Coinstar Fridays

[CHigh95]

I started a new game with my kids last weekend:

Anytime they find a coin (pennies, dimes, nickels, etc.) they put it in the change jar. Every Friday, we go to the Coin Star machine to cash in. They are allowed to buy one piece of candy, their choice, with the money.

Last weekend, we collected $45.28!!

Kids are little scavengers. They will bring me every little coin and they seem really proud every time they find one. This is great!!

[BillsGirl]

not to sound rude or like a stickler but the last time I checked coinstar charges .09c per dollar and thats ALOT of money you could be saving... why not make a game out of rolling coins??? You get the rolls fromt he bank for free.... just some food for thought!!!

[CHigh95]

Originally Posted by BillsGirl

not to sound rude or like a stickler but the last time I checked coinstar charges .09c per dollar and thats ALOT of money you could be saving... why not make a game out of rolling coins??? You get the rolls fromt he bank for free.... just some food for thought!!!

You're not rude...I welcome any and all suggestions.

I would love to roll coins like I did as a kid, but my bank does not take them anymore. Doesn't that suck?

Anyhow, my kids are learning to work for what they want, even if it is just candy.

[BillsGirl]

Originally Posted by CHigh95

You're not rude...I welcome any and all suggestions.

I would love to roll coins like I did as a kid, but my bank does not take them anymore. Doesn't that suck?

Anyhow, my kids are learning to work for what they want, even if it is just candy.

Thats really stupid, I'de change banks if my bank refused rolled coins since its a hobby I have myself and every few months I take in a box of it........ I would go complain to the bank they shouldn't be allowed to refuse money!!!

[crosses]

Why don't you use the coins to let the kids but the candy themselves? Then use the change in your everyday purchases and take bills to the bank? 9% is a lot to pay just to change coins.

[Ima saver]

My bank does not want coins in wrappers, but they will take them, unwrap them, and put them in their machine. (coin counter) It can count $100 in a minute,
I keep mine in a canister now and when it gets full, I take it in and the bank counts it, gives me the bills and charges me nothing! Wish I could find coins like that!

[locolorenzo24]

The two branches I go to for banking work a little different. One will take loose change and use the sorting machine, but you have to make sure your junk is out of the container...Wrappers, etc. The other is a self-serve machine, where you just dump your change in a sorting tray, feed it into the machine slowly, and then take the receipt up to the teller. However, without an account there, you'd be paying 5%...which is too much in my opinion...Especially cause I could use every 5 bucks out of 100!

[CHigh95]

Yikes!!

I forgot I was surrounded by frugal folks. Here I thought I was doing something good and I feel like I just got flogged. LOL!

I belong to a credit union and they:
1. Do not have a coin sorter machine

2. Do not take rolled coins.

I have belonged to 5 different banks in my life and I finally found the least fraudulent one. I'm not changing banks any time soon. I have three kids under the age of 7, and if I have to pay for the convenience of having my coins sorted when they would otherwise go unappreciated, then so be it. I need all the help I can get.

Sometimes you end up paying for something.

[jeffrey]

Not sure if this article will help, but it might give you a couple of other alternatives to consider.

[CheaplyClever]

Originally Posted by CHigh95

Yikes!!

I forgot I was surrounded by frugal folks. Here I thought I was doing something good and I feel like I just got flogged. LOL!

I think you are doing something super! I agree with the Coinstar usage too, sometimes you have to pay for convenience. I do have one suggestion though, after the candy purchase, have them deposit the rest into their very own savings account at the credit union.

[Ima saver]

No Flogging here, just never heard of a bank that does not take coins!!

[Optsol]

I say bravo!

Fun with the kids, and you save (albeit not optimized) some cash too? What's not to like?

[CHigh95]

Originally Posted by CleverButCheap

I think you are doing something super! I agree with the Coinstar usage too, sometimes you have to pay for convenience. I do have one suggestion though, after the candy purchase, have them deposit the rest into their very own savings account at the credit union.

Good idea!

[vince]

Just a suggestion but ask your local grocery store if they need change. Most of the banks around here charge them for rolls of coins.

[msnln]

Jeffrey mentions this in his article but what I do is after having Coinstar sort and print receipt, I do not cash the receipt at the supermarket but bring it home and make purchase through Amazon. Amazon does not charge shipping over $25 (for most products) and prices are competitive for household products such as soap, detergents, toothpaste, and such. In addition, there is no sales tax charged, which is hefty 8.75% in Nassau County, NY. Usually, my total purchases come above $25 but if I am short, I will buy one or two more items to bring my total up to $25 to avoid shipping. This has added benefit of saving me time (and gas) to run out to the drug store to buy the household necessities.

[CHigh95]

Originally Posted by msnln

Jeffrey mentions this in his article but what I do is after having Coinstar sort and print receipt, I do not cash the receipt at the supermarket but bring it home and make purchase through Amazon. Amazon does not charge shipping over $25 (for most products) and prices are competitive for household products such as soap, detergents, toothpaste, and such. In addition, there is no sales tax charged, which is hefty 8.75% in Nassau County, NY. Usually, my total purchases come above $25 but if I am short, I will buy one or two more items to bring my total up to $25 to avoid shipping. This has added benefit of saving me time (and gas) to run out to the drug store to buy the household necessities.

I didn't even know the receipt was any good outside the supermarket. Thanks for the tip.

[msnln]

You can go to coinstar.com and they have different ways you can use receipts from coinstar to get gift certificates and such at no cost to you. I use Amazon as it works best for me.

[acezz4e_tish]

my kids schools here, and you could suggest it if yours dont, they compete for grade with most money. they save pennies. jars are kept for each grade actually. they then use that money in the end for getting pizza and ice cream bars. if anys left over they add it to the general fund. most of the teachers, when kids bring in rolls of coins will get to pick something from the treasure chest. a pencil or stickers, erasers stuff like that too. dominos gives them a deal on the pizza. like the usuall special is peperoni large for 5.99. they get those for 4 dollars each. they raise hundreds of dollars too. school has approx 500 students, each student ending up with a min of one roll is 250 dollars. this keeps the cost of thier shirts down too. each school shirt is only 5, and i know it costs more then that for each. my daughter brought home note from school this year for fourth grade, said you can buy it for five or pay full price of 7. i paid full for one 5 for other.

[rusty@saving]

thanks for the idea about using the receipt at coinstar.com...i am going to have to check it out and see what they have there. buy they way, my bank is 10 miles away(i live rural) and the supermarket is 2 miles away....with the price of gas the way it is, the 8% the coinstar takes is WAY less than the gas to go to the bank with the coins.
keep up the good work with your kids!!! $=work, too many people think they are owed things in life and don't have to work for them.

[jacquelynrose]

I personally think you are doing a WONDERFUL Job with your Kids! You are not only showing them the value of a dollar but you are also showing them, that there will always be a price to pay whether it be with your money or others....and what I mean is....Bank charges us Fees, there will ALWAYS be fees....lets not pretend their won't be any. Taxes is a GREAT Example. Like once they start receiving a paycheck from their first job then maybe they will remember when dad took them to exchange money that they earned and their were fees. You know what I mean?

Jacquelyn