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

May is Military Appreciation Month posted on May 26

  May is Military Appreciation Month and the Office of Consumer Affairs and Business Regulation, together with its regulatory agencies, acknowledges and remembers all the men and women who have made the ultimate sacrifice in service to our country. The Office also extends sincere and   …Continue Reading May is Military Appreciation Month

Online Smarts: Dangers of Public Wi-Fi posted on May 26

  Free, public Wi-Fi is available almost everywhere today. From the usual spots, such as coffee bars and airports, to the less common, such as steakhouses and amusement parks, public Wi-Fi is a convenience upon which most consumers rely. The problem with public Wi-Fi, however,   …Continue Reading Online Smarts: Dangers of Public Wi-Fi

Online Smarts: Crowdfunding Scams posted on May 20

  Crowdfunding websites have become major platforms for raising money for various causes, from the production of a local band’s first album to the payment of a cancer patient’s medical expenses. While websites like Kickstarter and GoFundMe have been instrumental in funding entrepreneurial products and   …Continue Reading Online Smarts: Crowdfunding Scams