Updated: August 22, 2011
I was putting some coins in my piggy bank last night when I realized it’s already full (again). Yay!
So I immediately took it to my work desk and counted them, all the while wondering how much I was able to save this time.
What I have is a Picky Piggy Bank – a place where I put only a specific coin denomination, which makes saving coins a little bit more fun. 😀
The last time I opened my piggy bank was in November 2010, wherein I was able to save P2,085.00 worth of 5-peso coins within five months.
This time around, it took me around nine months to fill it. It took a little longer because I changed my coin saving rules.
Last time, whenever I come across a 5-peso coin, I was NOT allowed to spend it because it should immediately go to the piggy bank at the end of the day.
But this time, I allowed myself to spend them, and use the coins as needed throughout the day. This made it less “difficult” to save because I didn’t have to be conscious about what I give whenever I’m out.
Thus, for this period, I only had two basic rules:
- Spend normally, but at the end of the day, all 5-peso AND 10-peso coins MUST be put in the piggy bank.
- Whenever I come across a NEW Philippine Peso bill, I am not allowed to spend it and MUST be saved.
Notice the addition of the 10-peso coin and the new Philippine bank notes to my saving rules. I know a lot of people who have also been saving the new bills and I thought, why not do the same, right?
So how much was I able to save this time around?
The coins, a mix of 5-peso and 10-peso coins, summed up to P2,155. While the paper bills amounted to P1,030. Which gave me a handsome total of P3,185 in savings.
Not bad I should say, considering that it took very little (and almost unnoticeable) effort on my part to save that much.
The next question now is, where is all this money going?
Well, I’m planning to open a BDO Investment Fund soon, so this amount will definitely go there.
How about you? Do you have a piggy bank at home? How much have you saved so far?
Get more personal finance stories like this by subscribing to Ready To Be Rich.
Good saving tips Idol…Nakakatuwa naman un piggy bank mo…I should try that someday =D ako ksi inuubos ko muna yun coins as much as possible ayaw ko galawin un paper bills hehehe =) kya wla ako mailagay sa piggy bank
I’m doing this for the past 4 or 5 years. I start saving every January then I open my piggy bank every December just in time for buying gifts for Christmas. It helps me on my expenses come Christmas season. 🙂
may ganyan po ako before hininto ko rin kasi parang nare-realize ko na medyo umaabot ako sa point na inoobliga ko ang aking sarili. nawawala rin ako sa sarili kong system tas paranng nakakaipon ako pero napapagastos din ako. (hilarious but i spend bills para makapagtago ng coins. hahaha)
Panu po ba mag-ipon ng hindi nabubutas ang alkansya? o kaya hindi lumuluwang ang hulugan ng baray? 😀
ang ganda nmn po ng strategy nyo to save sir..;D
Hi, I actually am a VERY big fan of yours, even before I ventured into blogging myself. So you can probably imagine my fingers kind of twitching a little while typing this comment. 😀 I used to do the same practice, feeding coins in a piggy bank, and the last time I opened mine, I actually was able to count a total of Php4,100 in five and ten-peso denominations in a span of six months. Indeed, it was an easy and fun way to save. However, I put that practice on hold [please note the emphasis on ON HOLD] when I came across an article on Yahoo! where the Central Bank is asking Filipinos to stop coin hoarding. I didn’t want to believe that putting coins in a piggy bank was considered coin hoarding at all, but a little digging here and there actually put the practice under that category. I have written a blog about this. You might want to check it here: http://careermomonline.blogspot.com/2011/08/are-you-guilty-of-coin-hoarding.html. Thank you, and more power to you and your blog!
I also keep a piggy back. But I longer keep coins since after 3-6 months, it just amounts to a few thousands. I have kept bills instead and the savings are bigger. It also encourages me to save more than just coins. After 6 months, it’s more than 10T which is a lot for shopping or placing them in a bank until a good mallwide sale arrives.
Nice! I also do similar to your ways pero hindi po ksi uso ang coins dito sa saudi. what i do is that i have my daily budget, daily allowance more than enough to survive my daily life which is 10 riyals only. most of the days i only get to spend for my transportation which is 4 riyals because i usually bring my own baon 🙂 and whats left should go directly to my piggy bank. 😀
God bless and more power!
nice nice!!! I love your container!!! PRINGLES! hehehe 🙂
gusto ko sana ng mag-piggy bank din, kaso nagrereklamo ang bangko sentral kasi kumo-konti yung coins sa circulations…. hehehehe..
I’m also doing that kind of strategy. For me, I only save 10 peso coins. At the end of the day, all 10-peso coins I get goes directly to my “angry bird” coin bank. Sometimes, I deliberately ask the bus conductor: manong, pwede puro diyes ang sukli? And I immediately put these 10peso coins to my coin purse (that part of the jeans intended for coins), sometimes, when I buy something from the sari-sari store, I also ask aleng Nene: “Nang,puro sampu na isukli mo sakin (with a smile). Well, last month, when that coin bank was full, I opened it and lo and behold, it amounted to 7,000 pesos. I was amazed, totally. I used the funds to open my BPI account. And that’s what I will be using to fund my COL account this month, sweet:)
I keep one in the car and all my 10 peso coins goes in there. Its a small piggy bank so it becomes full in a short time, but at least I can get to almost a thousand in one full piggy bank.
Hmmm I suggest para walang guilt about coin hoarding after reaching P1000 worth of coins pwede nating ipapalit yun sa mga fx/jeepney drivers. Kasi marami sa kanila wala panukli pag umaga :)) Then we can deposit yung P1000 sa UITF 🙂
Anyway I would like to congratulate everyone for our desire to save and invest 🙂
Got the same coin saving rule, I just emptied mine and found that i just saved Php2048. Such a joy counting those coins and getting surprised that it was that much already.