8 Brilliant Uses for Spare Change

When you’re a kid, collecting spare change can be a fun adventure. You can search for it under the couch cushions, in the dirty laundry piles, and in the car cup holders.

It’s extra money on top of your allowance to buy candy or something else that’ll bring a smile to your face.

Why let that excitement end just because you’re an adult? Here’s a look at eight brilliant uses for spare change to help you get ahead financially .

1. Have fun rolling it

One brilliant way to use that spare change is to involve your kids. You can work together to roll that change and make a party out of it. It’s one way to give kids a sense of fun when they’re saving money and being financially smart.

It’ll also be helpful to your finances since most major banks only accept coin rolls, not coins, which you can bring in your coin jar and dump on the counter. Your bank may even give you coin wrappers for free.

2. Teach your kids about money

This can start with rolling your coins for the bank. According to Dollar Car Rental, “They can practice basic math and help you save at the same time.”

You can even make it more fun by saving as a family. You can all put your spare change toward a common goal, like an amusement park trip or a visit to the movie theater. By doing this, your kids will learn how to sacrifice temporary spending for a later reward.

3. Start a savings account

This could be a regular savings account or an emergency fund. After all, many Americans don’t have an emergency fund and can’t easily afford urgent situations.

You can avoid facing this situation by making good use of your spare change. You can even plan to take your piggy bank and spare change to the bank and deposit it into your savings account every three months or so.

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4. Donate to charity

Your favorite charity is probably happy to receive your spare change, which can also be another reward in itself.

You save throughout the year, keeping in mind the charity you want to help, and then you have the good feeling of a job well done when you donate that money.

5. Save for the holidays

If you’re a fan of the holidays and like to give lots of gifts, setting aside some spare change to do this can be fun. You can put that spare change somewhere safe to give yourself a head start on your holiday budget.

You could even use the holiday money you save from spare change to buy a gift, such as new board games or a dessert maker, that the whole family will enjoy.

6. Open a vacation fund

Imagine it’s the end of a long day, and you’re putting your spare change into a jar that’s housing your vacation fund. Your mood is lifted as you put more money toward that getaway you’ve been looking forward to for months.

If you’re perhaps not a great saver yet, maybe you’re saving for a weekend getaway with friends or just to pay for the hotel for your exotic vacation. Whatever your plans, this can be a great way to save and boost your mental health.

7. Create a future fund

Here’s a way to personalize how you’ll use that spare change. You could decide to create a future fund for yourself. This could mean saving your spare change to help pay for college, a hobby, a special purchase, your daily coffee, or whatever brings you joy.

You could even make this part of your overall financial planning. You could include it in your written financial plan for how you'll spend and save for the year or years to come.

8. Pay it forward

Why keep that spare change for yourself? You could use it to help someone else in simple ways. Let’s say you keep change in the car. You could pay the highway toll for the person in the car behind you, or you could pay for the drive-thru meal for the customer who’s next in line.

Perhaps when you’re at your favorite coffee shop, you could use the spare change to help the person standing in line behind you. These random acts should help brighten a stranger’s day and boost your own mood.

Bottom line

It may be time to stop letting that spare change go to waste or take up space. You can find ways to help yourself and others with those loose coins.

One approach might be talking to someone at your bank. There may be options to open a savings account or enroll in a program where you can use your spare change to boost your finances .

Money tips that can work for everyone

No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.

Focus on paying off your debt . Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.

Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.

Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).