How this simple $5 saving hack turned into $50,000
Journalism professor Marie C. Franklin has shared the simple $5 saving trick that has helped her save $50,000 by following the rule for the past 13 years.
And the trick is so easy, anyone can do it.
To do it, pay for tems as often as you can with cash. And when you get the change, save every $5 note you receive. At the end of your month, once you’ve got a stack of fives up your sleeve, deposit them all into a separate bank account.
Franklin reportedly came up with the idea when she was struggling to save on a tight income while supporting her two daughters as they went through university.
“I made a decision that forever changed my relationship to money,” she wrote.
“Every time someone handed me a five-dollar bill I hid it away. I refused to spend it under any circumstance and started accumulating those fives, first in a separate compartment of my wallet, and then, as the pile grew, in an envelope.
“As the $5s started adding up, I put them in a separate bank account. Within weeks, I had a nice little stash, more than $200. Then $350. Then $500. “As the $5s started adding up, I put them in a separate bank account. Within weeks, I had a nice little stash, more than $200. Then $350. Then $500. By the end of the first year, I had saved almost $2000.”
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