Do you save your change?
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Thread: Do you save your change?

  1. #1
    Contributor mommythea's Avatar
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    Default Do you save your change?

    Over the past 2 years we've been using a cash budget system for shopping. We have 4 categories. Grocery, Kids, Entertainment, and Misc (which is toiletries, dogfood, house cleaning stuff).
    We decided to just spend the paper money and throw all change into a jar. In the past 2 years we saved over $100! We put this money towards our vacation fund. While $100 may not seem like a lot 2 years ago $100 was how much we spend on 1 weeks worth of groceries, so to us it is a lot of money.
    Does anyone else do this? What is your system, how does it work for you?

  2. #2
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    Yep, we use a cash only system as well. We got into some major trouble with credit cards and so we got rid of them (still paying on them, though, ugh) and went to cash only. We budget specific amounts for Grocery, Gas, Daycare, Misc (which is entertainment, eating out and your Misc category). We put all the change into DS's piggy bank. We flip-flop between using our debit cards and actual cash (the account that we draw from only has the amount of money for these items), so the change doesn't fill up too fast, but I know that in about a year's time, we've saved up about $50in there, I'd guess? Plus, I have another $5 in my wallet now. We have another bank account that has just the right amount of money to pay all our bills, so we know we will always be able to do that. Then we also have a small amount of money direct deposited from my check into a savings account, so we've got that to fall back on also. We're very strapped for money, but at least this way we know we always have our bills and necessities paid for.
    Jessica & Andrew 09/03
    Noah 11/14/08

  3. #3
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    We don't save our change, but that's a cool idea. (I save my quarters to pay for parking.)

    We use cash for grocery, household and allowance (pocket money for me and DH).
    We use a debit card or check for expenses like child care and gas that have set amounts that we can't "fudge." We don't buy miscellaneous items unless we save our leftover household money for a few weeks to pay for it (e.g. we bought new mattresses for two of the kids with household money).
    We have not have a credit card for 4 years now and just paid off all of our consumer debt (4 credit cards and two personal loans) except for the Amex, which has less than $2000 and a very low interest rate. We've worked very hard to get out of debt and are proud of where we are now. Sorry if this is more info than you were looking for.

    Deb ................. DH Norm
    DS Caleb, 13 ...... DS Patrick, 12
    DS Isaiah, 8 ......... DS Thomas, 7

    DD Cherish, 6....... DD Emily, 7\18\13 ....... Ripple, 17
    William, 14 weeks, 4/11/12

  4. #4
    Online Community Director MissyJ's Avatar
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    We definitely save the change! It really was a welcome surprise how much that can add up! What was great though was that when it was full, our KIDS weren't willing to spend! "It took too long to save that much mom!" Awesome! LOL

    ~Missy

  5. #5
    Posting Addict Audgee's Avatar
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    I wish I was better at doing this!
    It adds up a lot faster here, because in Canada we have $1 and $2 coins, so if you include those you can get to $100 pretty quickly!

    Everyone else's stories are inspiring me to get back on board with doing this!
    Audrey
    DH Sebastian
    DS Sawyer 4/1/06
    DD Payton too beautiful for this earth, born silently 7/19/09 at 33 wks
    DS Greyson 6/29/11
    DS Parker 4/14/14


  6. #6
    Posting Addict Breen31806's Avatar
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    We don't save our change. We do the Dave Ramsey envelope system so the extra change stays in the envelope and we use it towards our groceries. This is a very neat idea but I'd be afraid my hubby would steal the change to buy drinks at the convience store if we did this. Maybe we'll have to talk about this.
    Kebrina
    Hubby: Cart
    Daughter Rileigh Ann arriving January 2012


  7. #7
    Posting Addict Mommyin0406080912's Avatar
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    We should talk about the Dave Ramsey change idea! We don't do Dave Ramsey but we do use the envelope system. We save our change or at least hubby likes too!
    DD1-Maddy-8yrs
    DD2-Lucille-6yrs

    DS1-Wade-4yrs
    DS2-LeLand-3yrs

    DD3-Carolina Jan 13th 2012
    Lilypie First Birthday tickers

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    I thought I came up with the envelope idea on my own, then I found out that's what Dave Ramsey is all about. I guess great minds think alike

    Deb ................. DH Norm
    DS Caleb, 13 ...... DS Patrick, 12
    DS Isaiah, 8 ......... DS Thomas, 7

    DD Cherish, 6....... DD Emily, 7\18\13 ....... Ripple, 17
    William, 14 weeks, 4/11/12

  9. #9
    Mega Poster celticbandgeek's Avatar
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    We collect all of our spare change in a big jar. When it's full we cash it in, and usually it's about $100. Amazing how fast a little bit of change an add up.
    Jean


    2011/2012 - 1 M/C, 5 CPs

    JLIH from here on out and leaving it in God's hands


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  10. #10
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    We do the envelope system (Dave Ramsey) with groceries, dates, animals, Blow, doctor, gifts (Christmas), etc. If we have change after a purchase it just goes into the change jar rather than the appointed envelope. I find it to be too much of a pain to keep track of the change in the envelopes. When the jar is full we cash the change in and use it for something fun or put it in savings. There is usually $50-$100 in the jar. It amazes me how fast it adds up.
    ~Janae
    Chase-13, Trey-11, Layton-9, Zander-5, McKay-3, Declan-1, Keely born 9/6/2012

    2/25/10

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