We all have a memory of keeping a piggy bank to store our money, and some people still love to do that.
All have different reasons, some save hundreds or even thousands of pounds to go on a holiday, want to buy a car or a new house.
However, Erin O’Meara, a sales executive from Frimley, showed that building up big savings using a simple trick is not impossible: putting every £2($2.60) coin received into a savings jar.
The savvy 27-year-old is saved £386($505) in a year for a house deposit by keeping the coins in a jar.
‘I came up with the idea as I saw my Dad doing the same thing when I was little,’ she explained, speaking to money-saving community LatestDeals.co.uk.
‘He always used to ask me to check my change to see whether I had any £2 coins and I could never work out why he would want them.’
‘It was only when I asked him for some saving tips that he told me that on January 1st, he gets tin and fills it up throughout the year (with only £2 coins) and empties it in the middle of December.’
Erin also decided to take the challenge herself, she was keen to not only save for buying a home and for traveling, but she also has a dream to open up her fabric store, Sip and Sew Fabrics.
‘When I opened the tin, I was amazed!’ she revealed. ‘It took a lot of willpower to not open it up and spend it on my lunches or petrol, but all I was thinking was about having my own home.
I’d say the main challenge is to find the £2 coins. Also knowing that there is money somewhere in your house… but you can’t get to it as you need a can opener!’
Erin wants to increase the amount the next year. She added: ‘This year I’m going to double the size of the tin and collect both £2 and £1 coins and see how I get on.
‘To anyone looking to save and try this out, I would recommend a small tin to start with and collect just pounds.
‘Once you have filled it up and opened it, put it straight into your savings and then try £2 coins! When you realize how much you have saved the motivation to get more is a real adrenaline rush.’
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