The Importance of Having A Piggy Bank

Almost every child is given a piggy bank for saving change and allowance money.  It helps kids get into the habit of saving money.  However, having a piggy bank is not a bad idea for adults either.  If you throw all of your coin change into a change pot, piggy bank, or coin jar automatically at the end of a day, you will soon accumulate enough money to come in handy.

I find that in just a couple of month, I will accumulate $20 to $40 in change.  That change can come in handy if there is an unforeseen emergency or if you fall a little short in a pay period due to an unexpected expense.  Sometimes a piggy bank can provide enough money to pick up a few groceries and make it to the end of a pay period.   On a more positive note, it can also provide a little extra money for something nice:  a gift or a meal at a restaurant.

Many grocery stores offer change counting machines like CoinStar.  These machines make it convenient to turn your change into dollars.  However, there is a 9 or 10 percent transaction fee.

Managing Credit Cards - Budgeting Your Credit

If you have credit card debt, it can be hard to scrounge up the money you need for an emergency fund.  Financial advisors want you to have enough cash in savings to cover three to six months of expenses.  I want that too.  We all want that kind of financial reserve.  But, in the real world, we all have bills to pay.

One thing that is helpful is to dedicate your credit cards to specified emergency expenses only.  For example, you could pledge to only use your Sears card for car repairs and tires.  Your Visa could be reserved for veterinary bills only.  Then, as you pay down your balances, more and more credit becomes available for emergency use only.

Once you've paid a card way down, you can shift money into savings for that fabled cash reserve.  But, by pledging that your card will only be used for a few purchases, you'll avoid running it up unnecessarily.

Treasure in Junk Mail

Not everything in your junk mail pile is junk.  You can get some good deals.  For example, you can get coupons.

My junk mail regular provides buy one, get one, milkshake deals at Steak and Shake.  You can also get coupons for automotive service and repair.  I usually can find a good discount on an oil change or twenty percent off of any car repair.  These are always good to have in case of a car problem.

I usually ignore the rest of my junk mail, but sometimes neighborhood coupon mailings have good deals at restaurants.  If you have a special occasion coming up, they can be worth saving.

Fuel Yourself: Buy Groceries and Gas First

When you are in a tight pay period, make sure that you buy the fuel you need.  You have to fuel yourself with decent food and you have to fuel your car with gasoline to make t back and forth to work.  Buy these things early in the pay period so that you have enough to get through the week.