Frugal Stupidity: The Digital Money Jar

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Frugal Stupidity: The Digital Money Jar

Submitted by: Ray 10/30/2009 10:55 PM

While shopping at Sears this evening I came across the "Money Jar". It's a digital counting money jar which retails for $15. The tag line on the box says "See your money grow". I find it absolutely ridiculous that anyone would spend $15 on something that is suppose to help them save money when a simple free alternative already exists. It kind of reminds me of that old joke: "Learn how to avoid ripoffs send $5".

What's sad is some parents are going to buy this for their kids trying to instill the value of thrift. The best part of keeping a money jar as a kid was pouring out the coins on your bed and counting them out yourself like Scrooge McDuck. If the people purchasing this ridiculous item really want to see their kids money grow they should take the approach most kids do, get an old coffee can or juice bottle and cut out a slot in the top to fit coins through. It's creative, resourceful, and better displays the ingenuity of thrift. Best of all they're not out fifteen bucks.

With the recession clamping down on folks wallets, I've been noticing a growing trend on the part of marketers to pitch you products you don't really need under the guise they save you money. The digital money jar could serve as exhibit A.

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Comments:

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Add to the fact that it also requires batteries makes it even sillier.

Posted by Kareb on October 31, 2009 12:07 AM

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I actually bought one of these for my husband on clearance a few years ago, after Christmas, at a drug store for $2! He loves it, but there is NO way that I would pay more than $2 (which was about the cost of the jar).

Posted by JenLo on November 03, 2009 9:29 AM

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Many banks have machines which sort and count your change free of charge.

Posted by anonymous on November 10, 2009 9:55 AM

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My husband got one for Christmas from our daugther who got it for 9.99 plus used her 20% off coupon. He loves it - and they had a great time emptying his old fashion piggy bank into it and then marveled that he had over $60 in change. My kids all have the giant pickle jar for their piggy banks where they can see their money grow.

Posted by anonymous on December 29, 2009 4:13 PM

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