Depending on what methods of payment you use there are primarily two ways to use your loose change to create wealth in such a simple way you will hardly even notice you are doing it.  By the way, the sooner you start this habit the better.  Don’t listen to anyone who tells you not to start saving when you are young.  There is no better time to do it because of the power of compounding.


If you still use notes and coins, put all of your loose coins in a jar whenever you have any unless you need them for car parking or other minor expenses.  Even then I would use either a card or an app instead.



If you happen to be going near a Metro Bank branch, take along your coins, chuck them down the Magic Money Machine hole and have the money automatically credited to your Metro Bank account.  Job done.  Guess or calculate the value of the coins and you will win some children’s small prizes which you can give to youngsters you know including your kids if you have any.



Get an app like Money Box which has a round up facility and link your bank account to it.  Ideally a Metro Bank account or your own bank account.  At least once a week check your round ups and agree to all of them.  A round up facility is where all of your online expenditure is rounded up to the nearest pound meaning sums from as little as a few pence up to £1 on each and every bank transaction will be saved into your chosen investment account automatically.


In my experience, this is an effortless way to save money without even thinking about it.  It doesn’t even feel like you are saving money because those loose coins and round ups are so small.  You could easily save £50-£100 a month without even noticing it. If you had to consciously save that kind of money you may not want to do it.



If you were to save £100 a month initially and increased your monthly contribution by 10% a year then after 40 years you would have accumulated £1,302,265.43 assuming an investment return of 7% a year net of charges.


Kick it off with a £10,000 deposit at the start and you end up with a cool sum of £1,465,379.55.


This is what I mean by compounding. In other words, earning interest on your interest, much like a snowball rolling down a mountain, accumulating more and more snow on the way until it grows into a giant snowball.


This is the easy, patient and effortless way to save money and become a millionaire.  So what are you waiting for?  Turn that loose change into a money-making machine.  You know it makes sense.*


*Risk warning 

The value of investments can fall as well as rise. You may not get back what you invest. This blog is based purely on my personal opinion and experience. You should always seek advice from a professional before investing your money. The contents of this blog are for information purposes only and do not constitute individual advice.