Step 3 – Save money from gifts and your tax refund, and collect spare change.

Do you always look forward to your tax return? Do you frequently get monetary gifts during holidays and birthdays? While it can be tempting to spend that extra dough, putting at least a portion towards your savings can save you a lot of heartache in the future.

For many Americans, a tax refund is the largest lump sum they receive all year – and adding all or part of that refund to a savings account is an easy way to boost your emergency fund. When you file your taxes, consider having your refund deposited directly into your designated savings account. You can also adjust your W-4 tax form so you have less money withheld and direct the extra cash into your emergency fund.

If you usually carry cash, all your spare change can add up faster than you think. So, if you often find your coin purse full, consider designating a special cup, jar, or piggy bank to deposit that extra change. Having a physical storage container can also help you easily set up a routine and build a savings habit – just empty your pockets each day, clean out your purse regularly, or hunt through your wallet. When the jar fills up, take it to the bank and deposit the cash.

Want to know how much you have? Our Spare Change Coin Counter can help you count your coins.