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How about you all? Do you have any effective, or even quirky/creative ways that you save money?
- I love the idea of using your loose change to get your son interested, and more importantly, started, in saving and investing.
- One thing I might do differently is to use the opportunity to teach him about the miracle of compound interest by investing the loose change in low-fee index mutual funds. The return and risk are higher, but due to his long-term investment horizon (because he is so young), he would have potential to have more money in the long run.
- I thought I was the only one that had so much fun picking up random loose change on the sidewalk and in parking lots!
- One good place to find loose change “gems” is at a laundromat! You’d be surprised how many people drop coins at that type of place!
- It’s interesting to hear you mention finding unclaimed assets! I actually just read about how David Back recommends doing that as well in the book, Debt Free For Life. Pick up a cheap, used copy of this book from Amazon if you all haven’t done so yet! It’s well worth the read.