MSR Mary's Favorite Way to Save!

Do you have a change jar at home or in your car?  Then every now and then you bring the jar into the credit union and cash in all your change.  Amazing how much it all adds up to, isn’t it?  Just that little plastic container could hold over $50!!!  Imagine that!  Even after you had to take quarters out to go to the laundromat!  But have you noticed lately that the change isn’t adding up as fast? Probably because you’re using your debit card more often.  You don’t get change back from your transactions with the card. Now you can! Did you know that with your debit card there is a way to add up all that extra change again? 

It’s called the Debit Card Round-Up, and here’s how it works: Say you go to McDonalds for a large soda, the bill is $1.06 and you use your debit card (don’t laugh, I’ve done it).  McD’s gets their $1.06, but then the debit card rounds your purchase up to the next dollar (so that’s an extra $0.94) and puts the ‘change’ into another account – that could be your savings account, or your kids account, or even your grandkids account!  You could even open up a club account – name it RoundUp or ‘Today you saved’ and see how it adds up!

Here's another example: 

$3.54 at JoToGo                         $0.44 transferred to savings.

$15.78 at Kwik Trip                    $0.22 transferred to savings.

$75.98 at Shopko                        $0.02 transferred to savings.

$53.14 at The Pancake Place.      $0.86 transferred to savings.

Adding all that up – 44 cents from JoToGo, 22 cents from Kwik Trip, 2 cents from Shopko and 86 cents from the Pancake Place totals $1.63.  You’ll see a line in your checking account that says:  Today you saved $1.63, and all that goes to the account you specified!!  Think how often you use your debit card in a day and realize all that ‘change’ can be put to a savings account! 

Now, are there any restrictions on using that money?  Nope, it’s still your money to use as you want.  So every month you can add it all up and spend it, or put it back in checking or just leave it alone to build up, maybe for vacation?!

Post by: Mary D.