What to Do With Your Coin Jar Before Pennies Fade Away
With the penny phaseout approaching, many people are wondering what this change means for the loose change around their home. While pennies may soon play a smaller role in everyday transactions, the jars, bowls, and drawers filled with spare coins still hold real value. Now is a good time to decide what to do with them.
Put Your Change to Work
Once your coins are counted, give them a purpose. You might use the funds for everyday expenses like groceries or gas, or add them to savings. Even a small deposit can be a helpful boost.
Rethink the Coin Jar Habit
As pennies become less practical, this may be a good opportunity to simplify. Paying with your debit card or your digital wallet can reduce the need to collect coins and make spending easier to track. As more businesses begin rounding cash transactions, this approach helps ensure you pay exactly what you owe rather than having totals rounded up or down.
Build a New Savings Routine
If you liked the idea of saving without thinking through a coin jar, consider replacing it with Easy Save. With Easy Save, Horizon rounds up your debit card purchases to the nearest dollar and transfers the change from your checking account into your savings account. Setting aside a few dollars regularly can create the same habit without the clutter.
The penny phaseout is a small change, but it is also a reminder to take a fresh look at everyday money habits. A few simple steps now can help you stay organized and make the most of your money.