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Those take a cut. While not substantial, you should be able to get cash back at your bank for free.
Coinstar doesn't take a cut if you buy gift cards. It's the same reason you get a 20% discount when you buy gift cards with your credit card cash back rewards.
I took bottles back today....$23 worth ( rounded up by a nickel).
I also counted out and rolled $37.00 of coins.
That gives me $60, $50 of which I can add to my CD at the Credit Union. I will have $10 towards the next $25 increment I need for the $25 increments required for deposit additions to the Saver's CD program.
I consider bottle deposit money as money already spent in the food budget, and change as already spent as well.
So I have $60 in "found money". One month about for bottle return, and about 2 1/2 months change collection.
That's no chump change!!!
And eventually it will be unplanned addition to my retirement fund for future use.
I consider it and the interest it earns as found free money.
When I lived in a state that had a bottle deposit return a return station was next to the liquor store and you got a voucher rather than cash so can you guess what I did with mine?
I rarely get change and the little bit I carry on me, I try to use. If I happen to take it home or get an excess, it goes into the kids piggy banks. They eventually take the money and deposit into their bank accounts.
I don't care much for Bank of America, but my wife used it before we met, so that's the account we ended up using. That said, their "Keep the Change" mechanism that deposits money rounded to the nearest dollar on purchases is incredible. You can actually view how much was put in, and over the last 6 years it is well over $1,000.
I constantly use my loose change the next time I make a cash purchase.
EXAMPLE...........I go in convenience store and the clerk says " $2.38"...........I might say............." out of $5.38 " as I give her a $5 bill and use up 38cents loose change.
Actually I found out it's any amount- minimum of $25 up to maximum of $250 per month you can put in, I thought it had to be in $25 increments, so I deposited all $60 in this month.
September I'm sure to have another sizable deposit to add to my routine monthly contribution.
I think it's a win-win.
If you have odd change in sizable amounts or bottle return money, look to see if your Credit Union has something similar.
Although going into kid's accounts is nice, I don't have kids and therefore no grandchildren. I do have great nephews who, when older than 7 might benefit when they grow up.
My credit cards give me $40-50 every single month, why would I save up change and then waste time and gas driving to the bank with coins when doing it from the comfort of my home puts me well ahead of you change savers? It's like this thread was made in 1992.
Those take a cut. While not substantial, you should be able to get cash back at your bank for free.
No, they don't.
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