Vending Drinks Machine Bedfordshire

Take the convenience of changing your coins at a grocery store.CoinStar and other businesses will take your change and give youa receipt that you can use for your grocery shopping, butthey'll also take a huge fee to do so. In effect, you aretrading the face value of your coins for something worth lessthan face value.

More and more banks are also beginning to charge you to countcoins if they will accept them at all. With the current ratesthat banks are paying on savings accounts, you'll likely have toleave the money your received for your coins in the bank severalyears just to break even with what you initially had.

What this all comes down to is that for many, keeping a coin jaris the same as losing money. Where it once was a great way toadd to your savings, it has become as wasteful as keeping abalance on your credit cards. We have come to a time where thecoin jar can actually cost you more money than you save.

There are a few steps that you can take to make sure that youaren't actually losing money when you think you are saving it.First, you want to make sure never to have your coins changed ata grocery or similar store. By doing so, you will automaticallyhave around 10% of your money subtracted for fees.

Before you take your coins to your bank, make sure they don'tcharge any fees for taking the money. The policy for banksvaries widely. Some will charge for loose coins, but won'tcharge if you roll the coins yourself. Find out what chargesexist and if any do, consider switching banks. Credit unions areusually better at not charging fees for taking coins than banks.

If you can't find a bank that will take coins without chargingyou, then use the coins in your everyday use. You're much betteroff doing this that letting them sit in a jar where they willultimately lose money for you. You can amend the money jar gameto benefit your savings if this is the case.

Instead of saving coins, move up to $1 bills for your money jar.In this scenario, you'll be doing exactly what you have beendoing, but you'll be saving $1 bills instead of change. Youdon't spend any $1 bills you receive, but any coins you receiveare fine to use. That means all purchases have to be made withcoins or large bills ($5, $10, or $20 dollar bills). At the endof the day, you place all your $1 bills into your savings jar.Since banks will not charge you anything to deposit $1 bills,you avoid the fees your would get for the change and save evenmore money than with coins.

If you think that changing the game will keep you from saving,another way to change the coins is to take them to your localpost office and use them to buy stamps out of the vendingmachines there. By switching the coins for stamps, you get 100%value for your coins which is better than paying fees to havethe coins switched to bills.

In the end it's important to remember that coins are legalcurrency and you can get full face value for them by spendingthem a little at a time. While a large amount of coins can betroublesome, there is no reason to pay a fee to have the coinsdeposited.

About the author:Copyright (c) Jeffrey Strain. He is owner of Save Money Games - awebsite dedicated to decreasing debt through money saving games.