When I was younger, I remember my grandmother would put her pennies and extra change into these little paper cylinders and then stack them up in a box. I was always astonished at how quickly a few pennies could add up!
Teaching kids how to save their pennies is one of the most empowering skills to instill in our children. Learning the value of a penny will go a long way. So, I decided to bring back my grandma’s good old fashion way of saving! Anya and I have made a pact to be intentional about saving our pennies and loose change. Just from emptying my purse and car, we already have about $25.00! Can you believe I had $25 extra bucks just hanging around and didn’t even know it?
I was also inspired by listening to a podcast from Donna Otto. She started saving pennies and eventually saved enough (over a 100,000 pennies) to pay for her daughter’s wedding dress! That’s amazing! So, we decided to save all our loose change until Anya graduates from high school which is another six years. We haven’t decided on how to use the money, but some ideas have been to put the savings toward a European mom/daughter trip, a cushion for her to use at college, or a mission trip.
Wrapping your family’s pennies is a fun way to collaborate on a project together that not only teaches them the value of saving but saving and reaching a goal.
Here are 5 Simple Steps to Get Started:
- Purchase Some Coin Wrappers: We bought an assorted bag from Walmart for about $1.50. You can find them at the Dollar Store, Target, or office supply stores.
- Go on a Change Hunt! When you first start saving go on a fun change hunt with the kids! Look everywhere for loose change, the car, purses, under the bed, in the couch, in coat pockets, or anywhere you can think you can find some pennies!
- Created a Designated Change Jar: After your change hunt, put all the change in one jar. Make it a practice every day or at the end of every week for everyone to put their loose change they have or find in the jar.
- Insert the Change in the Wrappers: This is the fun part! Give everyone some change and let them put it into the wrappers!
- Decide on a Family Goal: What will you spend the money on? This goal should be agreed upon by all your family members and motivate you all to get saving!
Keep a running tally of how much you save every month on a chart so you can measure your progress. This will keep everyone inspired and excited. Not only will your kids get into the habit of saving money, work toward a family goal and learn the value of a dollar or should I say penny!