Change Jars: Your Ticket to Getting Rid of Your Debt
Many people have trouble budgeting - they get into debt, and
they just can't find a place that they can cut out the spending.
If you're having trouble doing this yourself, consider a "change
jar." Get a jar or container of some kind and stick it on the
table next to the bed or the door. Every day, contribute
something to the jar.
It could be as little as whatever change you have in your
pocket. If you think you can stick with it, shoot for something
higher. Put in a dollar or two every day, and just don't touch
it. At the end of the month, you'll have racked up quite a bit.
Take your change down to the bank or to a converter machine and
turn it into cash - then, no matter what, use that money to pay
down your credit cards. Taking it to the bank probably makes the
most sense - you'll already be there, and you can resist the
temptation to go spend the money on something else. You can get
coin rolls, or see if you can find a bank that has their own
machine. If you are willing to roll the coins, do it - it'll
save you the ten percent fees machines charge.
What if you feel like spending the money earlier? Don't. It's
extremely important to maintain discipline - getting out of debt
is just like a chore. You have to do it, and you have to do it
every day. If you start to slip, you need to buck yourself up,
or you'll be in credit card debt up to your eyeballs forever.