Last week at this time, I was about half way through an 83-mile ride with 4000 feet of elevation climb. Anyone who says Iowa is flat has clearly never ridden a bicycle through the southern sections… I didn’t post an Ask the Readers last week, focusing instead on staying upright on the half-mile-long climb that I believe is second only to Mt. Everest in steepness. However, the week before, I asked about your side hustle. What do you do to make money on the side?
Jake at Common Cents Wealth made money flipping sporting event tickets. I love this idea, because he made several thousand dollars doing almost nothing. He planned ahead, sold tickets to people who did not, and profited. Nice job, Jake!
CJ at The Great JollyHoombah actually gets paid to teach people music. One gig he does online, and the other he does at the community college. While this is awesome for him, I would make zero money on this, owing to my complete lack of musical talent.
Nick at ayoungpro.com gave me an answer that makes my heart beat just a little bit faster. He flips things he finds at garage sales. I could do that! I love garage sales, and any excuse to go to them is welcome!!! Now, the trick is to find things that other people want, too. I did just sell our baby bike seat for $30 that I bought at a garage sale for $20. Nice money on a flip, plus I was able to use it two or three times before the baby got too big.
Mrs. PoP from Planting our Pennies has a great side hustle – rental property. They own a duplex, and for most of the year the property requires very little work. I was so intrigued by this, that I asked her if she would write a guest-post that details her experiences with the rental. Be sure to check in tomorrow to hear her thoughts on owning rental property.
OK, so now for this week’s question, do you ever leave a penny? Last week, while on RAGBRAI, I made several purchases that resulted in coins being returned to me. I was wearing a bike jersey at the time, which has only 3 small pockets in the back. Bike shorts have no pockets, so I would put my change into the Leave-a-Penny, Take-a-Penny cup. Being cheap frugal, this is difficult for me to do. I almost never utilize this particular cup, because I feel that if I don’t leave one from time to time, I shouldn’t take one either.
A penny isn’t worth much, but it adds up. I keep a jar for change by the washing machine, so when I am emptying pockets to do laundry, I just toss the change I find into the jar. When it fills up, I either take it to the bank (when I can find one with a change machine) or to Coinstar (if you choose to receive a gift card rather than cash, you don’t pay the 10% surcharge and Amazon.com is a gift card choice).
So, do you ever Leave-a-Penny? Do you take from the cup without depositing periodically?
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Lucas says
July 29, 2013 at 4:46 pmI have a hard time using them too. I think I have left a total of 3 pennies and used 1 in my lifetime of 29 years 🙂
Mrs. 1500 says
July 30, 2013 at 3:30 amUntil this past week, I have probably done the same thing. It is giving away money (to a non-charitable cause) and to take without giving is not right, either.
Lucas says
July 30, 2013 at 12:48 pmI have been contemplating this though, and wonder if it would do me good to have “freedom” to just give up to maybe $20 a month to whatever comes along without worrying about its “merits”. So whether that is the homeless guy on the corner asking for money, or putting my change in the penny dish, I think it would be a valuable excersize even for a month or two. We give over 10% every month so amount isn’t the point here, but just trying to gain more freedom?
Mrs. Herb says
July 29, 2013 at 5:39 pmI was trying to think if I have ever left a penny… and I cannot think of a time! Although, I pay for 99% of all transactions with a card, so this is probably the main reason 🙂
Mrs. Herb recently posted…Flounder Piccata
Mrs. 1500 says
July 30, 2013 at 3:31 amIt is just throwing away money – something that I am not excited about doing.
Mrs PoP @ Planting Our Pennies says
July 29, 2013 at 5:44 pmWhen we use cash, we definitely partake in the penny leaving and taking. Just feels like part of what helps grease the wheels of social interaction.
Mrs PoP @ Planting Our Pennies recently posted…Pimp The PoP’s Garage – Part 1 – Planning
Allie says
July 29, 2013 at 6:11 pmI may have left a penny before, on things like those 99-cent transactions where I don’t care to carry around a penny, but I don’t think I’ve ever taken one out before!
E.M. says
July 29, 2013 at 8:26 pmI can’t remember a time where I’ve left anything – but I don’t take anything either. I save up coins as you do – though I didn’t know about the giftcard option with Coinstar. That’s good to know, thanks!
E.M. recently posted…Do You Brown Bag It To Work?
Meg says
July 30, 2013 at 1:21 amIn my neighborhood most businesses are cash only, but most also don’t have those penny jars, so I don’t use them. It’s one of those artifacts of American culture that just hasn’t penetrated here.
Like you, we stockpile all the coins and put them in the Coinstar machine for Amazon gift cards. I saved $10 on my printer ink purchase last week.
Ree Klein says
July 30, 2013 at 2:24 amVery interesting question…I have left a penny, I’m quite sure of that, but I can’t remember the actual event. It’s rare. I usually put my coin in a coin purse and then try to spend it making exact change later. But mostly I use my AMEX Costco card because of the cash back.
I have a love/hate for Coinstar. Whoever dreamed that up is brilliant; however, most people aren’t as smart as you are and take the cash, which nets Coinstar a hefty take (hence their brilliance). For those that do take the gift card, I wonder how many are left unused… hmmm.
I guess my overall response is that it’s not in my nature to leave a penny, I’d rather my giving be for bigger hits solving bigger problems. But that’s just my way.
Ree Klein recently posted…Survey Sunday: How Much Savings Do You Need to Live Off Your Investments?
Mrs. 1500 says
July 30, 2013 at 3:29 amOn RAGBRAI, there are tons of local vendors who only accept cash. I usually use a card for everything, too. All those airline miles just being tossed in the trash in favor of cash…
cj says
July 29, 2013 at 9:40 pmWhat an interesting list of hustles, 1500! And a sincere thanks for mentioning the Hoombah. Hoping the 1500s have a splendid week and vivid dreams of cute little frogs on lily pads.
cj recently posted…I Do Good, But I Am No Do-Gooder
CashRebel says
July 30, 2013 at 12:22 amI do leave a penny because then I feel alright about taking a penny later. It’s such a small amount of money that it feels silly worrying about. I guess most of my transactions are on a credit card anyway, so it doesn’t come up too often.
CashRebel recently posted…Retirement Really Is Sexy
Micro says
July 30, 2013 at 12:27 amI can’t remember the last time I’ve left a penny in the tray. Of course, being a child of the digital age, I avoid using cash if at all possible. Cash leads to change and I hate carrying around change. I don’t like having to fill up some jar in my house when I can have it in an account potentially earning interest (however paltry it may be).
Micro recently posted…What to do when receiving advice.
SuburbanFinance says
July 30, 2013 at 1:09 pmI leave pennies. Canada has gotten rid of pennies as currency so there is little value in them now – I mean, you can still get your money if you take them to the bank, but I rather just donate them.
SuburbanFinance recently posted…Rent Vs. Buy
Randall says
July 31, 2013 at 4:09 amI hate pennies. They’re useless. Even if the store doesn’t have a “Leave a penny, take a penny,” I’ll leave the pennies on the counter. John Green agrees – check out the video in the link.
Elizabeth says
July 31, 2013 at 10:52 amI’ve noticed that since Canada stopped making pennies that these “leave a penny” trays are disappearing (at least where I live). Some businesses still use pennies when giving change while others are taking advantage of rounding up to the nearest nickel even when the have the correct change on hand. Sure, it’s not much — but it’s the principle of the thing.