I have a small cardboard box (piggy bank or cash-tin) that sits on my kitchen counter. Inside it is my pocket change from the last several months.
It seems like such a simple idea, but it can be quite powerful if you keep up with it. At the end of each day, I take that change and put it in the box, where it remains for a while. I usually let it build up for about 3-4 months period, which is when I usually stop by my bank branch anyway to do business. The day before I just count all my pocket change, bag them in the amounts specific by the bank and just deposit into my account. The last time I counted all my pocket change, I made a deposit for EC$87.25 into my savings account. From there, I usually transfer it into a high yield savings account that will earn interest on my accumulated change.
Every little bit helps and it takes almost no effort at all. On an average day, I have about 90 cents in pocket change; I used to have much more, but I started using up all the quarters to pay the bus to and from home. But with 90 cents everyday that means I usually have around twenty seven dollars in the jar at the end of each month, which often feels like â€œfree money.â€
Itâ€™s a simple and nearly effortless way to build up your personal savings.