It is not new to everyone that the wealthier we become the easier it is for us to say "keep the change" because we feel we have so much more and a couple cents or dollars won't matter. The fact is it does because without realizing a lot of people have thrown away dollars in the process of feeling fly and cool. Other than tips and charity jars in stores, if you take an hour to calculate the amount you have let go of under the "keep the change" umbrella you would be surprised. Most of us do this while we are in green but when the money starts disappearing we wonder what exactly we did with them and offcourse the more we earn the more loose change we tend to throw to the wind.There are so many things you could do with your loose change if you allow it accumulate overtime just like the saying, small drops make a mighty ocean.
First you could save for the holidays. Rather than waiting until your kids or your spouse start to remind you or even the Christmas decorations on the street you can start earlier by saving your loose change. Since it's a long term savings by starting early you would have more money at the end and be able to cover more grounds. While it is very much possible that you don't meet your target, it would still be easier to just add more money to the savings rather than not having a dime at all. Even if you would have money around the holidays, by saving your loose change you would be able to get more valuable and beautiful gifts for your loved ones. Not just for holidays but for vacations as well. We all know the cost of some vacations can be pretty expensive most especially when you have a large family. By saving up loose change with your family it would be easier to meet your goal and also easier to go on vacations.
Secondly you could start saving for emergencies. There's no telling when the rent would rise or when you could loose your job but by saving up now that you have you would be preparing you and your family for the future. It would be easier to get over challenges unlike not having a dime and you wouldn't have to take a loan that would send you bankrupt either. For this to work you have to be consistent over time.
Savings could also open doors of investment opportunities. I am not talking about savings for 6 months but rather saving your loose change for years, perhaps a minimum of 2 years. With consistency your loose change would have accumulated to thousands of dollars which can help you go into an investment later. You would definitely thank yourself years later when this investments bring nice turnouts.
For parents it would help you teach your children how to save at a young age. That way they won't grow up to be extravagant people who can barely go through with financial decisions. Give them rewards for chores or good behavior and then teach them to save it up for later. They can easily buy school supplies or treat themselves to something nice from time to time and also teach them the benefits of delayed gratification.
It is important to note that saving up loose change is not a ticket to become a miser or to avoid charity.