Money What do you with the coinage received as change? - Page 5

Stewie · 05-19-2022, 08:01 PM

Pennies, nickels, dimes...

What do you do with them?

ThaVirus · 05-20-2022, 09:41 AM

Quote:

Originally Posted by lewdog

I don’t use cash for anything.

Credit card charge everything and get a free $500-600 cash back every year on rewards. Just pay your bill in full each month.

Cash is lame. Even more lame are coins.

Switching over to paying everything with credit cards was one of the best things I've ever done.

I'm not compulsive about it but I even manage my purchases based on which get the best rewards. For instance, my AmEx gets me like 3% (maybe 6%, I can't remember) back on purchases at gas stations and supermarkets so anytime I get gas or groceries, I'll use that one.

You'd be surprised how many people either don't know about credit card rewards or just don't bother. The amount of people I've told about it who just shake it off with a confused look is way too ****ing high. It's very simple!

**DaFace** · 05-20-2022, 09:49 AM

Quote:

Originally Posted by ThaVirus

Switching over to paying everything with credit cards was one of the best things I've ever done.

I'm not compulsive about it but I even manage my purchases based on which get the best rewards. For instance, my AmEx gets me like 3% (maybe 6%, I can't remember) back on purchases at gas stations and supermarkets so anytime I get gas or groceries, I'll use that one.

You'd be surprised how many people either don't know about credit card rewards or just don't bother. The amount of people I've told about it who just shake it off with a confused look is way too ****ing high. It's very simple!

With a caveat that I consider myself an advanced player of the credit card rewards game, my wife and I are flying to Scotland this summer in lie-flat business class both directions (and first class in the U.S.), entirely paid for by credit card rewards. Unless you have trouble controlling yourself from overspending, you're leaving a ton of value on the table if you only use cash.

ThaVirus · 05-20-2022, 09:54 AM

Quote:

Originally Posted by DaFace

With a caveat that I consider myself an advanced player of the credit card rewards game, my wife and I are flying to Scotland this summer in lie-flat business class both directions (and first class in the U.S.), entirely paid for by credit card rewards. Unless you have trouble controlling yourself from overspending, you're leaving a ton of value on the table if you only use cash.

Congratulations on the upcoming trip. I know from past convos you and Lew are heavy in the credit card rewards game.

I just stick with my AmEx for gas and grocery purchases and then put everything else on my CapitalOne for 2% cashback. It's a good system and I don't mind keeping it simple. I have considered "churning" through some new cards just to get those "$250, $500 cashback when you spend $1000 on this card in the first 3 months" sort of deals but that's just a bit much for me.

My goal is to pay off a trip to Hawaii for my gf and I with my credit card rewards. At this point I'm actually pretty close.

**Bearcat** · 05-20-2022, 09:57 AM

Quote:

Originally Posted by DaFace

With a caveat that I consider myself an advanced player of the credit card rewards game, my wife and I are flying to Scotland this summer in lie-flat business class both directions (and first class in the U.S.), entirely paid for by credit card rewards. Unless you have trouble controlling yourself from overspending, you're leaving a ton of value on the table if you only use cash.

Yeah, basically the only time I pay for Southwest flights is if a few come up in a short period of time and I haven't built back rewards, but for the most part never have to pay for that portion of a trip.

Back when I traveled for work, I had a ton of hotel and rental car points, too, but these days don't make that as much of a priority.

**Bearcat** · 05-20-2022, 10:00 AM

Quote:

Originally Posted by ThaVirus

Congratulations on the upcoming trip. I know from past convos you and Lew are heavy in the credit card rewards game.

I just stick with my AmEx for gas and grocery purchases and then put everything else on my CapitalOne for 2% cashback. It's a good system and I don't mind keeping it simple. I have considered "churning" through some new cards just to get those "$250, $500 cashback when you spend $1000 on this card in the first 3 months" sort of deals but that's just a bit much for me.

My goal is to pay off a trip to Hawaii for my gf and I with my credit card rewards. At this point I'm actually pretty close.

Yeah, the new account bonuses are where it's at, but I don't put much effort into them. I had Discover for a while and did the math on a Chase Southwest card, and it was the 60k bonus points that made the difference by far... the month to month points/cash back across various cards all seem to be roughly the same.

**luv** · 05-20-2022, 10:01 AM

I transfer it from my car and/or purse to my kiddo's piggy bank (stormtrooper head bank). Once it's full, we take it to a Coinstar at Walmart and he gets to spend it on whatever he wants. Not to worry. I do also have a savings account for him that I contribute to every payday and where holiday/birthday money goes. This is just "for fun" money for him. Also, I try to keep quarters in my purse for the occasional toy/gumball/candy machine.

**DaFace** · 05-20-2022, 10:07 AM

Quote:

Originally Posted by ThaVirus

Congratulations on the upcoming trip. I know from past convos you and Lew are heavy in the credit card rewards game.

I just stick with my AmEx for gas and grocery purchases and then put everything else on my CapitalOne for 2% cashback. It's a good system and I don't mind keeping it simple. I have considered "churning" through some new cards just to get those "$250, $500 cashback when you spend $1000 on this card in the first 3 months" sort of deals but that's just a bit much for me.

My goal is to pay off a trip to Hawaii for my gf and I with my credit card rewards. At this point I'm actually pretty close.

Yeah, there's nothing wrong with keeping it simple, and cash back cards are the best place to start for 95% of people. You can get a ton more bang for your buck if you go for travel rewards, but it's FAR more complicated (despite what a lot of online blogs and videos tell you). But that said, you can get some insane experiences if you dedicate the effort. A friend of mine (who I would call an expert) just took a trip to Germany, and on the way back he flew Singapore Airlines' first-class suite:

Again, 100% paid for using credit card rewards.

