Sealed pots and penny jars - a help or a hindrance to DFW's?

Jinx

I just have a couple of pots..... one is actually a cow - my cash cow lol She gets any dross and can be opened. My other pot is a honeymoon fund terramundi pot my friend gave us when we got married... it only gets pound coins or above and while it cant be opened as such, the slot is wide enough to get cash out in an emergency. I've just had a teeny pay rise so Im acting as if I havent and putting the 'extra' into my savings account - I cant imagine putting aside cash that I cant get my hands on.... obviously a state of mind I havent mastered yet!!

tiny_courageous

I've found that I'm taking a lot less money out of the bank since I got rid of my sealed pots. My purse is full of change but there's something quite satisfying about paying with the right change and keeping notes intact.

mildredalien

I have one that I put leftover change in when my purse gets too heavy (unfortunately usually with coppers not pound coins!!) - but I tend to raid it every few months when things get a bit tight. It's better to feed myself with my piggybank at the end of the month than taking money out of savings/onto credit cards!

Unfortunately I tend to get lazy about it and tip it into one of those machines at the supermarket that charges a percentage... I'm sure there's a better way!

molit

some natwest banks have machines which dont charge a commision, but count everything

[Deleted User]

I have an old Roses sweet jar that I have had for years that I fill each year, I have never managed to fill it right to the top before emptying it out though!!
It takes all sorts of coins. I have a proper piggy bank which now houses £2 coins and I also have a counting coin jar that I save up £1 coins for my niece in. I am determined all of these will be full to the brim before I cash the coins in this time though!! :D
I am debt free now but I always found saving like this helpful for paying things like Christmas and birthdays with.

I also have my Virtual Sealed Pot that I use to pay off my Credit Card when I go daft in the January sales each Boxing day:eek::eek: This years plan is to have enough left over that I can replace my iPod and buy a Kindle!

P
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Indispensable_Hobbes

Martin always says to pay off your debts before saving.

I suppose it depends what your circumstances are, I hate having pennies, twos and fives in my purse so popping it in a bottle mounts up over time and although it isn't earning interest it also isn't being spent. Any found coins get chucked in there too.

I don't have any major debt, CC is paid off monthly, interest free loan is paid by dd monthly.

There are rules on the threads but there's no reason why you can't bend them a little; put the money in a jar back into your bank on a weekly or monthly basis. Take money out when you need it... shh don't tell

I've just joined the virtual jar thread and have shaved off the odds in my current account into my ISA; at the moment I'm not saving a regular amount (though I probably could) any eBay sales etc will go into that as well.

john_kent

My local Natwest has one of those machines where you just pop in your card and then pour in the change. Since using it for first time in january I find that my money goes a little further.

This morning I emptied the car cash tray as I no Longer buy coffees and use toll roads when travelling and had just shy of 8 quid in it. Thats 8 quid thats sat there for months.

I have a jar I drop all the small change in and empty that every time I go to town. Sometime a coupel of quid sometimes 12 to 14.

It keeps it in bank and has covered a few bills

blackandwhitebunny

I've also found that if you go into Sainsburys (and probably the other supermarkets as well) at a quiet time you can use loads of coins to pay for shopping at the self service tills. I teach food at school and the pupils bring in money for ingredients, recently lots of 2p and 1p coins. I then buy new ingredients and just empty all the coins into the self service, it does take a while though and it depends on how quickly you get embarrassed about holding up the queue, I tend to pick a less busy time.

Finefoot

What a great idea!

Sharon87

I have one not sealed though. I put money in when I have it and use it when I'm skint. As my work fluctuates. It's the same with loyalty points, build them up and only use them when I'm skint! I usually put the pound from the trolley into my pocket then straight into my coin collection - a pirates of the caribbean skull money box that my uni mates got me Which is where I started doing it!