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October 30, 2005

The Power of Ones

Never underestimate the purchasing power of a coffee can!

Like a lot of people, I'm not a big loose change guy. When I walk in the door, any change comes out of my pockets and gets dumped into my coffee can. And it's not a large one. There's not much you can buy with change anymore, and paying with exact change at the store is a pain (my personal strategy is "here are some twenties, as that is what the ATM gives me").

Where I'm a little more insane than most people is with singles. I hate dollar bills. They're worth next to nothing, so to have any worthwhile amount of them your wallet is bulging like Bob Dole on Viagra. They are good for buying drinks from vending machines, mind you, except for those evil ones that charge $1.25 for a soda. Which is still better than the machines charging completely oddball amounts like 65˘, but I digress.

So dollar bills join change in my Coffee Can of Monetary Annoyances. I usually keep a couple in my wallet, but they multiply like mad every time you buy something with cash, so I don't ever have to actively put them back in my wallet.

They do add up quickly on days like today when I empty the coffee can.

All told, the darn thing was holding $130.40 worth of liquid assets. Cold hard cash! I can feel my net worth increasing already. And all that time sitting in a coffee can, it was earning just as much interest as it would have in my savings account!

C'est la vie, I opened an account with Desert Schools this weekend and I'll be heading down there later to make my opening deposit. They're paying out 1%, which isn't as good as ING Direct (which as of last night was, I believe, 3.40%), but it's imminently more accessible than ING if I need it in a financial emergency.

Posted by Colin at October 30, 2005 10:52 AM

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