[AmyBoz]

Hi all! I had posted awhile ago that we now have a dollar tin. Everytime we get ones in our wallets as change, we immediately toss them in the tin when we get home. (Along with our change going in the big change bottle!)

Now, the spare change we use for spending money on our vacation in the summer, but I haven't quite decided about the dollar tin yet. I'm thinking that if we keep it TOTALLY off limits, maybe we can keep it going for a few years and turn it into a fund for a big trip, like to Disney, when the kids are older. It would be so nice to decide the kids were old enough and not have to start saving THEN, but have the money already socked away. Of course, we'd have to deposit the money every now and then, but we have a separate bank account from when we refinanced our old home, and I guess we could use it for that.

Does anyone else do anything like this, (or even like having money taken directly out of a paycheck and put in a savings account), and if so, what do you use the money for?

 

[AmyBoz]

Oops, forgot to add that we currently have $41 in there.

 

[Hollyhandi]

I would love to do this. My dollars right now go for DS lunches at school.
Maybe I'll start one and not tell anyone then surprise them with a trip or use it for our RV someday
Wonder how much I could sve in 4 years...

 

[ScrapMama]

We have a Christmas account we take money out for and we are starting our savings account this month to have $100 taken out of each of dh's checks. I also have my change jar which I put into a seperate savings account now when it gets filled.

 

[tightwadmommy]

I love the dollar tin idea. Think I'm going to start one. We were talking only yesterday about taking the kids to Disney world in a couple of years. This would be a good start to saving for it. They will be around 9 and 4 1/2 in 2 summers.Is that good ages?

 

[Kimberlina]

We do something like this- the money goes in my daughter's piggy bank. We call it piggy money, and it goes into her bank account. We've save up over $400 in the last two years in just random change, and we actually haven't put much in there dollarwise in at least 7 months when DH lost the contract for his consulting (on the side) work.

 

[Mommy2five]

I think that dollar tin is a wonderful idea! We don't use cash much so it wouldn't do us much good :toothy: I do have a change bowl, but I use that to pay the children for doing their chores. cheap labor

.

Does anyone else do anything like this, (or even like having money taken directly out of a paycheck and put in a savings account), and if so, what do you use the money for?

We have our savings taken right out of our check. It's in a seperate account NOT connected to our checking account. We don't count that money as part of our pay at all. We try to forget we have that money. It has really added up over the last 2 years! When hubby gets promoted later this year the money from that raise will also go into this account.

We also have a savings account connected to our checking account. We use it to save up for purchases. Right now we are saving for a new bed.

We also have a savings account for each of the children that gets an automatic deposit after each payday (once a month). I consider that a bill also and it's always written on my budget like one. It isn't alot, only $25 per kid, but it will add up over time. We also split the income tax between their savings accounts. We would just blow it if we didn't :bang: We get the money cause of them anyway. We refuse to touch that money in their accounts.

 

[Englishlady]

I have a £1.00 coin tin and a 50pence coin tin and a seperate tin for all the shrapnel ( smaller coins )

I keep just one of each small coin in my purse.

We managed to save enough money in the £1.00 tin to pay for all our spending money for our most recent holiday in the Lake District.
We had been saving since early November and we went on holiday in early March
We keep the coins seperate to make it easier to sort and bag up for the bank.

Karen

 

[MelinaG]

I have a $1 tin.....I use to have a plan where the money would go but now i just don't know...so I just keep saving. We have over $115.

Melina

 

[Layne]

I think a dollar tin is a wonderful idea. I have an old one that I almost threw away that would be great for this. I might try this to help save up money for my emergency fund.