Coinstar

This next strategy goes well in combination with two of my previous posts: Starbucks rewards and carrying cash.  It is also probably the oldest strategy out there, in its fundamental premise, that is.  I am speaking of the piggybank.  Well, to an extent.  Sure, the piggybank helps you keep all of your extra change in one place and can add up quite quickly, eliminating any waste you create by accumulating the tons of pennies you would most likely lose or throw away, but it’s not the whole story.

The biggest annoyance that comes from owning a piggybank and the main reason most people don’t keep one is the question of how to turn your 10 pounds of coins into dollar bills.  You can go to the bank and get a bunch of coin sleeves for free and spend hours organizing them and then exchange them for dollar bills at your bank, usually for free.  But that takes tons of time and much more effort.  Plus, you’ll rarely end up at an even number, so you can still end up with a ton of coins (sort of like those stray socks you can’t find a pair for when you lose one to the laundry black hole).

However, there is a solution.  I am also willing to bet that you have heard of this wonderful solution.  It’s called Coinstar.  Coinstar has been incredibly successful because it basically takes out all of the hassle of organizing your coins out of the equation.  You just go into your nearest supermarket, dump your jar full of coins in a bin, it all gets counted for you and you receive a voucher that you can redeem for cash.  Obviously, there is a catch that makes this endeavor not really worthwhile: there is a fee to use Coinstar (and it’s like 10%, which is ridiculous).  Now, remember I said that this strategy works best in combination with carrying cash and Starbucks?  Well, you will be happy to know that you can bypass this massive fee and get your money’s worth by reloading your Starbucks Card instead of receiving a voucher.  There are no taxes, no fees, and the process for reloading it only takes a few, simple steps that are explained to you at the machine.  Also, if you are not a coffee addict, there are several other options for gift cards and services you can choose from, that also require no extra fees or taxes.

Happy coffee piggybanking!