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Your Loose Change Habits

This is one of those little things that most people don’t really pay attention to which actually came up when I had a casual get together with some friends. While we were walking around, one person was buying drinks and snacks here and there whenever something piqued his interest. For example, if we walked by a Starbucks he figured that he might as well buy a cup of coffee or if there was a Tim Hortons that he’d buy say a quick snack. The interesting thing is that he openly admits that it is not so much that he is really that hungry or thirsty but rather he had some change in his pocket and figured that he might as well use it up. For those who don’t know, here in Canada we have coins instead of bills for a one and two dollar amount. One dollar is called a “Loonie” and two dollars is called a “Toonie”.

For myself when it comes to loose change, at the end of the day I personally just store it away as it is a little too inconvenient to constantly carry it around. I must have hundreds of dollars in loose change that have been accumulated so far and is ready to go to the bank. It makes me wonder what I would have wasted all that money on by buying something impulsively like say from a vending machine. I suppose the more interesting thing is trying to understand exactly what makes some people feel that they have to spend their pocket change just for the sake of using it up as oppose to say saving it or using it in a more productive way. This is definitely one of those little things that add up I guess you can say.

4 Comments to Your Loose Change Habits

  • Hi Alan,

    Well a lot of people do what you have posted here and I liked your idea of saving the change. How much you have saved till date? It might be good sum of money cos it’s ready to go to bank.

    Daniel 2/26/2007 9:58 pm
  • Hi Daniel,

    I haven’t counted the exact total yet but I know it is in the excess amount of over $300.

    Alan Yu 2/27/2007 1:02 pm
  • Hi, Mr. Alan Yu, I am an english editor in a famous finance and management blog website company from Beijing. China. I have visited your blog from time to time and find your material are valuable. so I felt driven to contact with you and have a cooperation with you. If you don’t mind, I want to translate some of your articles and release them on our website. So the chinese will have opportunity to share your thoughts and ideas. What do think of it? I am expecting to your reply!


    sunny 3/5/2007 11:59 pm
  • Hi Sunny,

    You can discuss it with me further through e-mail.

    Alan Yu 3/6/2007 12:26 am

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