I noticed the “need a penny take a penny, have a penny leave a penny” dish next to the cash register at the convenience store while paying for gas. My bill was $43.01, so I was tempted to take a penny so I wouldn’t be given back 99 cents in change. But at the last second, I handed the cashier two twenties and a five, getting back a one dollar bill and enough change to weigh down my pocket for the next several hours.

Why would I do that?

Why Everyone Should Save Change

Having a pocket of change at the end of the day means I get to make a deposit into my change jar. My change jar is a large plastic drink container I got at Animal Kingdom in Florida. It’s not too big that I can’t see making progress in filling it, but large enough that when full is at least $100.

Change jars can be used to collect money for almost anything, including:

  • Create or increase the balance of your emergency fund
  • Tropical vacation
  • Big ticket item you dream about
  • Christmas shopping

I use my change jar to help fund our yearly Memorial Weekend party. There always seems to be something we forget about that requires a little extra cash. Our change jar always seems to come through.

Maximize Change

Many people try to minimize change, while I try to maximize it to help keep the fill line on my change jar moving up:

  • Ignore the “need a penny take a penny” dishes.
  • Never add change to a purchase so you get only dollars back
  • Sometimes I even make several separate purchases to increase change

Saving change doesn’t have a significant impact on your budget. At most, you can get 99 cents on a transaction. But over time, that change adds up to real money. That chunk change will be a game changer for something when you need the cash.

How about you, EOD Nation, do you purposely maximize change to fill a change jar?

Article was originally posted at : https://www.enemyofdebt.com/i-love-change-you-should-too/