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I Do Not Have a Coin Jar, and Here’s Why

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Over and over again, I hear about people putting all of their change in a jar and then at a certain point, rolling up your coins and seeing how much is there. Then you use that money for some special occasion or treat.

I admit, it’s a good idea for saving for a rainy day. And what I am about to say is in no way meant to put anyone down that has a coin jar – so I hope no one takes offense.

I do not have a coin jar. Why? Because after reading how people have hundreds of dollars after a year – it makes it clear to me that the better thing to do (at least for me) is to not use cash!

If you can save your spare change in a jar and have that much – what about all the money that you loose? You know, inbetween car seats or on the ground. One time while I was working at the grocery store cashiering, there was an older gentleman that reached in his pocket for some change and a $100 bill fell out. He didn’t notice (and I didn’t either), but luckily an honest younger man behind him did – and promptly picked it up and returned the bill to it’s rightful owner.

This is a big area where my husband and I disagree. He likes cash for those everyday purchases (another reason I don’t like cash – it’s too easy to spend). He will proclaim “WooHoo” when he “finds” $1.00 in his pants pocket. My take on his “find” is that it isn’t really a “find” at all – it was money that if he lost, he wouldn’t have noticed. And it all adds up.

I believe it is much better to use checks, debit cards or credit cards (as long as the balance is paid in full every month). You can loose those too, but not as easily as change. You probably won’t go looking around when you “think” you might have lost a quarter. I spent an hour and a half searching my home for my checkbook when I couldn’t find it just the other day. Why? Because it means more than a handful of change.

Everything adds up. Might as well use the best method around of keeping it all in one place. And for me, going cash-less is the way to go.

Technorati Tags: change, coin+jar, saving, saving+money

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Less Late Fees = More Money to Pay Debt

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I don’t know about everyone else, but I do not like late fees. I don’t mean to return something late, but it seems as though with everything going on my life, making sure a video is returned is the last thing on my mind. Or making sure that credit card is paid on time…. Or making sure your bills are paid by the due date…

The list goes on and on.

Late fees are all over, and I actually keep track of the late fees I pay within my Quicken file. I want to see how they add up and then take a good look at them. I started doing that a few years ago, and I have been doing so much better with avoiding late fees.

Technorati Tags: late+fees, avoiding+late+fees, credit+card+late+fees