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I find it funny when people get excited about change jars.
In order to put money into this jar ... it meant you had to take the money out of the bank in the first place.
It's the same as if I go to my bank and withdraw $100 in coins.
Then I put several of these coins a day into my pocket and not spend them.
Then at the end of each day, I dump all the coins from my pocket into a jar.
Then maybe a year later .... I get all excited when I see how I finally filled my entire jar with $100 in coins !!!
Then empty this jar, re-roll the coins, and redeposit the $100 in coins back into the bank.
You haven't accomplished anything other than giving yourself a lot of extra bank-related work.
You haven't saved money since this money would already be inside your bank if you had not taken it out.
I recommend just spending your change whenever you shop, and you will never have more than $1 in change to carry.
It will result in fewer trips to ATMS and your bank.
I know this is all true (except the coin rolling, which I don't think anyone does anymore). But the fun thing about cashing in loose change is that it was money lying around that we didn't even miss. So even though in reality it was ours in other forms before it became loose change, and we didn't actually gain, it FEELS like a gain because it's been sitting in jars, jugs, and baskets, under seat cushions, in pockets and we ignored it. So it really does feel like "found money."
It sounds really great, in theory, to spend all your change as you get it, but most of us can't be bothered to count out change for purchases of even a few dollars. I can't imagine counting out quarters and dimes to buy a cantina salad at Taco Bell or a gallon of milk. It's so much faster to give them a $10 bill and get change. We then just clean out the change in the bottom of our purses or pockets and throw it in a jar at the end of the day. I hardly use cash at all except for small purchases under $10. But the change from those purchases added up to over $300 in my case. It was $300 I never missed and it felt like a windfall when I got $300 to spend on Amazon.
I know this is all true (except the coin rolling, which I don't think anyone does anymore). But the fun thing about cashing in loose change is that it was money lying around that we didn't even miss. So even though in reality it was ours in other forms before it became loose change, and we didn't actually gain, it FEELS like a gain because it's been sitting in jars, jugs, and baskets, under seat cushions, in pockets and we ignored it. So it really does feel like "found money."
It sounds really great, in theory, to spend all your change as you get it, but most of us can't be bothered to count out change for purchases of even a few dollars. I can't imagine counting out quarters and dimes to buy a cantina salad at Taco Bell or a gallon of milk. It's so much faster to give them a $10 bill and get change. We then just clean out the change in the bottom of our purses or pockets and throw it in a jar at the end of the day. I hardly use cash at all except for small purchases under $10. But the change from those purchases added up to over $300 in my case. It was $300 I never missed and it felt like a windfall when I got $300 to spend on Amazon.
As the previous person stated ... it's a "mind trick".
What you are doing is exactly the same withdrawing $300 from your bank, and using it to buy stuff on Amazon.
The money was always yours, regardless of whether it was inside a bank or inside a change jar.
The main difference is, when it is inside a bank, you are less likely to spend it, since it won't feel like "found money". Keeping it in a bank may keep you from making unnecessary purchases.
As for me, it takes me just a few seconds to count out change at a register. Cashiers often thank me for providing my own change.
most of us can't be bothered to count out change for purchases of even a few dollars.
I don't think we're talking about paying for something that's 7.00 all in change.
If you spend your change as you get it....you're giving 6.32 cents as 6 DOLLARS -- and 32 cents.
(And if you have your wallet handy is it really THAT time consuming..... it can take LESS time than paping by debit card and not signing.)
Sure there are times when I might build up to more than $3.00 in change, but USUALLY if a person spends change on a regular basis...he/she won't build up to HAVING $7.00 in change to even pay for that salad in all change.
When I have change -- and that's a good part of the time -- I MUCH PREFER -- to give the cashier bills and EXACT change.
Then I don't get any change back -- bills or coins.
((As an aside .. every once in a while I'll see people who don't even pull out their wallet until the sale is wrung up. I'm like -- you knew you'd have to pay. Would it kill you to GET READY TO PAY, and PULL OUT YOUR friggin wallet? Why should those of us inline have to WAIT EXTRA time-- because you're just now digging in you purse for your wallet -- which should have been IN YOUR HAND already. Geez!))
Meh, not me. That might be fine for you. I use cash minimally and can't be bothered to get change out of my purse and give the cashier an exact amount. Plus, I kind of like the "mind trick" as you call it, of suddenly having $300 I'd forgotten I'd had.
Meh, not me. That might be fine for you. I use cash minimally and can't be bothered to get change out of my purse and give the cashier an exact amount. Plus, I kind of like the "mind trick" as you call it, of suddenly having $300 I'd forgotten I'd had.
^^^this
It's quicker for me to hand the cashier a whole bill than to count out change.
Also, if I plan to spend money I round up to the nearest dollar. If I'm treating my nephews to McDonald's and plan $20 for the whole meal and it comes to $19.25, then I just take the 75 cents in change back and throw it in my jar. I had already accounted for $20 to be spent so I'm not "losing" anything IMO.
I find it funny when people get excited about change jars.
In order to put money into this jar ... it meant you had to take the money out of the bank in the first place.
It's the same as if I go to my bank and withdraw $100 in coins.
Then I put several of these coins a day into my pocket and not spend them.
Then at the end of each day, I dump all the coins from my pocket into a jar.
Then maybe a year later .... I get all excited when I see how I finally filled my entire jar with $100 in coins !!!
Then empty this jar, re-roll the coins, and redeposit the $100 in coins back into the bank.
You haven't accomplished anything other than giving yourself a lot of extra bank-related work.
You haven't saved money since this money would already be inside your bank if you had not taken it out.
I recommend just spending your change whenever you shop, and you will never have more than $1 in change to carry.
It will result in fewer trips to ATMS and your bank.
Best post yet!
It really isn't hard to take out change and pay correct amount. I don't even know people who use cqash nowadays....not as much as some of these frugal people.
Meh, not me. That might be fine for you. I use cash minimally and can't be bothered to get change out of my purse and give the cashier an exact amount.
It's really not a bother at all.
Like a previous person stated, I take my money out beforehand so I don't hold up the line.
And I don't always give an "exact" amount. I simply use whatever coins I have in the most logical way I can.
If a bill comes to 19.38, I will likely hand the cashier a $20 plus whatever coins I have.
If I have pennies, I will give the cashier whatever pennies I have to get rid of them first.
If I have .13, I will hand the cashier 20.13, so I get back 3 quarters. (20.13 - 19.38 = .75)
I always try to get rid of the smallest coins first to reduce the number of coins I need to carry.
It results in me never having more than $1 in change at any time.
Not to mention the time wasted digging through your purse or pocket too see if you have enough change only to find out you don't.
7...8 seconds. Nothing life shattering. People are just saying if you have to pay $4.78.....throw out a $5 and 3 cents and you wll get back a quarter. Simple as that.
Or....use a debit card/credit card and the time it takes to get the 5 bucks and 3 cents is moot.
This topic is only one is a large number of threads regarding frugal living. Maybe it is a waste of time for a lot of you but frugal people don't usually do things the same way as others. Being frugal takes work, no one would dispute that. Please show a little respect and stop making it sound like being frugal is stupid or a waste of time.
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