Post Content

Posted by: 
Jayda Leder-Luis

Jayda bug

This whole experiment of not using my debit card has made me more aware of each cent I spend. Literally.

I always carried a few pennies and dimes in my wallet, but after a week I’d stash them away in a change jar at home. It’s practically empty, considering how little I used cash in the past, but after these past two weeks I’ve notice substantial growth.

My bank has a “keep-the-change” policy, so that every time I use my debit card the purchase gets rounded up and the change is deposited into my savings account. While this feature is basically the electronic version of my change jar, I never noticed its effects. Seeing the physical jar containing actual money creates a mental note of all my purchases and ultimately has a bigger impact on my spending and saving habits. 

Since I stopped using my debit card, not all of my change gets dumped in the jar. I use it every chance I get and frankly it’s made most transactions easier.

Take the example of a $2.64 cup of coffee. I can either hand the cashier exact change, or pay $3.14 and get 50 cents back.  Keeping exact change for times like these means I don’t receive burdensome amounts of change back, or better yet can control how much I do get. By doing a little math each time I was at the register I was able to collect enough quarters to do a whole load of laundry. It only took me four days and didn’t require a separate trip to see a bank teller.

So far there has only been one downside to using up my change. A few days ago I was in a fairly long line and it was getting longer by the minute. As I reached the counter, ordered and began to pay, I heard the gentleman behind me grumble something about wasting his time. He had his debit card out and was ready to swipe and dash out of there, but my minute-long transaction was too long for him. When I received my change I slid to the side to let him order while I put my change back in my wallet. He was done before I was, and gave me a look that screamed contempt. 

Yes, cash transactions tend to take a bit longer, especially when the cashier has to count change back. It’s still money, though, and using it makes a lot of sense to me.

Written By:

Recent Posts

Settling disputes with your landlord posted on Aug 24

Settling disputes with your landlord

    Most landlord and tenant relationships are professional, if not amicable, and without incident. But when there is a problem, how should it be resolved? There are various remedies that can address a host of problems between landlords and tenants. Find some below.     …Continue Reading Settling disputes with your landlord

Renting 101 posted on Aug 22

Renting 101

  The concept of renting seems easy enough – find a place that meets your needs, agree with the landlord on price and length of lease, sign and make your payments. But you should understand the importance of your obligations as a tenant as well   …Continue Reading Renting 101

Why Parents & Guardians of College Students Should Review Insurance Policies Before Move-In Day posted on Aug 17

Why Parents & Guardians of College Students Should Review Insurance Policies Before Move-In Day

  The last week of August is when most students start heading to colleges and universities. While your focus is likely on your student’s move and making sure his or her living space is safe and comfortable, don’t forget to review your insurance coverage so   …Continue Reading Why Parents & Guardians of College Students Should Review Insurance Policies Before Move-In Day