A lot of people are watching their weight and don't need to eat cookies! So why not take that old cookie jar that's lying around and put it to good use? Take all the spare change that accumulates and drop it in that jar. In fact don't just put spare change in there, gather coins from anywhere and everywhere to go in the stash. Then by the end of the year, count it all out, and invest! The amount that savers will generate can be astounding.
How to Save Money with a Cookie Jar
First, take all the loose change from wallets, pockets, drawers around the house, and drop in that old cookie jar in the pantry. Then simply watch it grow for the next 12 months. But this is not just a passive activity! Take an active approach to collecting change. At the supermarket, dry cleaner, even the corner coffee shop. Collect those quarters, nickels, dimes, and yes, even pennies!
Some savvy consumers start stashing extra dollar bills and even fives and tens into the jar. Of course, those add up faster, and once the savings bug hits, this practice can become addictive. It doesn't hurt to imagine all the money years of savings can generate. After all, that's what saving is all about!
What to Do with all that Cash at the End of the Year
Now that a wad of cash has accumulated in the cookie jar, and the lid is barely able to stay on, it's time to do something with the money. First, call banks and find the best rate for a savings account. Even switch banks if necessary. Or, for savers who have been particularly vigilant during the past year, a certificate of deposit might be a smart option. And for those who haven't accumulated enough for a CD, watch those savings grow in a savings or money market account, and then when there's enough, switch to a CD. Sometimes money markets pay as much as CD's and the cash isn't tied up. Also, if interest rates look to be on the upswing, keeping that investment liquid in a money market isn't a bad idea.
Finally, Bask in the Realization that Saving Really Felt Good!
It takes patience, but even a little savings can amount to big rewards, in terms of personal accomplishment. Now go for bigger and better investments. Plan for some major life goal that could be years away, and start saving now!
L. Marie Dubuque - Based in St. Louis, Marie Dubuque is certified as a life coach. Her latest book, Emotional Spending: How to Break the Addiction is now ...
