BELLEVUE, Wash.–(HISPANIC PR WIRE)–August 13, 2003–Back-to-school shopping
can take a bite out of family budgets. It is estimated that consumers
will spend $14 billion* this year when preparing for the start of the new school
year. Families with school-age children are expected to spend an average
of $450* on back-to-school items, an increase of $8 over last year’s budget.
Parents looking to stretch the family budget may not be aware of the hidden
wealth that lies within their homes that can help off-set back-to-school spending.
According to Coinstar Inc., the average American household has $99 in change
sitting idle in the home. When cashed in, $99 can buy many back-to-school necessities.
Based on the most common school supplies necessary for the start of the school
year, the following list of “essentials” can be purchased with this
idle change, leaving some additional money leftover.
One canvas backpack
Six (6) one-subject notebooks
Two (2) stacks of 150 sheet
college ruled paper
Six (6) three-ring binders
Six (6) folders
Pack of six ball- point pens
Families interested in supplementing their school budget can quickly and easily
turn their loose change into real money for back-to-school shopping through
Coinstar, the leading supermarket-based coin-counting machine operator. With
many basic school supplies sold at supermarkets, parents can use their Coinstar
credit from cashing in coins at the Coinstar machine towards the purchase of
back-to-school items at the store check-out. Alternatively, they can get
paper currency for their coin to spend on other back-to-school needs.
“As the start of the school year nears, Americans will dig into their
pockets to purchase supplies for their children,” said Dave Cole, chief
executive officer of Coinstar Inc. “Coinstar can help Americans tap
into the value of their loose change by turning it into spendable cash to buy
school supplies, clothing, and other necessities.”
Recognizing that many people underestimate the amount of money in pennies,
nickels, dimes and quarters they routinely toss into their coin jar or piggy
bank each day, Coinstar has a feature to its Web site (http://www.coinstar.com)
to help consumers estimate the value of their accumulated coin by the size of
the container in which the coins are stored and the average coin mix (22 percent
silver, 78 percent pennies). A one-gallon container holds $160.95, a 32-ounce
jar holds $40.24 and an 8-ounce container could be hiding $10.06 in coins.
About Coinstar Inc.
Coinstar uses technology to deliver time and money saving services to consumers
in their local supermarkets. Coinstar’s network of more than 10,000
machines is currently available to 160 million consumers in 48 states and the
District of Columbia, as well as in Canada and the United Kingdom. Consumers
can visit http://www.findcoinstar.com or call 1-800-928-CASH to find the nearest
* According to the National Retail Federation
M. Silver Associates Inc.