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Pound coins

Make a mint with pound coins

It will soon be the end for the traditional round pound coin, as The Royal Mint will be producing the final batch this month. The new-look replacement will be brought into circulation in 2017.

Saving up your pound coins is a good idea to help you get into the savings habit. You could put your pound coins into a jar for motivation – there’s something very satisfying about watching your money grow in front of your eyes.

If you saved a pound a day during 2016 you’d have a £365 bundle to start 2017 with.

What would you do with the money?

Pound coin challenge

At this time of year, it isn’t uncommon to feel broke with the pressures of Christmas. Our research showed UK adults were planning to spend £530 on Christmas last year, of which £218 was on presents. If you started saving £1 a day from the beginning of 2016, you’d have a solid present fund to dip into come Christmas time next year.

Or should you be thinking of how you can protect what you currently have? The average home has contents worth £45,000 and a contents insurance policy costs on average £109 a year – a good use of some of your £365 kitty.

You could also put the money towards a family holiday, or home improvements. The possibilities are yours for the taking!

 

Five ways to save £7 a week

Does it sound difficult? It doesn’t have to be. Here are five ways to find £7 a week.

  1. Swap shop-bought lunches – Popping out to get a sandwich can add up. Eat out once a week as a Friday treat and bring in packed lunches the rest of the time. This could easily put £7.00 back into your pocket.
  2. Skip the Friday night pints – These days, a glass of wine or a pint doesn’t come cheap. Skip one or two of these and you could easily have £7 for your kitty.
  3. Switch to own-brands – Can you really taste the difference between own-brand products and branded products? Or is your salon-brand shampoo really worth the extra money? Switch things up and you may be surprised.
  4. Shop in charity shops instead – We spend an average of £70.94 on our appearance a month, but taking a peek in charity shops instead could help you stay stylish and net a bargain
  5. Subscription blitz – Subscriptions and direct debits can add up, and it’s easy to let them slip without really considering whether you really need them. Think of your TV streaming service or magazine subscriptions – or even the gym. Do you really use them?

What do you think?

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  • Stuart neil porter / 31 March 2016

    If you learn the value of a quality bargain you may find you can shop around and get quality fresh at a tingling price. I find asda cheapest for fruit and veg in season and get gems in chosen for you all the time where as m morrisons is better for convenience ready meals and fresh meat. On the doorstep in Heaton gems come from unspect centres like chillingham road for specialities or heaton park road for sandwich shops or perks x. I find for juice and alcohol tesco has value and all brands but morrisons for red wine specials, three for tenner at asda to get drunk. Under one roof only sainsburys offers gari, jeera, coriander seeds and fresh coriander at lump for best price but who minds paying a couple of quid extra when fuel is over 665p pmgallon so shop wise by foot if you can if not quality and convenience rules so by car aldi vs lidl are king!

  • Alison Rood / 31 March 2016

    Try saving 1&2pence coins not really missed and they add up can't afford to save £5 notes! Also if you are ever in Southport try the lifeboat charity shop v cheap,great cause and Kath who runs it is lovely.

  • Peter Laskey / 30 March 2016

    Shopping in the charity shops of Uppingham and Oakham would certainly not save you money

  • manoj ladva / 30 March 2016

    There's people out there who can't even afford to eat everyday and there's people on this government website talking about saving money up for a mobile phone or buying bonds OMG

  • manoj ladva / 30 March 2016

    There's people out there who can't even afford to eat everyday and there's people on this government website talking about saving money up for a mobile phone or buying bonds OMG

  • Gary / 29 March 2016

    Sell the kids

  • Tim McRostie / 29 March 2016

    Get a sack of potatoes in, they are so versatile, try cheese and potato mash with fried eggs.

  • Ann Gibbs / 29 March 2016

    Saving is easier said than done if you have the money but not if you have to struggle to live from day to day. Those who can afford to save should perhaps consider giving their small change to the beggars who can't.

  • Dy Brown / 28 March 2016

    For many years I have used washing up liquid as a shampoo. My hair has never suffered. After all any shampoo whether cheap or expensive is simply an industrial product with a suitable perfume depending on what the finished product is.

  • Christine McLean / 26 March 2016

    The first thing you should do is to save first. That means when your salary or wages are paid, take some out and put it in a different account. when the end of the month comes, you won't have missed it. However if you try to save at the end of the month, you will have spent it. Ask around your friends and see if they can tell you what the money went on? They won't know. By the way I also save pound, coins, 2 pound coins, sliver and copper all in different piggy banks.

  • David Sands / 21 March 2016

    If you saved a pound a day throughout 2016 then you'd have £366.00 by the start of 2017 because it's a leap year.

  • Doreen Tussell / 21 March 2016

    Have a face to face chat for 2 minutes every bed time with your mother it costs nothing but means thousands to her

  • Sue Bradford / 20 March 2016

    I knew someone who opened their wage packet a day later each week. Week 1. open on Friday.
    Week 2. open on Saturday.. She kept going to following Friday..and had 2 wage pacjets to open. She saved one. Could be adapted to todays monthly payments.

