to the bank! I think it varies by purpose.

**favesis37** · 06-29-2005, 04:47 PM

hmmmm, never thought of giving it a purpose.

**homesteadmamma** · 06-29-2005, 05:02 PM

I'm always dipping into mine so I don't have to take any out of our savings or EF. Usually its because I need a stamp, a jug of milk or something small. Rather than using my debit card or taking it out of savings, I'll just take what I need. Once it gets over $20 I put it into the bank and start over again.

**favesis37** · 06-29-2005, 05:09 PM

maybe i should do that, put it in the bank so i don't just get into everytime i need something. the things i mentioned in the post can be taken out of our budget this week, so i don't need to really dip into it, but on the other hand that money from budget could go to something else.

**Rhaynefall** · 06-29-2005, 05:14 PM

Mine's for a vacation when the dog bank is full. So it's never ok for us to dip into it. Once it goes through the bankhole, it's gone, we stop thinking of it as money.

**patches** · 06-29-2005, 07:22 PM

Well, when I put money into a jar it always has a purpose. It is not 'money' when it goes in there, it becomes savings.

I saved money for the downpayment on our house in a change jar. $300 dollars in just a couple of months and the two $100 dollar bonuses we got, got us our house, which is almost paid off.

So, I don't even let hubby know when and if there is a change jar. That's my egg money and nobody touches it.

Can grandson get by with a pair of flip-flops for the rest of the summer?

I usually buy flip-flops the winter before while they are on sale for about $1 a pair. That's just me.

**britbunny** · 06-30-2005, 06:28 AM

Originally posted by patches
It is not 'money' when it goes in there, it becomes savings.

You've hit the nail on the head there for me! Once we've done our budget for the month and all the money has a name on it then that's that and once the change enters the tea caddy you don't see it as money until you look at the bank statement.

**Hollyhandi** · 06-30-2005, 08:23 AM

my change jar is usually for things we need to get through the last few days before payday. Bread, milk, eggs etc )
I don't have any savings yet. Hope to start a savings account this month.

**favesis37** · 06-30-2005, 08:33 AM

thanks so much for the ideas, i have decided to get g sons sandels out of our budget, they can't be more then 5.00 he is only 3, the wood for the deck hubby found some at work that might work, the money in there will stay in there until later when we really need it. i will take it to the bank next week and put it in saveings.

**Mamaw** · 06-30-2005, 06:33 PM

The change jar DH has is used to save for special purchases. It has bought alot of sporting gear over the years. Now there is enough in his to buy a motorized Barbie jeep for DGD next summer so we dont touch that. I just started my own change jar in which I put all MY change. That is earmarked for debt. I hope to put it toward credit card debt every six months or so. Just started so I have to monitor it

**Telephus44** · 06-30-2005, 06:55 PM

My change jar is for a downpayment on a house. I have a copper piggybank that I put all the change in, when it gets full we count it and put it in the big coke bottle change jar. Right now we have almost $350.

We do keep a small "emergency money" jar with only bills in it near the phone. I put all of the money we get from turning in bottles ($.05 each deposit) in it. DH and I use it if we need $ for parking, gallon of milk, etc. but we have to pay it back. It mostly serves as cash when we don't have cash on us. We've just decided that when it hits $100 we're going to take $50 and do something with it (either buy stock or start a savings account, we're still working on that part). Right now its at about $50.