$100 in to $1000: Thought Experiment

Jan 2014
16,036
4,192
California
#11
You can spend coins, you know.

I had to look up Coinstar. What a bizarre concept:



What do you think coins are?
Mr. caffeine,

Many financial advisors, Suzy Orman most notably, recommending emptying the change in your pocket into a jar, then taking the change to your bank and depositing it in a dedicated savings account.

Coinstar is a bizarre concept, but it must work. Every time I go to the store, there is someone using it. My wife hates me for it, but when the machine is not being used, there is almost always change in the coin return slot which I scoop out. It is mostly foreign money, or the spare change that didn't round the total up to the dollar. However, at least once a month, there is a silver coin. Silver has the right size, but not the right weight, so it is rejected, and most people don't care about a dime left behind.
 
Likes: remington50
Nov 2013
10,319
9,755
NY
#12
I got to say, it's quite refreshing to see how two of our cold-cut Trump cultist conservatives give each other tips how to just scrape by at the bottom of life standard.. digging coins in order to make an extra coffee every now and then.
Seems the Trump and overall GOP promise is working magic for you folks.
 
Likes: OldGaffer

Babba

Former Staff
Jul 2007
73,053
62,359
So. Md.
#13
Mr. Remington,

No cable. But that may not be an option. Where I live, I get about 5o channels of broadcast TV.
No cell phone contract. Again, not really an option for most. I just used my phone for calls and text, and occasionally data for GPS.
Save aluminum cans.
Commute via public transportation, park blocks away from the train station where there is free parking. Walk about a quarter a mile to the station, and then about a quarter a mile from work, so get a mile of walking exercise on top of the lessened commute expenses.
Save coins, take them to bank, so I don't lose 10% by using coinstar.
Refied my Mortgage twice in 2 years, down from a 30 year 4% to a 15 year 2.75%.
I don't eat out as much for lunch and breakfast. Mostly because with the $15/hour minimum wage, the difference between eating lunch in a restaurant and brown bagging is about $5 to $10.
Eat out less for dinner, and don't order as much.
Tip less. Since waitpersons now get $15/hour, and most restaurants here (and especially in San Francisco) charge a labor surcharge, I'm back to the 15% tip.
Buy clothes only at thrift stores, and on sale.
Shop groceries with a list, and only buy what is on that list. Also, every grocery store has a clearance area. I have a standing freezer, so have no problem buying meat near its sell-by date and freezing it. Also, I shop at farmer's markets and get deals at the end of the day when they are packing up.
We cut the tv cord about 3 years ago and stream everything we watch. We're too far out in the country and have too many trees on the property for broadcast.
I have no cell phone contract and pay for only 1 gig a month for data.
Save aluminum cans. Since Trump's tariff on aluminum I'm making more on them.
I don't commute. Thank God.
I save coins but rarely use cash so it takes a while to save enough to cash in and then I use my credit union to cash them in where there is no fee.
We eat out about twice a month. Usually lunch. I regularly find coupons and end up paying on average about $7 for two people.
We also buy clothes only at thrift stores and occasionally on sale.
I also grocery shop with a list and only stray from it if I run across a really good unadvertised sale. We have a large chest freezer and look at the weekly flyers to find the best deals. I plan a menu for the week's dinners before making the list. I make my own pasta sauce and the cost works out to about the same as a jar of pasta sauce at the store but I get three meals out of it and I freeze them. We eat soup once a week in the winter for dinner and I make a batch big enough to make 3 meals and freeze them. I make my own taco and chilli seasoning. We mostly shop at Aldi. I have a CVS loyalty card and they offered $2 off any grocery item. I couldn't find one item that would actually save me money. For example, they had a box of Frosted Flakes but the price was $5.29. At Aldi I get it for $1.39 and I cannot taste the difference. On the other hand, they gave me a $10 off any health item and I got a free bottle of CVS brand Aleve. The regular price was $8.99 which is absurd. I can get the same strength and count at Walmart for less than half that. But, it was free so I took it. I also grow veggies in the summer like tomatoes, cucumbers, green beans, lettuce. That saves us a lot because I do entree salads once a week for dinner in the summer.
 

The Man

Former Staff
Jul 2011
43,436
29,839
Toronto
#14
Here in Canada, we have this: Tax-Free Savings Account - TFSA

We have a good sum of money stored up in one of those, left over from selling our property back in Vancouver, after we moved over here. And it's growing in there too, not big growth, but, we get some interest, pretty good. Wife knows more about it than I do, she is the professional banker, between us lol

But, yeah, that's our emergency fund, basically. Plus, also, some cash we have in a deposit box in the same bank, which we add to every month. Just, basically, at the end of each month, we see how much spare cash we have left over, and at least half of that goes into the bank box.

