Friday, 24 June 2016

Small change can mean Big money

I’ve recently started making an effort to save money through a conventional yet somewhat forgotten method, the Piggy Bank or as we trinis call it, Cash Pan.


As a child I kept a cash pan which would securely keep 25 cent pieces collected over the period of a year. At Christmas time each year I was allowed to 'bust' that pan open and purchase any toy that I could afford. This was my parents' way of teaching me to save while also giving me an appreciation for the rewards of saving. I remember being so excited to find out just how much money was accumulated over the time.

The dynamics of using the cash pan haven’t changed. Coins that are neglected in the household cannot be of benefit unless they are collected and put to use. I searched throughout the house, every cupboard and draw, the car, my wallet and not to mention my wife’s many handbags. The quantity of coins recovered was overwhelming. Since then, I have assigned special pans for coins at home and my family and I have made a conscious effort to use them.
Here's a pic of my homemade cash pans
In the period of one month, we’ve collected over $30 in 1 cent pieces alone which would normally have been disregarded. That is $30 cold, hard cash.
 I challenge you to start collecting your coins. In the post, Are you throwing your money away?, Alicemhalls commented that she has a mini suitcase full of coins.

Tell us how you intend to save your coins. Share a photo of your stash.

3 comments:

  1. The practice of saving is a lost tradition that definitely needs to return. It is a good idea to teach our kids to save something for a rainy day. I like this idea. Keep it up!

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    Replies
    1. It is a lost tradition and we will do well to teach the next generation to rekindle it.

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  2. I have a plastic bag with coins. Lol

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