The $5 Savings Plan - Have you tried it? - Page 8

It's just that cash is so germy and dirty, I always use my debit card. 

Like many others who use swipe cards more than cash, there is an easy way to "make up the difference" -- with regular transfers of the "odd dollars adn cents" in your household account.   I check my bank checking account balance fairly often, and I can transfer between my checking, CC, and savings account.   If my balance at the end of the day is $777.36, I transfer 7.36 to savings.  If my balance is $701.36, I transfer $1.36 to savings.  Just any little "odds and ends" that ends in an equal amount.  Now, bear in mind, if you can't do the savings plan, this works for the credit card, too. You can transfers those little odds and ends to your CC balance instead, and every little bit helps lower that balance and decrease interest charges, plus, it protects you in the event you forgot to make a payment, and, it looks very good on your credit report to have frequent payments (more than required).   I always try to pay off my balance but for those months that I have to carry a balance, those small transfers really add up and often cover well over the minimum amount, plus anything else I elect to pay.

I actually tried something a little different. My husband and I said over and over that we would take our lunches to work and that we wouldn't spend mindlessly. So to solve the problem we each get $20 to spend each week on whatever we want. We only use our debit card on things we need for the house or for our daughter. If we don't spend the money then we'll have $40 the next week and so on. It has helped us so much! Now when we put our checks in the bank and the end of the week we still have money left over!

I used to use my debit card all of the time until the last 6 weeks. I only use cash now and have saved $400.00 already. This really works!

Yes, I have been doing this for years.....

my theory was - if you lose $5, you may look for it, but not nearly as hard as you would look for a $10, and you get way too many $1 bills in the course of a shopping trip.

I used them to purchase a new bed, a computer and a laptop.....the man at Beat Buy was less than thrilled at having to count them all out.....especially when I "helped" him count.....13  14  92  3  lol

1. I put my first five away!! I'm on my way!

I've not tried this one but what I have done in the past on several occasions is that any time I got paid and would withdraw money from my account I would get a roll of Quarters and put them in a water jug.  This was before I had gotten a debit/credit card so I don't do it as much being that now I just swipe my card and pay for things rather than withdrawing the money from my account and paying cash.  Any week that I had worked overtime, I would take that extra money (in quarter form as well) out of the bank and into my water jug.  It adds up very quickly and in less than a year, I had saved enough to get a new laptop (paid 550.00) a new 40 inch television (paid 350.00) and replaced my cell phone (paid 250.00)  I'm always looking for easy ways to save money....because honestly, if I have to put too much thought or work into it...it won't happen.  

I started this last week, and I'm already up to about $35. 

When I cash my paycheck, I just keep it in cash, I don't deposit any of it.  So I have a bunch of $20s in my purse.  (After I put the majority of the cash 'in my mattress' LOL)  When spend less than $10, I can break a $20 and put the $5 in my little stash.  Maybe I'll have $100 by the end of August! LOL!  We'll see.