How much spare change do you accumulate in a day? Even though you may think that a bunch of pennies and dimes are useless, every little bit can help you save towards something great. Here are a few smart ways to save your spare change.
Create a Vacation Fund
Realize that you used your credit card too many times on previous vacations? Consider saving spare change in a jar to use on your next vacation. If you tend not to worry about earning points and miles, and simply go with the best deals you can find, this is a better way to pay for your next trip.
Donate to Your Favorite Charity
If you volunteer for a local nonprofit or charity, you can use your spare change at the end of the year to make a donation. This is a great way to help someone with those spare quarters and dimes. Also, consider keeping a change stash in your car just in case you pass a fundraiser for your local fire or first aid squad.
Buy a Stock
If you have a decent amount of coins saved, you can invest in one or two stocks. You can then reinvest these to create a growing investment with your spare change. If interested, check out Investopedia as they have easy-to-read articles about how to get started buying, selling, and understanding different stock options.
While it may not be the most “fun” way to save your spare change, the money you have stashed may help you with a car issue or home repair that’s needed ASAP. If you don’t already have an emergency fund, it’s a good idea to use your spare change to start one.
Pay for Gas
Take your change to a coin machine or roll up each denomination, and you’ll probably get yourself at least one tank of gas each month. You can then use your money on other things.