When you’re a kid, collecting spare change can be a fun adventure. You can search for it under the couch cushions, in the dirty laundry piles, and in the car cup holders.
It’s extra money on top of your allowance to buy candy or something else that’ll bring a smile to your face.
Why let that excitement end just because you’re an adult? Here’s a look at eight brilliant uses for spare change to help you get ahead financially.
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Start a savings account
This could be a regular savings account or an emergency fund. After all, many Americans don’t have an emergency fund and can’t easily afford urgent situations.
You can avoid facing this situation by making good use of your spare change. You can even plan to take your piggy bank and spare change to the bank and deposit it into your savings account every three months or so.
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Donate to charity
Your favorite charity is probably happy to receive your spare change, which can also be another reward in itself.
You save throughout the year, keeping in mind the charity you want to help, and then you have the good feeling of a job well done when you donate that money.
Save for the holidays
If you’re a fan of the holidays and like to give lots of gifts, setting aside some spare change to do this can be fun. You can put that spare change somewhere safe to give yourself a head start on your holiday budget.
You could even use the holiday money you save from spare change to buy a gift, such as new board games or a dessert maker, that the whole family will enjoy.
Resolve $10,000 or more of your debt
Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.
National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.1 <p>Clients who are able to stay with the program and get all their debt settled realize approximate savings of 46% before fees, or 25% including our fees, over 12 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.</p>
How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.
Open a vacation fund
Imagine it’s the end of a long day, and you’re putting your spare change into a jar that’s housing your vacation fund. Your mood is lifted as you put more money toward that getaway you’ve been looking forward to for months.
If you’re perhaps not a great saver yet, maybe you’re saving for a weekend getaway with friends or just to pay for the hotel for your exotic vacation. Whatever your plans, this can be a great way to save and boost your mental health.
Create a future fund
Here’s a way to personalize how you’ll use that spare change. You could decide to create a future fund for yourself. This could mean saving your spare change to help pay for college, a hobby, a special purchase, your daily coffee, or whatever brings you joy.
You could even make this part of your overall financial planning. You could include it in your written financial plan for how you'll spend and save for the year or years to come.
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Have fun rolling it
One brilliant way to use that spare change is to involve your kids. You can work together to roll that change and make a party out of it. It’s one way to give kids a sense of fun when they’re saving money and being financially smart.
It’ll also be helpful to your finances since most major banks only accept coin rolls, not coins, which you can bring in your coin jar and dump on the counter. Your bank may even give you coin wrappers for free.
Teach your kids about money
This can start with rolling your coins for the bank. According to Dollar Car Rental, “They can practice basic math and help you save at the same time.”
You can even make it more fun by saving as a family. You can all put your spare change toward a common goal, like an amusement park trip or a visit to the movie theater. By doing this, your kids will learn how to sacrifice temporary spending for a later reward.
Pay it forward
Why keep that spare change for yourself? You could use it to help someone else in simple ways. Let’s say you keep change in the car. You could pay the highway toll for the person in the car behind you, or you could pay for the drive-thru meal for the customer who’s next in line.
Perhaps when you’re at your favorite coffee shop, you could use the spare change to help the person standing in line behind you. These random acts should help brighten a stranger’s day and boost your own mood.
Bottom line
It may be time to stop letting that spare change go to waste or take up space. You can find ways to help yourself and others with those loose coins.
One approach might be talking to someone at your bank. There may be options to open a savings account or enroll in a program where you can use your spare change to boost your finances.
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