That's how we do it :)
 
Dec 2018
1,797
581
Florida
#15
Mr. caffeine,

Many financial advisors, Suzy Orman most notably, recommending emptying the change in your pocket into a jar, then taking the change to your bank and depositing it in a dedicated savings account.

Coinstar is a bizarre concept, but it must work. Every time I go to the store, there is someone using it. My wife hates me for it, but when the machine is not being used, there is almost always change in the coin return slot which I scoop out. It is mostly foreign money, or the spare change that didn't round the total up to the dollar. However, at least once a month, there is a silver coin. Silver has the right size, but not the right weight, so it is rejected, and most people don't care about a dime left behind.
Yea I think most don’t realize how much they spend on cointstsr. I didn’t initially
 
Nov 2007
1,624
737
Prague, Czech Republic
#16
I save coins but rarely use cash so it takes a while to save enough to cash in and then I use my credit union to cash them in where there is no fee..
I still don't understand this coin business. I had to do a quick check to see if the word 'cash' is interpreted differently on different sides of the Atlantic, but apparently the dictionaries haven't caught on yet.

I save coins, then take them to the shop and exchange them for goods of low-to-moderate value.
 
Likes: The Man

Babba

Former Staff
Jul 2007
73,053
62,359
So. Md.
#17
I still don't understand this coin business. I had to do a quick check to see if the word 'cash' is interpreted differently on different sides of the Atlantic, but apparently the dictionaries haven't caught on yet.

I save coins, then take them to the shop and exchange them for goods of low-to-moderate value.
I could do that, too. But I rarely bother shopping to just purchase one small item that costs so little. Besides, who wants carry all those coins around? That's one reason the coin dollar hasn't caught on here.
 
Likes: The Man

The Man

Former Staff
Jul 2011
43,436
29,839
Toronto
#18
Russians are the weirdest about finances.

Many save frugally all year, even on their birthdays and vacations... just to blow it all in the New Year holiday celebrations, on parties, expensive gifts, alcohol, etc. :D

Because lavish spending on New Year gets you respect over there...

The morning after, every January 1st, myriads in Russia line up at the pawn shops, handing in everything, from gifts they don't want/need to their cars (!); and at micro-loan offices; trying to recoup as much of their holiday losses, as they can...

That's how that country lives lmao
 
Jan 2014
16,036
4,192
California
#19
Yea I think most don’t realize how much they spend on cointstsr. I didn’t initially
Mr. Remington,

I think is more they don't care. Continence is more important that money. There is a point where you determine whether your time is more valuable that hiring someone to do a task is cheaper than doing it yourself. However, I don't exchanging cash is one of those situations.

It is a good example of people choosing to be poorer.
 
Likes: remington50
Jan 2014
16,036
4,192
California
#20
We cut the tv cord about 3 years ago and stream everything we watch. We're too far out in the country and have too many trees on the property for broadcast.
I have no cell phone contract and pay for only 1 gig a month for data.
Save aluminum cans. Since Trump's tariff on aluminum I'm making more on them.
I don't commute. Thank God.
I save coins but rarely use cash so it takes a while to save enough to cash in and then I use my credit union to cash them in where there is no fee.
We eat out about twice a month. Usually lunch. I regularly find coupons and end up paying on average about $7 for two people.
We also buy clothes only at thrift stores and occasionally on sale.
I also grocery shop with a list and only stray from it if I run across a really good unadvertised sale. We have a large chest freezer and look at the weekly flyers to find the best deals. I plan a menu for the week's dinners before making the list. I make my own pasta sauce and the cost works out to about the same as a jar of pasta sauce at the store but I get three meals out of it and I freeze them. We eat soup once a week in the winter for dinner and I make a batch big enough to make 3 meals and freeze them. I make my own taco and chilli seasoning. We mostly shop at Aldi. I have a CVS loyalty card and they offered $2 off any grocery item. I couldn't find one item that would actually save me money. For example, they had a box of Frosted Flakes but the price was $5.29. At Aldi I get it for $1.39 and I cannot taste the difference. On the other hand, they gave me a $10 off any health item and I got a free bottle of CVS brand Aleve. The regular price was $8.99 which is absurd. I can get the same strength and count at Walmart for less than half that. But, it was free so I took it. I also grow veggies in the summer like tomatoes, cucumbers, green beans, lettuce. That saves us a lot because I do entree salads once a week for dinner in the summer.
Ms. Babba,

We think alike....

Are you scared yet?....;)
 
Likes: Babba