Rather than letting spare change wander freely around your house, in trouser pockets, at the bottom of your handbag, and so on it really is worth collecting it in a penny jar.

Also it is a good idea every now and then, to drop a £1 or £2 coin into your penny jar to boost the balance.

However, it is worth noting that money kept in penny jars for years can in fact begin losing value, if it does not keep up with inflation.

Therefore, you should remember to cash it in regularly so that you earn interest on your cash and get a little extra back.

Spend it when you can

Another way you can put your change to good use is to spend it on small transactions. This is particularly applicable to 5ps and 10ps - although they will often get lost at the bottom of your wallet, it is worth using them to pay for purchases when you can.

However, the Coinage Act limits how many small coins you can use in a transaction, although shops are able to choose to accept larger volumes of coins if they want to.

Self-service machines in supermarkets often do not have a limit on the number of coins you can use per transaction. They can also usually sort them faster than cashier would (and with less tutting!).

It is easiest to use a few at a time rather than buying your weekly shop with pennies, and preferably not when there is a large queue behind you!

Give your coins to charity

Instead of putting smaller coins in your wallet at a checkout, you could give your spare change to charity instead. Many checkouts have charity tins, or you could save the coins for a specific charity you wish to support.