At the end of the day, do you ever get home and realize you wallet is bulging with spare change? Or maybe you keep your loose change in your pocket all day and dump it out on the table when you get home. We have all been there.
We end up accumulating a pile of spare change that we have no idea what to do with!
As a kid, my parents gave me a glass jug I could dump my money change into from doing chores. Not too much has changed as an adult; I have an old coffee tin I use to dump all my coins into.
The change in the tin has never had an official goal and has always sat around for the right moment.
Should I spend or save my spare change?
Right now the coffee tin is almost full and I am debating how I want to spend it.
I could be smart and put it in savings. To do that, I'd use a site like Acorns. The app rounds up your purchases and invests the change.
Or I could have fun with it! It's not like I am missing the money from my bank account and it's visibly absent.
Whenever I have tallied up my coins, I have always counted this money as free, unplanned money that is more like a reward than the money I have been saving.
Over the years, I have used my change for various purposes:
- Rainy day fund
- Spending money while on vacation
- Going out to dinner
I don't think I have ever spent the extra change on bills and everyday expenses.
If I was smart, I could spend the money on:
- Paying a utility bill
- Towards groceries
- Cash only spending
- Small expenses, like pet food
The bottom line is that it is hard to decide how to spend this money! I don't really have any guilt about how I choose to spend all this free money.
Until I decide, I think I am going to let it keep filling up my coffee tin.