I read this wonderful savings plan from someone else’s blog, called the ‘Five Dollar Savings Plan”. It’s a simple activity that anyone can do. Basically, you commit to yourself that every time you encounter a five dollar bank note in your day to day cash transactions, you keep it and refrain from using it to spend on other things. At the end of the day, you keep those notes in your little safe or piggy bank and watch it accumulate as you gather more five dollar notes. Over time, say every three months, you open it up and count the amount of money you have saved and it would be enough for a nice little treat for yourself. I tried this 6 months ago and after around 3 months, I would have a peek and I am quite amazed at how many I get to save. I got more a hundred dollars worth of five dollar notes which I can now treat myself on the things I need, or I could just continue saving it for rainy days, or for something huge I want down the road.
It is a simple commitment, one that does not have to spend too much time on. Try it!