Even though it seems we’re surrounded by financial experts these days, they all seem to forget to advise us on how we can get to make sense of our cents. Pay phones are no longer as popular as they once were; thus, it’s not the current best option to spend money. Making calls using payphones was all the rage during eras gone past but the smartphone revolution has been ruthless in the way we view traditional phones.
People seem to forget that dollars are made up entirely of a composition of coins. So, what can one do with coins? Well, a wallet is a bad place for storage. The probable best way to make use of coins is to store them somewhere like a piggy bank or that old mayonnaise jar lying around the house.
The secret is to simply keep adding more coins to the jar until it is full. Once full, then, the big question emerges; what can one do with so many coins? That depends on whom we’re asking really. One can put the money to good use in emergencies that might emerge or simply just seek another jar and fill it again to the brim.
We’ve compiled a handy list on how we can get to make utility of coins when we have them stashed in large amounts.
Got a loan? A mortgage that needs servicing? Well, if we put to good use the vast amount of coins we can all save at our homes, we can definitely contribute towards funding such initiatives. They could prove the difference between a healthy bank account and a flimsy one. We all know which one we like the most!
Sounds like a novel idea doesn’t it? Well, think about it. If we can save a couple of hundreds of dollars per year, it’s plausible for us to start a savings account and put some of the coins as annual deposits to the account. Of course, they should not be the sole source of income for our retirement benefits.
Rather, they act as secondary sources that can gain interest with time. To save just enough in order to make that annual deposit, we need to regularly trade the coins for notes and stash them in the jar. Once the year-ends, that trip to the bank will be that more worth it.
The biggest of oaks grew from the tiniest of oaks. Starting an emergency kit could be quite helpful in case of emergencies.
It is, of course, wise to stash notes instead of coins during such emergencies. In order to save responsibly, we need to convert the coins into notes every couple of weeks once they attain a monetary value of about $50 to $80 dollars. A good place to trade would be at the local shop, they are likely to appreciate the sudden influx of change necessary to serve their customers.
A visit to Home Depot or trading it at one of those Coinstar machines for Lowe’s, is a great way to cash in. We can put some of the stashed cash to good use by making repairs around our homes. This can entail calling up the services of a plumber to fix that broken sink or doing a paint job around the house.
Saving up a couple of hundred dollars from coins annually can be a great way to get every New Year started with a party.
Coins can be put to good use around parking spaces. All we need to do is feed those electronic machines a couple of quarters and we’re good to go.
Most people quip that coins belong in the past. The truth is, they are the present and can help us prepare for the future. How about that for some financial sense!