$5 Savings if you haven’t heard of this, then your about to.
$5 Savings Plan
It’s so basic it’s great. The point is every time you obtain a five dollar bill you put it into savings. Usually into a special container which can be as common as a box. This seems small but it adds up over time.
Think of all the times you buy something at the store and receive a five dollar bill in change. It is simple, fun, and beneficial. Give it a shot.
Running some numbers because why not?
Let’s say you obtain three $5 bills a week from the change on average. Over the course of a year that is $780 that is a decent amount to have saved up. It is a great way to save up little by little.
I’ve only been doing it for a couple weeks now. To which I have saved $40 in only five dollar bills. It is satisfying to start filling up the small box I have for it. Sure when it is opened I look at it and think.
“That looks like a good night out with me and the boys.”
I close the box and walk away.
The $5 way is a Basic Rule strategy. For more information about savings, read my article on “Incorporating savings into a budget”. It’s always important to save your money and know your expenditures.
Additional Note: If you don’t pay with cash or get cash back very much, this strategy will never work.
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