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The Pinch-o-Matic is designed to save money by taking things out of the trash and says how much money would be saved by using it. The device consists of the trash bin, a hook attached to the ceiling that hooks on the discarded item in the bin, and a separate buzzer on the wall.
Role in episode
The Pinch-o-Matic prevents SpongeBob from throwing away an old Krabby Patty - the Foggy Patty in particular - and sends out an alarm. Mr. Krabs then rushes in and takes the patty from the device and the Pinch-o-Matic states that it saved 5.2 cents.