Pennies, nickels and dimes soon add up to ... a vacation

By Steve Rosen
The Kansas City Star

E-Mail

Comments (0)

Text Size:

tool goes here

It's not a Roth IRA or a 401(k), but the money still adds up.

I'm referring to my vacation kitty.

Every day, I empty the spare change from my pockets, sweep coins off the kitchen counter, and pinch every penny rolling around in the washing machine. I also keep a sharp eye for shiny coins during my walk from the parking lot into work. Every last penny, nickel, dime and quarter gets deposited in a glass jar or burlap sack that I keep in my closet.

The payoff comes during our family vacations. Before leaving town, I make the pilgrimage to the bank and trade those cold hard coins for bills. I can usually count on about $400 -- money that I've spent on a rental car, a snorkel trip, or other "special" family fun.

When the vacation's over, I start building the kitty from scratch again, freshening it with whatever spare change made it home from the trip. I've been doing this for about 20 years -- with some help from my kids -- and it works.

While summer vacation season may be officially over, it's never too soon to start planning for a holiday trip, spring break or next summer's marathon drive to Yellowstone.

I suggest creating your own vacation kitty and pooling money from all family members. In lean times or good, it's OK to ask your kids to chip in on the vacation budget. It's a great way to frame a discussion with them about setting goals, saving money and making choices and sacrifices. If age appropriate, explain how much money Mom and Dad can afford to set aside, how much more is needed and how the family is going to accomplish the goal.

As your children see the coins slowly piling up, it might motivate them to hold a garage sale or sell some unwanted toys on eBay to raise additional funds.

There's another piece to this: If your children are going to make some financial sacrifices, it's only fair that they help decide how to spend the money -- be it on horseback riding, roller coasters or the rental convertible.

No matter how tempting, don't raid the vacation kitty to cover the monthly cable or cell phone bills, or even to wash the car.

This money should be totally dedicated to your vacation, not the family operating budget.

Lest you think I'm eccentric, I have a friend whose spare-change ritual one-ups mine.

Every August, a year in advance of his trip, he lines up six plastic drink cups on a kitchen counter. Over the next 12 months, he fills the cups with every bit of change he can find until it's time to cash in and head to Colorado for vacation with family or friends.

"I've been doing this for 18 years and it's kinda fun," he said. "These are memories you're creating with your family."

Write to Steve Rosen at srosen@kcstar.com.