The $5 Savings Plan - Have you tried it? - Page 14

Quote:

Originally Posted by ember15 

I rarely have cash either though I keep those 5s for monthly Bunco!  

 

I started using a rewards CC the 6,3,3,1 Card fit my spending habits 6% off Groceries, 3% off Gas, 3% off Retail, 1% off everything else.  I just make sure every week to go on-line and make a weekly payment. So my balance never grows. 

 

It sounds like a great idea for those who use cash.

 

 

What card is it?  I thought mine that paid 2% was good .  This one sounds great!

What I have done is everyday after work I empty my pockets of change and set it aside.  We have soda machines at work and my change adds up after awhile.  Started doing this in October last year and at Christmas cashed it in and had $190! Not bad at all. Started the jar again after that and it has almost $60. now. Even my two teen boys contribute to it from time to time. It's a quick way to save a bit of money.

I started December 1, 2012. I decided each month to keep a separate envelope so I can see which month I saved most in. I used cash for groceries & Christmas shopping the entire month and now that we are in January, I pull my grocery budget in cash out of the ATM and save my $5 bills when I get change.

In December I saved $290 and so far in January 2013 I've saved $150. I won't meet the rumored $12,000 mark that the initial person allegedly did, but I will have a nice cushion next November when Black Friday hits and it's time to buy Christmas presents again. If I manage to keep up with this, I will make it a usual way to save each year. So far so good.

I started December 1, 2012. I decided each month to keep a separate envelope so I can see which month I saved most in. I used cash for groceries & Christmas shopping the entire month and now that we are in January, I pull my grocery budget in cash out of the ATM and save my $5 bills when I get change.

In December I saved $290 and so far in January 2013 I've saved $150. I won't meet the rumored $12,000 mark that the initial person allegedly did, but I will have a nice cushion next November when Black Friday hits and it's time to buy Christmas presents again. If I manage to keep up with this, I will make it a usual way to save each year. So far so good.

I started the "$5 Savings Plan" last February. It is awesome. At first I was unsure if I could really save every $5 bill. My boyfriend and I did. It has been an entire year since I have spent a $5 bill. We used our money through out the year for vacations and special things that we wanted. We went to Va. Beach, Nashville, Pigeon Forge, as well as 3 camping trips. It is our fun money. This year we have a goal, we want to go to Disney!! It's now second nature, I get a $5 in change at the store and I have a specific place in my wallet that they go. I opened up a sub-savings account and once a week I put our $5 into it. It keeps it out of spending reach. I have to go to the bank to get the money out to spend it. It's great. I can't imagine ever spending one again. I love it, and highly reccomend it.

Maybe those of us who choose to "swipe" can get cash back ($5) to save??  Unless of course you swipe more than once a day... just set a limit.   Just a thought that I think I might try.

i like this idea. i'm a mother of 4 chirstmas is pretty hard, I'm a massage therapist and get $5 for tips all the time. gonna try and see if i can pay for christmas this way =) thanks for the idea. i'll let you know in nov how i did

I have been using the $1 savings plan for years.  It works incredibly well.  Although I don't use cash about half the time I still manage to save more than $1000 a year.  These dollars have been used for vacations  including a few first class flights and week long condo rentals.  Well worth doing in my opinion.  

I actually did this with Singles. If I had a dollar bill or bills, when I got home, I put it into the jar. By the end of a month I had $80...