Archive for February, 2009

10 Places To Look When Scrounging For Change

I have a pretty funny story about scrounging for change.

Two years ago, right before Christmas, I gathered up all of the lose change in our house and headed to a local grocery store.  My goal was to use the store’s Conistar machine and exchange my coins for an Amazon gift certificate.  I’m not sure exactly how much change I had when I arrived at the store, but I do know that it filled up a large  Ziploc bag.

I walked towards the entrance of the store, and I noticed that there was a rather sizable group of people – maybe fifteen or twenty – gathered to one side.  As I made my way onto the sidewalk, maybe ten feet from the automatic doors, the crowd parted, and a woman wearing a large Santa Klaus hat, ringing a bell, began to shout -

“Thank you Jesus!  Thank you Jesus!  Thank you Jesus!”

Everyone in the crowd began to look at me – and my big bag of change.  At first I was a little confused, forgetting for a moment that I was carrying seven pounds of coins.  Then it hit me.  The woman who was shouting was collecting donations – and she thought that I was bringing the change to her!

Needless to say, I never made it to the Coinstar machine.  Instead, I pored the entire contents of the bag into the donation receptacle, awkwardly accepted her repeated thank yous, hastily made my way into the store, walked around for few minutes with nothing to do, and then quietly left via a side-door…

10 Places To Look When Scrounging For Change

Under The Cushions

I always check for lose change that might be hiding under the cushions of our couch and recliners.  Don’t forget feel between the back of the couch and that little space where the cushions rest.  Sometimes I swear that the Denver Mint is storing reserves in our sofa.

In The Drawer In The Kitchen

Come on now.  You know what I mean when I say The Drawer.  We all have (at least) one drawer where we keep the phone book, pens, fingernail clippers, coupons, cards, letters, envelopes, chap-stick, scissors, glue – and the change that we take from our pockets each night.  No matter how hard we try to keep The Drawer neat and organized, it always ends up looking the same.  Thankfully, amidst all of the clutter in The Drawer, there are usually three or four dollars worth in change.

In The Ashtray In The Car

You know the drill.  You drive through to pick up something for supper, you break a $20, and you put thirty-seven cents in your ashtray.  My car actually has two places specifically designed for change, one to the left of the steering wheel and one to the right.  My car is just a rolling piggy-bank.

On The Floor Of The Car

My clumsy brethren will understand this one.  From time to time, the change doesn’t make it to the ashtray.  Instead, it falls to the floor of the car.  I like to check under floor-mats and between seats.

In That Old Purse

If you still have your old purse, go check it’s pockets.  More often than not, you will find some change.  How do I know this?  Let’s just say I’m married to a beautiful woman who has a thing for new purses.

In That Old Wallet

Did you finally grow up and replace that rad Transformers Velcro wallet?  Good job.  Before you throw it away, check it for change.  It will be located in the zippered-pouch.

In Your Golf Bag

I like to keep a few dollars worth of quarters in my golf bag.  Somehow, over the summer, that few dollars can become several dollars, if I’m not careful.  It’s easy, when on the course, to buy a snack for nine bucks and shove the change from a ten into one of the pockets of my golf bag.  I’ve even found change inside the part of the bag designed to hold my clubs.

In Last Months Envelopes

From time to time, the envelopes I use for managing my cash get worn out and they have to be replaced.  It’s important, before I discard the old envelopes, that I check for any change that might have been left behind from a previous month.

In The Envelope From The Bank

Do you know that little envelope you get from your bank?  The one that they give you after you make your deposit?  Before you throw it away, check to see if a quarter or two got stuck in the bottom.

On The Ground Near Where You Park

We have a one car garage.  I park my car in the yard, next to our house.  Once in a while, when getting in my car, I’ll look down and see that I have dropped a few coins on the ground.  I would not obsess over every square inch of your yard, but when sweeping our the garage or mowing the lawn, keep your eyes open.