  • Andrew Roberts / 19 March 2016

    You should all switch your gas and electricity to Ecotricity the cheapest terrify out there. Save a mint

  • Chris kerrigan / 18 March 2016

    A good idea try cutting out needless spending on thing's you don't need

  • Paul / 17 March 2016

    Hi, I've got a huge China Piggy Bank and whenever I have £1 coins or £2 coins in my pocket daily I put them all in.

    I also put 50p coins in another and have a huge bottle for all other coins.

    Last year I had over £1500 which paid for Christmas and towards holiday spends.

    It works to not keep any change... Try it!!

  • Simon / 17 March 2016

    Every time I gets a £2 coin I put it in a jar. You don't get them that often and you don't need to save many to build up a decent amount. Much better than saving coppers or 5ps

  • Dave Williams / 16 March 2016

    You are right Stephen, my wife and I are so badly off it's not true, I'm 57 and had a nervous breakdown at 55, my wife is 62 but doesn't get her pension until November even though she got made redundant last November with a pitance after 20+years. Together we have 71 years of NI paymen s and we are treated as scum by the DWP.

  • stephen heath / 16 March 2016

    don,t save at all because when you are old you will be penalised i saved i am taxed on my pensions i will end up selling my home that i have worked hard for over many many years .Wasters will get all the help going and the imports will get everything and not having paid a penny into the pot 'saving is a mugs game nowadays

  • Lydia Windsor / 16 March 2016

    I watched a mum shopping with her children clammering for sweeties etc. She put back what they put into her trolley. She worked on her budget. Bet she had priced out what she could afford. Bless her : she had discipline an admirable quality. Lydia

  • Gilly / 15 March 2016

    This is a very good idea, pretty painless saving, in fact. However, one thing I learned recently is 'don't have savings if you have debt'. Pay debts first; then save. Pay as much as you can into credit card debts, then any other debts and finally, try to overpay your mortgage if you can without penalties. The less you owe, the less interest is added to your borrowings.

  • Gilly / 15 March 2016

    This is a very good idea, pretty painless saving, in fact. However, one thing I learned recently is 'don't have savings if you have debt'. Pay debts first; then save. Pay as much as you can into credit card debts, then any other debts and finally, try to overpay your mortgage if you can without penalties. The less you owe, the less interest is added to your borrowings.

  • Robert / 14 March 2016

    You could use the money saved to buy premium bonds and watch your money accumulate.

  • Mark Francis / 13 March 2016

    I think you are being patronising.
    I would not take advice from the Government about managing my personal finances or else I would stop feeding my child in order to buy weapons.

  • mo west / 13 March 2016

    don't often see £5 notes. So decided to save them. To go into my smartphone up grade fund.Over 18 month I saved £405. Sold my old mobile. It covered the cost of my new mobile.

  • Shirley Miller / 13 March 2016

    Urge new savings plan going round is to save each day of the calender year! January 1st is one pence and build up from there. January 31st is 31 p . Feb 1st is 32p and upwards. I add up weekly. Now in March I have over £40. At the end of the year over£600! It gets expensive as the year goes by but I'm giving it a go !!!

  • GT / 13 March 2016

    Useless

  • Mike Godfrey / 8 March 2016

    Whilst waiting for the wife I popped into a charity shop just to have cursory look at men's shirts. I discovered a row of perfectly usable shirts I bought an Italian shirt for £4 which in M&S would have cost about £30! I am not tight I am 76 and careful with our money!

  • colin kirk / 8 March 2016

    Good idea going to start saving pound coins

  • jo blogs / 7 March 2016

    i put a 10 pound note in a box every week sometimes more one gets bigger results

  • Thomas Taylor / 5 March 2016

    Its a fantastic idea

  • Rod Munro / 3 March 2016

    I fill up my empty tooth-tablet tubes with one pound coins...Each holds on average £50 so I get £600 a year...! Very satisfying mini-weights when you pick 'em up..... £2 coins go into a different tube...! (Custom made on my lathe.ha ha ha..!)

  • Sheila oulaghan / 30 January 2016

    I do not think charity shops are cheap

  • Sharon Harding / 22 January 2016

    I'm not falling for the trap of the latest phone, has my contract nears the end I'm just gonna get a SIMM for a fraction of the cost and just use my old phone. I will be saving £30 a month it all adds up.

  • Sharon Harding / 22 January 2016

    I saved my pound coins during the year I wouldn't touch them no matter what in December I counted the stash up I'd saved£1300 pound I opened an account towards a new car

  • Christine McDowell / 20 December 2015

    The ideas are very good especially saving a pound a day. I would suggest, if you eat out with friends regularly at restaurants, why regularly take turns of having a meal at your house or a friends house. This will over the year should save enough to buy all the Christmas presents.,