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  • Saving Change?

    Article Source: Kdebt.com

    Friday, 11 January 2008

    Ricardo
    Do you save and roll change? I do, and I deposit it into my checking account. I know some people who use this as a vacation fund.

    I think I've mentioned it in another thread, but I'm amazed that people use the machines that charge you to process your loose change.

    sandalwood
    Believe it or not, saving change is one of the most offered suggestions on saving money. Chances are excellent if you saved your change you would have close to $30 at the end of the month. Let's assume you only have $20 instead. Let's also assume you invest it every month and you get a return of 7% annualized.

    How much would you have at retirement? I'll let you do the math on any financial calculator you wish.

    Keep in mind, if you actually did this, the amount at retirement would be over and above all of your other retirement checks.

     
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