After you have collected your change, put it into your piggy-bank, give it to your kids as allowance, roll it up and deposit it in your checking account, or take it to a Coinstar machine and get a gift certificate.  Or, do what I did.  Wait until Christmas, and then make a forced donation under the threat of public humiliation and societal scorn!

As a side note – The above post was written with tongue-firmly-planted-in-cheek.  It felt great to make the donation that I made, and I would not trade the experience, or the story that came with it, for anything in the world.  As for the rest of the post, I feel that all of us are a little worried about the state of our economy, and I needed to write something that was none-to-serious.  Rock on.

Additional Places To Look According To Readers

On The Top Of Vending Machines (submitted by ben)

As a shortish dude, this would never have occurred to me.  Yet another advantage for you tall people!

In Your Toiletry Bag (suggested by Brianne)

I can’t believe I forgot this one.  I am always finding change in my luggage and my gym bag.

Inside The Pockets Of Your Jacket (suggested by Grace)

It never fails that when I take my suits to the cleaners, I inevitably find a buck or two in the pockets of my suit coats.

In An Old Piggy Bank (suggested by The Passive Dad)

Jokingly, The Passive Dad mentioned looking in your kids’ piggy banks.  Honestly, this isn’t a bad idea, especially if you kids are like mine and they each have two or three piggy banks in there rooms.  At the least, it might be a good idea to consolidate all of their change into one place.

A Contest Suggestion From A reader

Who Can Collect The Most Change? (suggested by Grant Baldwin)

Grant suggested that we see who could find the most change. I think that this is a cool idea.  I’ll look through the 10+ places mentioned and see how much change I can find.  If you would like to participate, get to scrounging!  See how much you can find and then leave a comment letting us know your total.

My Car Has Been Repaired

A few months ago I hit a deer with my car.  After a little internal-debate about whether to have the car repaired or trade it in for something newer, I decided to keep the car and have it repaired.  I happy to report, the car has been repaired, and it looks great.

I have a high deductible – $1000 – and it felt a little strange writing a check for that much money for repairs on a nine year old car.  Thankfully, I actually have a budget-category, labeled automobile repair, from which I withdrew the deductible payment.

It’s so important, when creating a budget, that I remember unplanned-for expenses.  My wife and I own three automobiles, each with a $1000 deductible.  Instead of relying on our emergency fund, which is really there to protect us should one of us lose our job, we prefer allocate funds, on a monthly basis, for the specific purpose of paying our deductibles.  Each month $250 ($3000 / 12) is set aside, in my ING Direct Orange Savings Account.  Since the accident occurred last year, I used money allocated in 2008 to pay for the repairs.

A Plan And Rock Solid Determination

What does it take to build a solid financial future?  Money, a good plan, and rock solid determination.

Consider a recent article written by Jen from Beyond Mom.  I love the article’s title: The Budget Might Kill Me This Month.  Isn’t that awesome?  Trust me, I’ve felt that exact same sentiment several times.  I encourage you to read Jen’s article, and I think you’ll be impressed, just as I was, by Jen’s closing words -

It’s not super-fun, and it’s certainly not glamorous, but you know what…it will be worth it.

I think that’s how most of us feel about living on a budget.  It is so cool to see someone make a choice – the right choice – and focus on the future.  By the way, Beyond Mom is a member of the No Credit Needed Network and you can click here to view her most recent NCN Network Chart – beyondmom.

For our family of five, it’s extremely important that we live on a budget.  In fact, just the thought of living without one makes me nervous.  I need the structure that a good budget – a good plan – provides.  Personally, we use software developed by You Need A Budget to manage our household finances, and we really like it.  I’ve been using YNAB for several years, and I’m proud to have them as a site sponsor.

