The Grown-up Piggy Bank

What's the first way you were taught to save money? I'm guessing it was either a piggy bank or something similar. How old were you? Don't remember? Yeah, me neither.

Well, whether you were three or thirty, you're never too old for a piggy bank. Of course you're an adult now, so let's step it up to a "savings jar." Lots of people keep jars around for loose change, but if you really want to start saving money, you have to go it a step further. 

This idea was somewhat inspired by The New Girl's "Douche Bag Jar", however, since I'm the only adult in my house and I'm really quite lovely, that kind of jar would remain empty. :) 

Instead, I decided that any time I was tempted to go out for fast food, stop at Starbucks for coffee or go anywhere else for something I already have at home, I would stop myself. Then, when I got home, I'd take the money that I WOULD HAVE spent and I put it in my savings jar. 

For this to work, you need to get used to paying for things with cash. At the beginning of every week, set a budget for yourself and take out that much cash. Only use your credit/debit cards or checks for things like bills or necessary purchases. All personal splurges should be paid for with cash (or in this case, foregone, so that you can add the cash to your jar.)

After you've made your jar, come up with a specific goal that you are saving for. Write that goal down or print a picture, and tape it to your jar. This will help you keep your eye on the prize. For example, I'm saving to take a class at the community college next semester, so I taped "IVCC Spring 2013" to my jar. 

Keep your savings jar somewhere that you can see it. If you trust your family not to steal from it, keep it in a central place, so that they can all reap the motivation of your efforts. If you don't trust them, or you're afraid of theft in general, keep it somewhere secret.

The only time you should ever remove money from your savings jar is if you meet your goal, however it is nice to have the money set away in case of an unforeseen emergency.