Money Boxes

Buffythedebtslayer

I have

A troll with purple hair for 1 and 2 pound coins

an Elephant for 20 and 50 pences

a pink fluffy money box for 10 and 5s

and two jars for coppers.

I am mad.

oh well.

SPANIEL36

I've Also Got An Empty Powdered Milshake Tub With Coppers In, There's Roughly About 20.00 In At The Momoent This Will Be Cashed In For Spending In Tesco At Chrimbo

chloebelle

v. interesting thread - I have 2 pickle jars, well washed although they still smell of pickle :undecided

One is for £2 coins and the other is for 20p and unders. My £2 jar seems to have loads in at the moment, am really looking forward to counting it! Am hoping to pay for all xmas pressies out of it.

oscar52

I just have a jar and everything gets thrown in - I have a coin sorter (whicch was bought as a crimbo present) - then i weigh them to make sure there is the correct amount

PasturesNew

To be honest, I don't use money boxes or tins at all.
I just don't get it.

I spend my change.

The way I see it is this:

option 1] Take out £20, buy things, get home, empty pockets and put cash in a tin. Go out next time, oops, no money. Get another £20 out... £20 in my pocket, feeling wealthy, buying things without thinking too much.

option 2] Take out £20, buy things, go out the next day - ah, not much cash - so every purchase is thought about a bit more.

I figure that as I am taking less out of the bank, more is staying in my bank earning interest. Whereas sat in a tin not only is it NOT earning interest, but continually taking out more money would make me spend more as I'd be in possession of £20 notes more often.

An example might be: £1 cash in my pocket - buy just the newspaper I went into the shop for. £20 cash in my pocket - buy the newspaper, small choccy bar, look around what else they've got and end up spending over £3.

Larumbelle

I see your point, pasturesnew, but I think it depends on the person.

Personally I resent parting with money for anything at all, regardless of whether I hand over coppers or a £50 note or a debit card! So I know I will not spend more if I break into something bigger.

Yes, so my pennies could in theory earn more, but I don't have the time to constantly take all that small change to the bank or whatever. For me it is an easy and relatively pain-free way of keeping hold of money instead of spend it, something I am sure was alien to most of us before we found this board!

As for saving £1 and £2 coins, I find that making it heavier and fuller is a great motivation to save more! Seeing figures in a passbook is satisfying but experiencing how much they weigh is great fun! It is all money I have saved that I would otherwise have to have spent - coupon money, special offers or underbudget money. I find that the incentive is worth more to me in real terms than interest rates would be. When I empty the £1 and £2 jar it goes into saving for an occasion or paying things off, by the next time I empty it I will be completely debt free anyway :beer: and I will then have a savings account that actually contains savings!

Ell87_2

I only save 1p's, 2p's and 5p's right now and just lob them all into a big Roses tin and then take them to a coinstar machine every now and then, that sorts it for me!

Doom_and_Gloom

My boyfriend and I have a 3L vodka bottle that we put 1ps and 2ps into.
A dog that 5ps go into.
Aswell as an old saki box, that the bottle comes in, for 10ps.
I would do 20ps and 50ps but I need them to pay for most things I buy. We don't notice the rest of them so we see it as we don't really need them. We probably have over £5 in 5ps and about that in 1ps and 2 ps also and we last deposited money from it into our joint account about 2-3 months ago. The 10p one hasn't been started for long and we don't get them as often.
Savings that we make that go into joint account may go on a day/meal out, spending money for a holiday or a percentage of the costs of one or something else we can do together . That or for a depoit for rent or similar when we decide to get a place for ourselves :T .

MRSMCAWBER

Hi there

I have those tins you have to attack with a tin opener..and i have 1 each for:-

1. 2 euros
2. all the gold coins
3. all the bronze coins
4. the deposits we get back from returning the glass/plastic bottles
5. change from my shopping budget
6. my "wight loss tin" - hubby and i put 1 euro in each for every 1lb i lose.... got 65euro in there now -in the last 11 weeks:rotfl:

they have to be ones we can't get in as the temptation to dib in is just too much

poppycracker

We have a 3L vodka bottle too!

1s,2s and 5s go into that, and I've got a pigsback piggybank that I put 20ps into.... not that theres ever much in that...... Last time I checked, there was just under £20 in the vodka bottle but I spent the £10 in the piggybank on petrol when we went to Lewis last month so I've got to start saving them again. Luckily, my OH is one of these men who can't pay for anything with coins so (when we've got money) he's usually got a pocketful of change that I help myself to :rotfl: