Saving Cash for a Rainy Day
What’s the best way to save cash? Not money in general, cash. Many of you will say that they haven’t been using cash any more, but it’s a great way to encourage saving, as you can actually feel it piling up.
For me personally, saving cash itself has always been the way to go. I get to feel my progress, I feel it when I spend it so I spend less, and I get to hang on to money itself – not some card created promise of invisible money. For that reason, I’ve assembled some advice.
Experts vary on their advice, but this article is going to go through some of the best ways that you can start saving today.
If you aren’t a fan of money, invest in gold or silver. Some people prefer this, it doesn’t really change the amount you’re saving, just the way it feels when you check in with it. To each their own I guess.
Use a family money tin
Try this, every time you come into the house with change, empty it into a family money tin. This money can be used when the tin is full, or in severe need. This creates a savings game of the whole thing, how much money is actually in there is up for debate (who knows what change is dominating in there). It’s also a fun way to get the family involved, maybe saving for a family vacation?
Make the family money tin a glass box
This furthers the family money tin strategy by making the cash less removable. Once the cash is in there, the only way it’s coming out is by breaking the bank (literally). This removes some of the temptation to spend savings, even when you can feel them piling up.
The fish tank
Another variation of the family savings plan, this involves buying an aquarium and only putting $2 coins in it. Just $2 ones, as when it is full, it’ll be like a treasure chest. You’ll have your own treasure chest.
That does sound rewarding…
Never spend $5 again
Select a bill, I’ve chosen the $5 in this instance, and promise yourself you’ll never spend it again. I don’t mean that it can’t be used, but that you’re going to save every single $5 bill that winds up in your possession. This is a quick trick that adds up the savings quickly (imagine if you promised never to spend another $10).
Prepare for the worst
This is a bit of an extremist technique, often best for people who really struggle to save. It should be used only by people with a great memory, as it relies on burying your money in the backyard, in case of a doomsday like event.
While it does guarantee your savings, I personally am extremely nervous about the prospect of losing money that I’ve hidden successfully from myself, and don’t necessarily advocate this technique.
Tuck it under the mattress
This is a tried and true old fashioned way of saving money, tucking their money under mattresses. While this is technically saving cash, it isn’t the safest way to protect yourself from robbery or house fires, and perhaps the savings would be safer in the bank.
These savings methods are really just fun ways of encouraging yourself to save cash. Do what works for you, what motivates you to save actual money.