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I, J. Money, only claim the thoughts from my head. I am NOT a professional finance'er, banker, CPA, or anything of that sort. Please seek a professional for any "real" advice. For more info, please check out my disclosure page. That is all - enjoy!

Tuesday, February 26, 2008

Coinstar is my guiding light.

Every now and then I get to fulfill a deepest desire, and last Sunday was one of them! The moment only lasted 4-5 minutes, but the joy I received was immense :)

This brings us to Saving Tip # 3001: Make nice with Coinstar. You know, that big green shiny hunk of a machine found in the front of hundreds of grocery stores (usually next to the sexy lottery machines!)? It's a little place where saving goes a looooong way. This blingin' piece of technology eats up all your coinage, then spits out a voucher for cold hard cash! Awesome, right?!

Of course, none of this really matters unless you have plenty of coins to share with it. This shouldn't be a problem at all though. If you take a few minutes to search around your house, cars, jackets, purses, and even your couch cushions, you'd easily conjure up a nice collection. Or, even better, you can start throwing all your lose change in a central place. I use large funky vases (great for decorating too), or those antique candy bowls to gather them all. Either way, if you save up for a few months, you can come out with a good $30+ easily!

And sometimes, just sometimes, you get mad lucky and come out a huge winner! This is what I ended up with after 6 or so months of collecting. Check it:

Quarters 259 $64.75
Dimes 258 $25.80
Nickels 154 $7.70
Pennies 337 $3.37
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Total: $101.62
- 8.9% commission
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Grand Total: $92.58!

Now that is what I call some exciting news. Of course if you were truly frugal you could wrap all 1,000+ coins in those bank rolls and come out w/ 100% profit (by taking them to your bank), but you gotta be pretty hardcore for that. It would just kill my motivation in my case.

But there you have it - Take some time out and be pals with Coinstar. I mean, it's already your money to begin with, but it FEELS like it's free! And that's all that really matters these days :)

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6 Comments:

Blogger 1MansMoney said...

Wow, great job. That's a lot of coin. How much did the bag weigh?

-1MansMoney

February 27, 2008 11:37 PM  
Anonymous budgetsaresexy said...

i had to drop that bad boy into a shopping cart just to wheel it over ;)

February 28, 2008 9:23 AM  
Anonymous Nina said...

I've used coinstar as well, but always feel bad about that darn 8% commission! Since I usually end up with about $20 every 3 months or so, I might try inserting my coins in those rolls and taking it to the bank. I wonder if banks have a "coinstar-like" machine where you could just dump it there as well...?

March 5, 2008 7:53 PM  
Blogger J. Savings said...

oh man, well you know if they do i'll be there in a flash! do let me know.

March 6, 2008 5:26 PM  
Anonymous Anonymous said...

way late to the party, but both the bank across the lobby of the building where I work AND my credit union where I bank have FREE coin machines. They just ask that you not bring in the jug on fridays or the 1st/15th (because of the time it takes to run the coins thru can cause a problem on the most common paydays).

100% baby! I use the one in the building, because I usually bank online at the CU.

PS, I also have my safe deposit box at the building bank - same reason.

August 20, 2008 5:14 PM  
Blogger J. Money said...

FREE?!!! that is freakin' awesome, good for you :) I like it how they say you can't hog it up on those days too, haha...that rocks.

I always feel like both a nerd and a jerk spilling my hundreds of pennies and such dinging and clinking all around the machine for 15 mins straight!

I need to check out my credit union down the street where i have $5 in my acct just to keep access to it's benefits ;) Thx for the idea my friend!

August 20, 2008 9:38 PM  

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