As you develop your budget, remember one thing.  Your budget will be useless if you are not determined to use it.  I can remember, years ago, before I got serious about getting out of debt, creating an elaborate budget.  I broke down categories into sub-categories, and sub-categories into sub-sub-categories.  I created short-term, mid-term, and long-term goals.  I averaged my payments, created scenarios for paying of my debts, printed out my budget, and placed in a brand new three-ring binder.  And there is sat.  The budget – my plan for changing my future – just sat there.  I spent hours creating it, and then I did nothing with it.  It was years later, when I finally decided to actually do something about my future, that my budget started to matter.  I had to find the drive, the purpose, the determination to put the numbers on the page into real life action.  Then, and only then, did I begin to turn my financial life around.

Dedicate 7 Hours For Healthier Finances – Hour 7

The goal: Dedicate 1 hour a day, for 7 days, and improve the health of our finances.

Click to view Hour 1

Click to view Hour 2

Click to view Hour 3

Click to view Hour 4

Click to view Hour 5

Click to view Hour 6

Click to view Hour 7

Hour 7 (00:00 – 50:00)

Insurance Brainstorm -

Do I have enough life insurance?

Should I consider switching from whole life to term life?

Does my spouse have enough life insurance?

Should we consider an insurance rider for our child or children?

Do I have a long-term disability insurance policy?

Does my spouse have a long-term disability insurance policy?

We live in a rental property, do we have renter’s insurance?

Have we reviewed our home owner’s policy?

Should we look for new or additional health insurance?

Have we reviewed our automobile insurance policies?

Can we raise our automobile deductibles, now that we have a fully-funded emergency fund?

Can we use one company for multiple policies, thereby receiving discounts?

Do I know where all of my insurance-related documents are?

Hour 7 (50:00 – 60:00)

Begin the process of researching insurance companies which may be able to meet any needs identified during the brainstorming session.  Consider online resources as well as local insurance companies and agents.

I hope you have enjoyed this series of articles about improving the health of our finances.  Each article should take just a few minutes to read, and the steps outlined should take about an hour to do.  Depending on the health of your finances, you might be able to breeze through the steps in just minutes – or it might take you much longer, if things are in need of repair.  My goal, however, is to keep the steps to a minimum, and to make them as easy-to-follow as is possible.

Consider Hour 7.  If you will take the time to do all of the steps outlined above, you’ll have a a better understanding of your life insurance needs, you’ll have a plan in place for purchasing additional insurance policies, and you will know where critical insurance-related documents are located.  And, you will have accomplished all of these things, in about an hour!

If you haven’t done so, be sure to subscribe to No Credit Needed, via email or RSS.

Dedicate 7 Hours For Healthier Finances – Hour 6

The goal: Dedicate 1 hour a day, for 7 days, and improve the health of our finances.

Click to view Hour 1

Click to view Hour 2

Click to view Hour 3

Click to view Hour 4

Click to view Hour 5

Click to view Hour 6

Click to view Hour 7

Hour 6 (00:00 – 60:00)

Create a Career Portfolio

Locate, organize, copy, and store important education-related documents, including diplomas and certifications.

Locate, organize, copy, and store important work-related documents, including commendations, awards, and acknowledgments.

Locate, organize, copy, and store important community-related documents, including civic membership information and awards.

Create or update your resume.  Include relevant information about educational achievements, community involvement, and work history.

Get to know people who are working in your field of interest.  Consider using a site like linkedin, and use it to establish or expand your network of relationships.

Over the course of this week, I’ll write one more article about improving the health of our finances.  Each article should take just a few minutes to read, and the steps outlined should take about an hour to do.  Depending on the health of your finances, you might be able to breeze through the steps in just minutes – or it might take you much longer, if things are in need of repair.  My goal, however, is to keep the steps to a minimum, and to make them as easy-to-follow as is possible.

Consider Hour 6.  If you will take the time to do all of the steps outlined above, you will know where your important education- work- and community-related documents are, you will have updated your resume, and you will have begun to connect with like-intentioned people. And, you will have accomplished all of these things, in about an hour!

If you haven’t done so, be sure to subscribe to No Credit Needed, via email or RSS, and make sure you catch hour 7.

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