Why I Think Coinstar is Lazy and Wasteful
August 27th 2007 12:36
I am definitely not a fan of coinstar. It takes a percentage of what you put into it, if you want to get cash back. Why can’t a person roll his own coins? I’ve done this many times since my age was in the single digits.
Some might argue that now you can get gift cards to certain places and you don’t lose a percentage. However, that might make you just buy “stuff” that you don’t need, and never planned on having in the first place.
I would think the money is better spent on debt repayment. If you’re lucky enough not to have debt, then max out a retirement fund. If you’ve already done both, then maybe you can have it for play money.
If the problem is time, then don’t wait for a few months to roll your coins. Or, if you have a big tub, don’t roll it all at once, just what you think you need right then.
I guess I just don’t understand why someone would just give away their money like that. It may not be a lot of money, but I couldn’t do it.
Maybe I’m crazy?
Some might argue that now you can get gift cards to certain places and you don’t lose a percentage. However, that might make you just buy “stuff” that you don’t need, and never planned on having in the first place.
I would think the money is better spent on debt repayment. If you’re lucky enough not to have debt, then max out a retirement fund. If you’ve already done both, then maybe you can have it for play money.
If the problem is time, then don’t wait for a few months to roll your coins. Or, if you have a big tub, don’t roll it all at once, just what you think you need right then.
I guess I just don’t understand why someone would just give away their money like that. It may not be a lot of money, but I couldn’t do it.
Maybe I’m crazy?
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College of Cash