Loose Change Pays My Debt version 2

lordash

I've been collecting all my loose change up for over a year now, have saved up £736.21 atm and am going to bank it all in NatWest's coin counting machine when I get to £1000, and use it to make a few full and final payment offers.

I've been gathering quite a lot of loose change that people drop around vending machines at uni. It may not appear to be worth it, but I have collected about £50 over 1 week by doing this (about 2-3 hrs in total spent searching) so well worth doing. Just need a long ruler or something to get all the coins out from underneath.

Also this method is quite good at stopping any unnecessary spending, since I refuse to spend any change I get, in effect everything I buy costs me at least £5. But now I am so close to target, I find myself buying things just to contribute to the pot

budget_2

Good Morning Rosepink84

quick update just when I thought I was doing well, I had to use most of my loose change towards a small bill, GUTTED, will have to start again total saving now £3.19.

good luck to thoughs all doing well.

purplecatlover

lordash why not open a savings account for it and start earning interest on it while your saving it up to pay thinsg of?

aww sorry budget its a pain when we have to spend it isnt it.

lordash

purplecatlover, that's not a bad idea actually, I did not have a NatWest or HSBC account until fairly recently, so had no way of paying in the coins. Now that I do have one, there's no excuse really.

Thing is, I sort of got quite attached to it in a strange way, the coin savings started off in an ashtray and then a biscuit tin, until about 6 months ago when I transferred it all to a large plastic crate that has been sitting in my room ever since. But its getting a bit heavy now, so maybe I should get rid of it .

WannaBeDebtFree_3

Rosepink1984 - Thanks for the welcome. :T

Lordash - Probably a stupid question, but do all HSBC's have coin counters? I can't remember seeing one in my local branch, but must admit I haven't been in recently as it's in the middle of town and i am trying to stay out of the way of temptation.

If not what other ways are there as I know banks are not keen on taking change over the counter anymore?

Added £5.23 to my total today as I found another jar with forgotten coins in. Tidying the spare room is definitely paying off!

tattycath

My kids bought me a plastic bottle money box at christmas-so I'm saving as much as I can. So far this year I have £49.00

purplecatlover

lordash wrote: »

purplecatlover, that's not a bad idea actually, I did not have a NatWest or HSBC account until fairly recently, so had no way of paying in the coins. Now that I do have one, there's no excuse really.

Thing is, I sort of got quite attached to it in a strange way, the coin savings started off in an ashtray and then a biscuit tin, until about 6 months ago when I transferred it all to a large plastic crate that has been sitting in my room ever since. But its getting a bit heavy now, so maybe I should get rid of it .

another reason to get rid
ivbe always ahd a change pot on my mantlepiece....was gutted when we got burgled and that was one of the few things they got away with (student house, should ajhve been away for vacation but had stayed put) they got disturbed we believe since they never made it to my room where everything was boxed up ready for moving and would ahve been easy peasy pickings. wasnt much in my change pot then though, id be more upset now there is more than pennies in it.

clearing_out_my_pockets

Hi all - hope the new year is being kind to you all!

Rosepink my 2009 total on the front page is wrong - I banked another £60 in post #677.

I've got OH in on this now and our combined pot £78.34

lordash

Update! I've decided to take up purplecatlover's advice and I took all my change to the bank yesterday, I already had a lot of money stolen a while back by a rather nasty former housemate, and did not want to go through with that again so decided to cash in. The box weighed a ton and I had to drag it all the way to NatWest in town. I had so many coins that I had to cash it in three separate goes, for a total of £746.60 (plus £9.01 rejected) - a total of just under 3,500 coins! Used some of the £9.01 to buy lunch and have started collecting over again, continuing where I left off.

Here's what £755.61 in coins looks like:
http://yfrog.com/1nimage0472j
And my deposit slips:
http://yfrog.com/5dimage0474tj

Have used the money to pay £250 off my credit card and £500 off my overdraft. Such a nice feeling when you've paid off something with change!

Lordash - Probably a stupid question, but do all HSBC's have coin counters? I can't remember seeing one in my local branch, but must admit I haven't been in recently as it's in the middle of town and i am trying to stay out of the way of temptation.

Hi WannaBeDebtFree, not a silly question at all, the coin counting machines are a fairly new thing, but most of the major branches seem to have them. See these threads for confirmed locations

http://forums.moneysavingexpert.com/showthread.html?t=2172027

http://forums.moneysavingexpert.com/showthread.html?t=549872

purplecatlover

that is an amazing ammount of coins lordash, very impressive. bet it feels great being 750quid less in debt too? well done. and keep up the excellent work.