This is part of a series of posts for our Save $1,000 in September campaign, where we show you how to be $1,000 richer in just 30 days.
Potential Savings: $30-$80+/month
The $5 Saving Plan
This is one you can start today. The rules for this saving trick are simple: every time you have in your possession a $5 note, you place it in a savings jar.
Then, at the end of the month (or whenever) you empty it and deposit it in your savings account.
This is such a simple yet powerful way to save thousands of dollars. One woman saved over $12,000 in just 3 years by using this method! How much could you save?
For this to work well, you will need to start using cash a lot more. Obviously, the less you use your cards and the more you use cash, the more you will save.
Variation
If you cannot afford to use $5 notes, you can always use this rule for all gold coins. Or just $2 coins. Or any other coins.
If you are feeling rich (or strict) then increase it to all $10 and $5 notes.
How much do you think you could save in 30 days using this saving method?
Leave a Reply