Thursday, October 17, 2013

Loose Change? Make It Work For You

We all have them somewhere, the miscellaneous pile of coins, paperclips, and receipts.  Like clockwork, we empty our pockets when we get home and throw what's in them in a pile to be dealt with later.  It's time to check that pile and see how much loose change you have and cash it in.

If you don't have a bank nearby with an automated coin counting machine, you might have the next best thing, a Coinstar machine.  Coinstar provides you several options to convert your loose change into gift cards, credits, or cash.  If you choose the cash option, you will be charged a hefty service fee of 10.9%, which is substantially higher than it used to be, and involves waiting in line to process.  A much better option is to cash in for gift cards, such as for iTunes, Starbucks, Nike, and a few other options.

I typically wait for a hefty amount of coins, about $50 worth, before lugging them down to the store.  But oh boy the satisfaction of hearing the machine and watching your coins add up is totally worth it.  I have cashed in for Starbucks gift card codes, transfer those to gift cards, and feel like I am ahead of the game.

Now, time to start shaking out the couch, rifle through your sock drawers, and empty your purse.