Never Spend a £2 Coin Again

[Missy89]

I saved all my £1/£2 coins through the year and ended up with £500-odd it's a great way to save Aston don't really miss the odd pound here and there. They all add up in the end! I bought one of those ceramic money boxes that you have to smash open when full, apparently
It holds £1000 in pound coins...
That'll have to be next years venture

 

[TheFrugalCottage]

I do this throughout the year and then spend them on Christmas presents

 

[beermoneysteve]

We did this last year and ended up with £280 which we used as spending money at Center Parcs. Doing it again this year but no idea how much we have as one of our rules is we dont count it up until we intend to use it for something!

 

[katbythesea]

Like this idea - tend to do it with the small change (1p, 2p, 5p) but never thought to do with larger amounts - though have to say very rarely get £2 coins but will save them now when I do.

 

[workingclasstowealth]

I have to disagree with this practice - read my blog post here.

https://workingclasstowealth.wordpress.com/2016/01/30/piggy-banks-mugs-game/

Just my own personal opinion on the practice of saving coins. It's not the saving that's the problem it is the practice of having capital resources sitting doing nothing in a jar !

https://workingclasstowealth.wordpress.com/

 

[cybergen]

Interesting idea workingclasstowealth - not idea as it's true and I'm going to give FC a go. Any tips on investor reading please let me know! ;D

 

[Architeuthis]

I've been doing this for a while - a piece of advice: Check each coin you put in. Some £2 coins are 'worth' more than others to the right people. (Check eBay etc.) I think there's a Lord Kitchener one from a couple of years ago that's worth quite a bit and a Charles Dickens one as well. You may never see one but it's worth the two minutes it takes to check!

 

[lucy_lynn66]

I already do this with pounds and will.start with 2 pounds

 

[Zzil]

I have to disagree with this practice - read my blog post here.

https://workingclasstowealth.wordpress.com/2016/01/30/piggy-banks-mugs-game/

Just my own personal opinion on the practice of saving coins. It's not the saving that's the problem it is the practice of having capital resources sitting doing nothing in a jar !

https://workingclasstowealth.wordpress.com/

Whilst I agree that I don't understand why people feel the need to save money in jars....funding circle is risky as far as investing goes. Your money is not protected in the same way it is in a bank, under the FSCS. All investments are risky, but I would suggest that most people saving change in jars are looking for some holiday money and would be better off getting themselves a bank account that pays high interest on up to the first £5,000. The general rule with investments is that you need to be tying your money up for at least 10 years and it's then not liquid cash. With a bank account or ISA you can withdraw it without penalty, so long as it is instant access. I haven't had a piggy bank since I was a child and I didn't use it then! Get yourself and your kids bank accounts!

 

[AWW]

I'm not saving for a holiday.

I've found I've saved more in the change challenge than I have in my ISA this year. Perhaps it's because I'm unlikely to nip down to the bank to deposit £1.50 in change. Assuming they'd accept it, which unless they have a change machine they won't until I've filled up one of those little baggies. The banks aren't exactly close to where I live so I'd probably spend more than that in petrol and parking before I even got to the bank. And Santander have just informed me that they're reducing the interest on my accounts -again- bahhhh.

I also find I'm more likely to spend it if it's in my bank account - living in a virtual world will do that for you.

I feel a little cross that people seem to be saying that saving money in a money bank or a jar is childish, saving money is saving money. Childish would be spending it all on Freddos and not saving. (mmmm Freddos).

So, if you're saving money, however you're doing it, go you! If you want use that money to do something other than save (e.g. earn interest/profit/invest) Also go you! This site is great for that

 

[katykicker]

[member=2818]AWW[/member] I LOVE freddos.

 

[AWW]

I love chocolate....though i'd be hard pushed to decide between that and fresh crusty bread

 

[katykicker]

I love chocolate....though i'd be hard pushed to decide between that and fresh crusty bread

What about bread with chocolate on?

 

[AWW]

ew ew ew

 

[ElectricGreen]

Good idea, will be trying this out.

 

[rhinogentle]

I tried this ... Next time I need to hide the tin opener!

 

[frugalhomeblog]

What a fantastic idea! I know this is an old post, but I'm new here so looking through all the posts and comments. Will definitely be giving this a go in the run up to Christmas!

 

[Lyndsey K OHalloran]

I keep meaning to do something like this but it's not very often I actually carry much cash any more