**DaFace** · 05-20-2022, 10:11 AM

I will say that, if you travel by plane a few times a year, having a credit card that comes with lounge access is a perk you come to love. Sometimes they're a bit crowded, but there's just something way too fun about starting a trip with all the free food and drink you want.

**DaFace** · 05-20-2022, 10:14 AM

It occurs to me that I'm hijacking the thread, but this could be a fun topic on its own. New thread incoming!

Graystoke · 05-20-2022, 10:14 AM

I throw my change into a big glass flask and then the Grandkids raid it for candy and pop.
Little greedy kids.

**notorious** · 05-20-2022, 10:37 AM

Quote:

Originally Posted by Jewish Rabbi

How do you prove it? I get a minimum 2% rebate on anything I buy.

You'd be shocked at what happens when you offer cash in a private deal.

It's a HELL of a lot better than 2% off.

I don't have to tell you the benefits of being paid in cash for work........

**notorious** · 05-20-2022, 10:40 AM

There are a lot of places that up charge 3% for credit card use and you guys don't even notice. If you tell them you are using cash they wipe it off the total.

That kind of cancels any benefit you get from using the card.

If a customer wants to use a card on a 10k floor, it will cost them 300 more. I'm upfront about it, and some still go through with it. Insanity.

**DaFace** · 05-20-2022, 10:45 AM

Quote:

Originally Posted by notorious

There are a lot of places that up charge 3% for credit card use and you guys don't even notice. If you tell them you are using cash they wipe it off the total.

That kind of cancels any benefit you get from using the card.

If a customer wants to use a card on a 10k floor, it will cost them 300 more. I'm upfront about it, and some still go through with it. Insanity.

The suites I mentioned above typically go for about $15k, and my friend used about 100k miles for it (theoretically worth $1k), generated using a card setup that averages around 2.5x earning. That's certainly an outlier, but it's not out of the question that some people value their rewards earning at >3%.

Jewish Rabbi · 05-20-2022, 10:50 AM

Not out of the question to be earning 3% or more straight up on purchases either. I always pay the "convenience fee" to pay my utilities online as that is way less than the 5% I earn on the purchase.

**notorious** · 05-20-2022, 10:52 AM

Quote:

Originally Posted by DaFace

The suites I mentioned above typically go for about $15k, and my friend used about 100k miles for it (theoretically worth $1k), generated using a card setup that averages around 2.5x earning. That's certainly an outlier, but it's not out of the question that some people value their rewards earning at >3%.

We can go deeper and figure in the 3% as a business expense, but use the points/cash in a private purchase.

That's another way to come out a little ahead.

I'm set up to cycle a 2 year old work truck into my personal use for the kids to drive to school. Truck is 100% done on the tax schedule, and I'd have to show it as income in a trade-in (well, the difference anyway). Might as well write the incoming new truck off 100% and get an excellent vehicle for the kids in the backend.

Thousands of dollars saved by playing the game right. Just like credit cards.

View Poll Results: What do you do with coins as change?
I donate it to beggars	2	4.08%
I run it through a change machine that charges 10%	6	12.24%
My bank loves change, except for the tellers.	13	26.53%
I keep it in a jar with no idea how to cash it in for its value	28	57.14%
Voters: 49. You may not vote on this poll

05-19-2022, 08:01 PM
Stewie MVP Join Date: Oct 2006 Location: West of the Equator Casino cash: $-1610099	What do you with the coinage received as change? Pennies, nickels, dimes... What do you do with them?
Posts: 13,833

05-20-2022, 10:01 AM	#66
luv You think you can get by this? Join Date: Dec 2004 Location: Springfield, MO Casino cash: $-1180000	I transfer it from my car and/or purse to my kiddo's piggy bank (stormtrooper head bank). Once it's full, we take it to a Coinstar at Walmart and he gets to spend it on whatever he wants. Not to worry. I do also have a savings account for him that I contribute to every payday and where holiday/birthday money goes. This is just "for fun" money for him. Also, I try to keep quarters in my purse for the occasional toy/gumball/candy machine.
Posts: 63,558

05-20-2022, 10:11 AM	#68
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $-1673101	I will say that, if you travel by plane a few times a year, having a credit card that comes with lounge access is a perk you come to love. Sometimes they're a bit crowded, but there's just something way too fun about starting a trip with all the free food and drink you want.
Posts: 53,124

05-20-2022, 10:14 AM	#69
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $-1673101	It occurs to me that I'm hijacking the thread, but this could be a fun topic on its own. New thread incoming!
Posts: 53,124

05-20-2022, 10:14 AM	#70
Graystoke MVP Join Date: Sep 2005 Location: Driftless Region Casino cash: $-2440000	I throw my change into a big glass flask and then the Grandkids raid it for candy and pop. Little greedy kids.
Posts: 9,607

05-20-2022, 10:40 AM	#72
notorious Supporter Join Date: May 2005 Location: Who knows? Casino cash: $-764116	There are a lot of places that up charge 3% for credit card use and you guys don't even notice. If you tell them you are using cash they wipe it off the total. That kind of cancels any benefit you get from using the card. If a customer wants to use a card on a 10k floor, it will cost them 300 more. I'm upfront about it, and some still go through with it. Insanity.
Posts: 88,504

05-20-2022, 10:50 AM	#74
Jewish Rabbi What's up braj? Join Date: Jun 2008 Location: Placencia, Belize Casino cash: $-1586750	Not out of the question to be earning 3% or more straight up on purchases either. I always pay the "convenience fee" to pay my utilities online as that is way less than the 5% I earn on the purchase.
Posts: 16,914