I have a habit of tossing my loose change into a box on my dresser at the end of every day. The box, which I bought at a Hopkins Spring Fair, looks a tad like an old pirate chest. Even more so when I have it filled with silver coins. I put the pennies in a glass jar next to it that I won from McDonald’s Monopoly game years ago with Mr. Moneybags stenciled on it. When the Mr. Moneybags jar gets full I take it to the coin machine at the grocery store and use the receipt for my groceries. When the pirate chest gets full I transfer some of it to a cigar box and put it away. I also take some money from the ATM out of each paycheck and put it in my safe. It’s good to have a cash reserve on hand in case…for example…you lose your ATM card, like I did last year. When the cash reserve goes above a certain amount I take it to my credit union and put it into my savings account there.

The cash on hand amounts to a “rainy day” fund. Something for unexpected emergencies (like a lost ATM card). But more insidious are the routine expenses that all phase together and turn in to a monster wave of expenses. This happened to me this quarter and my upcoming vacation was suddenly at risk of being cancelled.

There was the thousand bucks spent on the Mercedes since it needed an ATF flush which was $450 in addition to the $500 90k Service. Then there was the $1400 flat roof maintenance on Casa del Garrett. There was the $860 for six months of car insurance (NOT State Farm anymore!). I spent $500 for and eye exam and new glasses. Then my next door neighbor insisted we finally get the ivy off the space between her sidewalk and mine and my share of it was $400. The gardener did a really nice job and at some point I’d like him to finish the rest of my front. But I hadn’t planned that one and I’d have wished the others came a tad further apart.

So yesterday I took the two cigar boxes I’d filled since the last time I needed to raid the cigar boxes to my bank. There was about two years I think of loose change there.

How many people can say they love their bank? I love mine, which was founded by Quakers in the 1800s. They like to boast that during the Great Depression when the Feds declared a four day bank holiday they  were  allowed to reopen after only one day because they were so secure and solvent. I can believe it. You get a sense of how companies are by how they treat their customers and how happy their employees are. And after how the big megabanks behaved during the Bush economic collapse I came to love my local regional bank all the more…and especially that they have not allowed themselves to be gobbled up.

They give great customer service…including letting me bring my cigar boxes full of coins to them occasionally and handing me back a deposit slip without taking a fee or demanding I roll all the coins first and write my account number on the rolls…like one bank I used to be with ages ago (it was one of the locals that allowed itself to be gobbled up into one of the megabanks). One time I took 13 cigar boxes to my bank and got a slip back for just over three grand. This time, bringing them two, it came to just over $450.

That, plus the cash from my safe, basically saved my vacation. Oh I could have just shrugged and put it all on the card, but I’m at a point in my life I want to be paying down debt, not adding more. And besides, I can’t enjoy a vacation if I’m worrying about what I’m spending all the time.

Rainy day money is good to have. Even better is a habit of putting money aside, even if all it is, is just some random loose change. If you put it away and forget about it it’ll be there for you when you need it. I don’t think I’ve ever dropped more than a dollar in change into the pirate box at the end of a day. But one day I took 13 cigar boxes to the bank and got a deposit slip back for just over three grand. That was probably something like ten years of loose change, but it came in handy when I needed it.