The Five Dollar Bill Hack That Could Help You Save A Fortune

Leah Bourne By Leah Bourne
August 9, 2018
$5 Bill Saving Hack
Some of the links in this post are from our sponsors, and we might earn a commission if you click on one.

Here at The Money Manual, we are constantly on the hunt for tricks to help us save more money. One of our new favorite hacks involves cash and specifically $5 dollar bills, and we suggest you add it to your money saving routine stat.

Here’s how it works:

1. Start using cash for your every day purchases. Beyond being a key component of this $5 dollar bill saving hack, setting a budget for the week and then withdrawing that amount in cash will help you limit your spending.

2. Now, every time you use cash and get a $5 bill in change, tuck that $5 bill away somewhere.

3. When you’ve gotten to have enough $5 bills, around $100, put that amount in a savings account.

4. Start investing that pool of money when you’ve saved around $1,000.

Now, you are probably thinking, huh, how is this actually going to save me money, but it’s been proven to work. One Massachusetts woman, a former Boston Globe journalist, for instance, attested to putting aside every $5 she got as change since 20015, amounting to about $35 a week. She ended up with a nest egg of $40,000. That’s damn impressive if we do say so.

Feature Image: Unsplash