Build Your Saving Using The Modified Swear Jar System

Hi everyone, thank you for coming back to my blog. I hope you found my last blog interesting and useful, where I went through ‘5 Financial Mistakes Made By Young Couples’.

In today’s blog, I am going to cover a new system you could use to save money because there’s no need to completely adjust your lifestyle in order to save for either a short or long term savings goal. You can slowly, but steadily add to your savings by using the modified swear jar system to add to your savings each and every day of the week.

What is the Modified Swear Jar System?

In short, the modified swear jar is the adult version of “if you say a swear word, you drop a pound into the swear jar” a rule most households have in place to stop their kids from using bad language.

However, rather than dropping money into the jar each time you swear, you drop money into the jar each time you mention (or have recurring thoughts of) your savings goal. As long as your savings goal is important to you, you’re going to express quite a bit of verbal lust, and then enjoy the game as you focus on your savings!

If your goal is less than £500, you may be able to use an average sized jar. However, for a more sizeable goal, you may prefer to use an oversized flowerpot to stash your savings.

How to implement the system

First and foremost, it’s important to understand that simply dropping coins into a jar will take you ages to achieve your savings goals. You’ll most likely need to up the ante and start placing notes into your jar instead.

Generally, £5 or £10 notes are small enough that you may be able to comfortably drop a note into the jar once or more each day without feeling a financial pinch. But if finances are tough, you can start by placing £1 into your jar each time you mention your goal.

Try these additional techniques for growing your savings with the swear jar system:

1. Choose your denomination

Choose your denomination between £1, £5, £10, £20 and £50, and stick to it.

If you need to drop £10 into your jar and only find that you have smaller notes, or even coins, place as many notes and coins as necessary into the jar until you reach £10. It’s okay to place different notes into the jar as long as you’re putting in the amount you planned.

2. Set a minimum

If your goal is something you wouldn’t talk about on a daily basis (such as new French doors), set a minimum deposit for each day.

For example, if your denomination is £20, vow to drop a minimum of £20 into your jar at the end of each day, regardless of whether or not you mention your goal. At the end of just the first month, you’ll have saved a minimum of £600 into your jar.

3. No cheating

Make it a strict rule that you must make a deposit into your jar each time you mention your goal. If you let yourself off the hook once, you’re more likely to do it next time and thereafter.

If you routinely talk about your goal throughout the day and feel that a £5 or £10 donation to the jar is a bit steep, it’s best to stick with a £1 coin. If you talk about your goal five times per day, you’ll still have £5 at the end of the day and up to £150 at the end of the month.

This system works because it’s user friendly and risk free. Yes, you may be placing a considerable amount of money into the jar, but it will motivate you to ramp up your efforts as you can visually see your savings mounting.

Unlike financing the purchase you’re saving for, if for any reason you were to encounter a financial emergency (such as a unexpected house or car repairs), you’ll be able to dig into your savings jar and continue your efforts once you’re on a positive financial footing.

Until next time, stay safe and please share this blog with anyone who might find it useful. Thank you.

***On a side note, if you’re interested in starting a side hustle or making passive income, I highly recommend this 30 day course to get you started — One Funnel Away Challenge. It’s one of the best investments I’ve made to date and I can’t recommend it enough, so go check it out.***




Finance professional, blogger and a firm believer in making money work for you, instead of you working for it.

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Kalpen Patel

Kalpen Patel

Finance professional, blogger and a firm believer in making money work for you, instead of you working for it.

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