Coins

Our coin sorting system

Rolled and Done!

In the last year I re-organized my wallet and started using an envelope system for my cash (the Dave Ramsey method). Keeping change for each of those envelopes became annoying and heavy - not good. So Kevin and I decided to start putting all our coins in one place. We didn't have a clear plan on what to do with them, just to get it out of our wallets. Kevin kept coins in a beer stein on his dresser so we just stuck with that. As it started adding up, every month or so I would pour it out and sort it. I keep snack sized Ziploc bags at the bottom sorted by denomination. Recently the stein threatened to overflow, so it's time to clear it out. I called my bank to ask how I could deposit or cash it out. Wells Fargo said they would give cash on the spot for rolled coins.  If I didn't roll they could send it to be counted and deposited however it wouldn't clear to my account for roughly 10 days. We have a bag of coin roll papers that Kevin's probably had longer than I've been around, but now it's finally dwindling down. Since the coins were already sorted it only took 10-15 minutes to count and roll (hint - stack them in groups of 5 or 10, then figure out how many little stacks go in each roll). I ended up with $61.50 in rolled coins, and another $10 still loose.

We decided to use the money for a family day out this weekend to the zoo and our favorite mexican restaurant.  Here is a collection of ideas on how to use the coins - all of which I love and hope to use in the future.

Family Outing - Zoo, museum, theme park, concert tickets - whatever your family can all enjoy together.  You purchase board games, a cookbook - anything that you can all play/do/use for family time.

Vacation Fund - On your next vacation have a little extra money just for splurges.  We love to research trips before we go, so find something your wouldn't have otherwise done or might have been out of the budget.

Big Item Fund (car, college, wedding) - Coins aren't going to foot the bill for college, but every little bit helps.  Once or twice a year cash out the coins and put the money into a 529 or other interest earning account - that way it has a chance to grow and go even further.  If kids are participating this money could go towards their activity/sports costs or be savings for summer camp.

Gift Fund - I absolutely love to give gifts.  I enjoy thinking about what people want, shopping for them, wrapping.  Seeing the look on someones face when they receive a gift is so precious to me.  It's also a great way to not blow your budget when an unexpected or extra gift event comes up (weddings, baby showers, hostess gifts).

Giving Fund - One of the best blessings is the ability to bless others.  Consider saving coins all year and adopting a family at Christmas, or donating it anonymously to a family in need.  You could also decide as a family on a charity to donate it to.  This can be a great teachable moment with kids.
Here is a link with more information on donating a jar to others: http://www.squidoo.com/christmas-jars

There are tons of great ideas out there, these are just a few of my favorites.  I hope you are inspired ~ Lindsay