If one of your 2018 goals is to save more money to travel you’re in the right spot! I know there are a ton of “ways to save” tips on the internet that we all quit within a week or two. But in just a few months, this one has managed to help me save over $1000 towards my travel funds and I recommend you give it a try! I found the 5 dollar challenge on several Pinterest boards and I just couldn’t resist.
So what is the challenge?
It’s easy! Every time you get a five dollar bill in your possession, you have to save it. No matter what, you are not allowed to spend or give away any 5 dollar bill you touch. This method works best for those that receive tips at work (but everyone can still benefit). If you receive a 5 dollar bill, you are not allowed to exchange it, break it down, tip anyone etc. You just have to SAVE it! If someone gives you $100 worth of 5 dollar bills, guess what? You can’t do anything with it, except save it. It takes serious dedication to remember not to spend it, but honestly your guilty conscious will eat you alive if you do.
You can store your money in several ways to keep track of your savings. I preferred to place it all in a mason jar and watch it grow. Some people found inexpensive shadow boxes at a thrift store & wrote out the amount every time they added to it. You can literally use anything in your house: shoe boxes, envelopes, old vases that’s collecting dust in the corner, shove it under the bed…anything!
Today is the first of the year, so what better time to start than now? When ever you read this, make that day one of 365 and see how much you actually save.
Let me know if you will be joining me on the challenge so we can motivate each other!!!