The $5 Savings Plan

  In September of 2012, I was browsing Pinterest (again) and came across something called the $5 Savings Plan.  It sounded pretty easy, so I began!

  For the $5 savings plan, you never spend a five dollar bill.  You get it as change, or the teller at the bank hands you a few when you're withdrawing cash, or someone's paying you back the money they owe you...never spend a five dollar bill!  It was a little difficult at first to remember, but I just stuck it in a separate pocket in my purse and it became easier and easier.

  I didn't know what I was going to save them for, but it was going to be for something big.  So in August of 2013, when we decided we were going to Mexico, I decided that all the 5's were going toward that.  By the time December came around, I'd been saving for 15 months and had a total of 500 dollars saved in five dollar bills!  And when I came home, I had some left over, and started all over again!  And within the past three months, I've saved over $200.  Although, it's really helpful when you pay for a $10 pizza with a $50 and the guy gives you $40 change in 5's.  :)  The key is to not ask for fives in change or cash in any setting!  I decided to set this money now aside for a little trip I may be taking in May.  Otherwise, it's just going to be set aside for vacations.

  Another thing, I don't ever spend change.  One, I hate taking the time to count it out at the check-out.  But two, you usually get change back when paying in cash.  And that change can add up quickly.  Not as quickly as five dollar bills, but still... :)

  I just wanted to share this little savings plan with you because it's really worked!  It also makes me more aware of what I'm spending.

  If you've tried this before, what did you think?  If you haven't, let me know what you think of this idea!

Sierra