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Brother, Can You Spend A Dime?

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The Tampa Tribune

Published: December 17, 2008

The problem with these federal bailout bills is they are too complicated. There are too many moving parts, too many caveats, too many clauses which obscure a clear understanding of exactly how these billions spent will stimulate the economy.

What America needs to do is think small. Real small - as in spare change.

The average American household has approximately $90 in loose change sitting in jars, bowls, car cup holders and drawers, says Coinstar, the company that operates coin-counting machines found all over the nation. With the United States hovering around 112 million households, that's more than $10 billion in currency just sitting around gathering dust.

So let's get out and put that money to work. You can spend it, or you can donate it to a charity that's hurting right now. You can put it in your bank account for a little liquidity.

Many banks have coin-counting machines you can use for free, and even Coinstar - which makes a pretty penny counting your loose change - has deals with major retailers where you can exchange your change for an even value gift card.

It's not a new idea. College kids gather up their pennies all the time for stuff. Maybe as many as a quarter of U.S. households already rely on that spare change to get them through the holiday season.

But the rest of us have a little ka-ching that could be put to good use in an economy where every penny counts.

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