Tuesday, May 31, 2016

Do All The Little Things Add Up? (2016)

One of the small tiny little things that I have done to improve the quality of my life is.... not caring about coins. I really don't care about coins at all. I hated having coins in my wallet because they would jingle, be bulky, be heavy and worst of all, they would ruin my wallet.

Back in 2014, I changed my life when I decided to do away with all my bulky and ugly wallets and I instead settled for a Bellroy Hide & Seek wallet. It is a slim wallet and it doesn't have a coin pouch. It's simple, but it doesn't look cheap, nor does it look flashy. Since then and now, the price hasn't changed, I still use my wallet everyday and it is as good as ever. I swear, without a coin pouch, your wallet can last forever. I remember the first few months I kept thinking I lost my wallet because I couldn't feel the weight of it in my pocket, haha! I love it that it actually looks like a wallet, instead of a round leather ball which I see so many guys carry around these days. It's looks hideous when they plop it on the table and it just looks weird when it's in their pockets.

What's that bulge? Or are you just happy to see me?

Anyway. That was the time where I decided enough was enough. I'm just going to have a small wallet to carry around cash and my big 4 important cards (NRIC, driver's licence, EZ-link / ATM card, credit card). Yes, that's right. I only carry 4 cards in my wallet, and my life is pretty awesome because of that. So where do I put all my coins that I get? Well, I solved that problem by having a coin piggy bank in my office and another one at home. Whenever I get back to my desk or when I step into the house, I empty my pockets and all the change goes into the box.

No more worrying about jingles in my pockets, coins stuck in my pants that goes into the laundry, and worst of all, fiddling with coins at the cashier to make exact payments or for better change.

I just visit the coin deposit machine once my coin boxes start getting full.

In Jan 2014, I put in $90.55
Now in May 2016, I have just deposited $262.44

That's close to $900 worth of coins in less than 3 years! Is it worth it to stash away your coins? You tell me.

For those that are not in the know, the Mint has so far discontinued rotating its machine around the different CC's. This means that there are only 2 options: Go deposit the coins with your bank (higher fees, POSB charges $0.012 per piece, more convenient) or go down to the Mint's head office at Teban Gardens (cheaper, $0.00375 per piece, but more ulu).

Given that the head office is only open during office hours and it is quite ulu, I decided to just bite the bullet and stick my coins in the bank's machine. Guess what? On 3 occasions (2 same branch, 1 different) when I went down to the bank, their coin deposit machine was broken. So, screw that!

I managed to get off early for lunch one day and I made my way down to the Mint's head office. It was pretty easy. You just walk into the main entrance and the machine is up against the wall. There are step by step instructions the whole way, but the process is pretty idiot proof. You just key in your personal and bank details, throw in your coins, then write down your details on another piece of paper. Done within a few minutes. They also have a nice showroom if you wanna buy expensive precious metals, or if you're super patriotic, haha.

Reader LG gave a good suggestion in my previous post last year, which is to sort out the coins to $10 packets and trade it with F&B stalls that need coins. Of course, in such a transaction, the fees would be zero. They need coins and you have coins, so it's a rather fair transaction. However, I got my 715 pieces of coins counted in a few moments and the fees only came up to $2.68. Personally, I think this $2.68 is worth it to not have to count through all my coins, then find stalls to trade with. But that's just my personal preference. It's always good to know of an alternative method!

My coin saving habit has helped me improve my quality of life and also have some nice deposits back into the bank. I will continue this habit. How about you?

Do you save your coins? What do you do with them?


  1. Hi GMGH,

    This is how a few financial bloggers and me save our coins > http://thefinance.sg/2015/08/18/show-me-your-piggy-bank/

    Do you have a piggy bank too? If so, care to share a picture of them?

  2. my wallet seldom has >$10. There were times with only a few coins left.


    1. Hi Starlight,

      Maybe it's because I'm kiasu, but I always have a $50 note rolled up and hidden in my wallet. Portable emergency fund lol!

  3. Hi GMGH,

    That's a good life hack.

    I always insist on a wallet with a coin pouch and I put my keys inside there. Within about 3 years, I would have to replace it.

    Nowadays, I also dump most of my coins into a box once I reach home. Maybe I can start considering a wallet without a coin pouch and make my wallet appear more a wallet rather than a leather ball. :p

    1. Hi Mr 15HWW,

      Wallet-shaped wallets instead of leather balls does away with awkward pant bulges, haha! After making the change, I can never go back to a wallet with coins ever again!


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