Have you heard about the $5 Savings Plan? It's an idea that's been circulating in the blogosphere for awhile, so I thought I'd see if any of you have tried it. What I like about it is that it seems like a relatively painless way to save, and yet could add up to pretty substantial savings over the course of a year. Who knows, you may be able to use it to pay for your Christmas gifts later on this year!
Here's how the $5 Savings Plan works: Whenever a $5 bill comes into your possession, you save it in a special jar or envelope. Over time, they will add up. The more you incorporate using cash into your spending habits, the more you will save (if you're a credit card user, you won't save as much).
Have you tried the $5 Savings Plan or another similar savings method? How did it work for you?
