Pennies
When my children were young, they loved getting pennies. As they grew older, they realized it took a lot of pennies to buy what they wanted. Happens to all kids, they’d rather have the dollars. Wouldn’t we all?
Pennies do add up.
One of the ways my husband and I save up for extra spending money is to throw all of our spare change into a bucket. When the bucket gets near full, we take it to one of those change counting machines that they have in our local grocery store. Sure we have to pay a percentage of what’s in the bucket, but it’s better than rolling them.
Most of the time, the bucket is full of pennies with some quarters, nickels, and dimes in the mix. Our bucket is getting close to full and soon it will be time to make a trip to the machine. This time, though, it will be different. We will deposit the money into our checking account and transfer it over to our savings account.
Saving accounts are easy to open online.
One thing we didn’t realize was how easy it was to open a savings account. It was one of the easiest things to do in our budgeting journey. Savings accounts can be opened online. We decided not to open our second savings account at our bank. It would be too easy to take the money out. We don’t have that much self control yet.
There are many sites that offer online checking and savings. One thing that we did was read about all the different offers. We also took a look at how safe our money would be in the different institutions. We chose INGDirect.
Opening an account online requires that you give your routing information and checking account number. The account will need to be verified and usually the institution will deposit two small amounts. You then log onto your online banking and find out the amounts deposited and then log into the new savings account and verify the amounts. It’s all very simple.
It might be something you’d want to try, if so click on the link above and it’ll take you right to their site and you’ll be on your way. If you’re not sure, then do your homework. Read about the different institutions. Do what’s right for you and your needs.
About The Frugal Housewife
Those coin counters in the markets take a percentage, but if you take it into most banks where you have an account, they will count if for free.
Good point!!! Will do that this time!!!
My bank takes it for free and I just have to deposit it into my checking account. I have to make a trip soon since my jar is almost full. We are saving up for our first vacation to Disney.
It is amazing how quickly pocket change really adds up. That money could be used to help for Christmas, pay off debt or whatever. I always break a bill and save all the change.