February Challenge.....

deemom · **February Challenge.....**

is save the pocket change. You can do this one of two ways:

1. Any change you get do not spend it. Go home and put it in one place (I have a coffee can I use). At the end of the month go cash it in.

2. If you rarely use cash try this route....when you balance the checkbook round up. Let's say you spent $23.35 at Target. In your checkbook round up to $24. At the end of the month compare what the checkbook says vs what the bank statement says is in there. Take the difference out.

Next decide what you are going to do with this money. Are you just going to keep saving change? Are you going to put it into savings or pay down a credit card? You might be surprised at how much loose change can add up.

Who is on board for this challenge?

chevy_chick95 · 01-31-2008, 07:50 AM

i'm in!

i save my change, but, i always end up going to coinstar and cashing it in...

(which i shouldn't do, i know, cuz banks are free and coinstar charges you)

but i'm saving it!

great challenge deemom!

eyrehead · 01-31-2008, 08:33 AM

I'm in on this one as well. We'll most likely add whatever saved change to our savings, since we're going to get hit hard this month...insurances, property taxes, and the kids' birthday party will occur in Feb!! I'm hoping (and praying) that I'll be able to really stretch those dollars, and not have to transfer anything from our savings into our checking to cover the bills, and the ins., taxes, and the party.

What an awesome idea for a challenge!!

smilingangel · 01-31-2008, 09:37 AM

My DH and I have done this for yrs. and it's an awesome feeling, especially for example this year we needed to buy our DD a class ring and he had me take in his change to the bank and that was how we bought her ring. There was no need to dip into the savings and it felt WONDERFUL!!!

This is an excellent challenge!!!!

queenboxtop · 01-31-2008, 10:16 AM

We have been doing this for a long time. Our bank doesn't even require us to roll it.

We cash it in three times a year and it is about $80 sometimes more every time. We use this money for Christmas.

I used to do the checking account round up but since I have gone to an all cash diet, except for bills, I won't be able to do this one. I find that if I only carry cash I spend much less.

Great challenge!!

Angel MM · 01-31-2008, 10:29 AM

I'm in!

brensmom · 01-31-2008, 10:41 AM

i'm in we are also going to save loose bills. like yesterday i took out 40 bucks to take dd to the dr again(ugg 3rd ear infection in a month) so i paid my co-pay and then i had to get medicine but i also needed toilet paper and milk so i used my debit card so i took the other 20 and put it in our can... we are going to use the money for fun outings this summer once we have enough to go somewhere like over to the state capital to the zoo we will use this money to help fund the mini trips.

LJGZsmom · 01-31-2008, 10:48 AM

I'm in!!!

We have always done this, but always end up going to the jar to take out quarters for a soda or car wash. Now we just have to get better about leaving it there!

And what will we do with the change? My plan for the past 10 years -though it has never happened- is to use the money for a date night. Maybe I will stick to it this time!

lrwtjw · **Spending cash for kids!**

I save my change already and cash it in once or twice a year.. The week before vacation I have my three kids count and wrap the change to spend of vacation. Just an idea

LRW

sammydmommy · 01-31-2008, 02:57 PM

I am in!! I do both of these versions already in some way. I put all my pennies in a bank and I take that to the bank and deposit into my sons college fund. I round up my entries in my checkbook to the nearest $5. When I get my bank statement at the end of the month, I deposit the surplus into our savings account. This month I will put all of my change in the bank. This should be interesting.