May 12 2009
What are you doing with your spare change?
NPR had a story on today about the “denomination factor” as an emerging trend, brought on by the current recession. The denomination factor states that people are more willing to part with change, than bills. A recent study showed that when one group of people was given dollar bills and another group was given the same amount of money, but in coins, the group with the coins spent it all while the group with the bills, kept most of it.
The story went on to discuss how people feel like they’re not spending as much when it’s “just change” and the person conducting the study went as far as saying that if she were in a position to make recommendations to President Obama, she would tell him to start circulating more dollar coins into the economy and even consider making a two-dollar coin.
Of course, “just spending” is partially what got us into the current situation but what I’m wondering is — what have been some ways you’ve cut back or figured out how to keep more money in your pockets?
Personally I save change and routinely “roll” it at my nearest CoinStar machine for a quick 10 or 15 bucks. Like most, I set the AC a degree or two higher and the heat a bit lower. I’ve had to run both this week (crazy NC weather). I nearly always drink water at restaurants. I bought a vacuum sealer and even plan to use it someday. Presumably to apportion the economical family-sized groceries I buy. I purposely cook enough to have leftovers for breakfast. Works real good when grilling boneless, skinless chicken thighs