Stop Spending and Start Saving

Loose Change and Found Money

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loose change
Table of Contents  
  1.  Show Notes

Do you have lots of loose change hanging around?  Or ever find a tenner in a coat pocket?  Find out how to turn small change into big money.

If you live in a building with coin operated laundry, you can skip this episode.  We know where your change is going.  But for those of us with the cool chipped laundry cards, we need something more constructive than keeping it in big coffee tins.

We at LMM advocate using credit cards whenever possible so long as they are fully paid off each month but sometimes you have to use cash.  Where can you find money?  Always look down.  Things rarely fall up.  I found $12 in the street a few weeks ago.  And don’t turn your nose up at pennies.  Money is money.  Check your car, always seems to be some change there.  When you go to someone’s house, check their couch cushions!  (No don’t really do that).

It takes awhile for found money to add up so where can you keep it in the mean time.  Coffee tin isn’t a good place long term but it’s the classic solution when you’re saving it up.  Zip lock bags work too and are easier to carry to the Coinstar machine than coffee tins.

Now you have a little stash.  Don’t blow it at the strip club.  Use the change machine at your bank if they have one.  Then take the receipt to the teller, deposit it and transfer it to your investment account.  If you have to use Coinstar, which takes a percentage, they have a feature that allows you to deposit the balance into your Pay Pal account.

Maybe you don’t treat yourself often.  Then by all means, use that change and get yourself something pretty.  Or donate the money to a cause you care about.

Found money and change spends just the same as paper money so make sure you spend it as wisely.

 Show Notes

Ommegang BPA:  A Belgian style pale ale.

Flying Fish Oktoberfish:  Pumpkin beer.

Betterment:  Where to stash your small change and big money.

Acorns:  Seamlessly invest your small change.

Candice Elliott - Senior Editor Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.

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