Saturday, April 19, 2014

$5 Savings Plan

As you know,  I am working on a Master's degree in Family Financial Planning - so many of my posts will be related to finances.   I even have a pinterest board called Money Matters.

Today - our topic is the $5 Savings Plan

 I know this is going to sound crazy to a lot of you; but it WORKS!    Saving for something $5 at a time is really easy if you follow this system!

In the spirit of trying to save for my (two) vacations at the end of July,  I need to have a plan in place for my personal spending money on the trip...a good friend gave me the idea for what I am now calling my $5 savings plan.

Here are the rules:
  1. Carry Cash
  2. Every Time you get a $5 bill as change - it goes straight to savings! 
That's it!  Those are the rules!   Simple!  (and effective!)

I have already put away nearly $100 in savings for my trip this Summer,  and I've only had this system in place for 6 weeks! 

What can you save for $5 at a time?   

Everything In Place Please

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