One of the easiest ways I find to save money and for it to not be a noticeable change in finances, is to save the humble £2 coin.
As someone who works in both cash and card, it can often take a while for £2 coins to appear, but they soon add up to quite a substantial amount especially if you save over time. Each year I start with an empty pot, having paid my £2 coin stash into a savings account, and it is surprising how quickly the savings grow!
The challenge rules are very simple:
– all £2 coins must be saved (unless unavoidable)
– when the tin reaches £100, the £2 coins are paid into a savings account
The reason that I don’t leave it all year before paying in the coins is that I’m a bit uncomfortable about having big sums of money sitting in our house, and also I want to earn a bit of interest on the savings, as it all adds up!
My aim this year is to save £300 in £2 coins. At the half way point, I’ve had £116’s worth, so I’m behind target. But, the best thing about it is that I don’t notice it. A coin here or there into the pot doesn’t make a lot of difference, but it adds up over the year. This would work well with the €2 coin or the $5 note.
Do you do this? How does your system work? I would love to hear about it in the comments below!
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