{"id":1457,"date":"2023-03-08T20:14:13","date_gmt":"2023-03-09T03:14:13","guid":{"rendered":"https:\/\/www.happysimpleliving.com\/?p=1457"},"modified":"2023-05-11T16:30:42","modified_gmt":"2023-05-11T22:30:42","slug":"five-dollar-savings-plan","status":"publish","type":"post","link":"https:\/\/www.happysimpleliving.com\/five-dollar-savings-plan\/","title":{"rendered":"The $5 Bill Savings Plan"},"content":{"rendered":"\n

Have you tried the $5 bill savings plan<\/strong>? It’s a simple concept, and a fun way to save a little extra money.<\/p>\n\n\n\n

The tip works best when paying cash for everyday expenses instead of pulling out a card. (A side benefit is that we’ll generally spend less when we pay cash<\/a> instead of charging things on a credit card.)<\/p>\n\n\n\n

\"A<\/figure>\n\n\n\n

The five dollar bill savings plan is simply the act of removing and saving $5 bills whenever one lands in your wallet. What I’ve discovered is that this practice is a simple and painless way to save.<\/p>\n\n\n\n

I try to pay cash for as many expenses as possible. After I’ve accumulated six or seven five dollar bills, I deposit the cash in my credit union’s high-yield money market account. If I average about $35 a month, in a year I’ll have accumulated $420 plus interest. <\/p>\n\n\n\n

It’s not a huge amount, but we all know that little savings can grow into significant amounts with persistence and consistency<\/a>.<\/p>\n\n\n\n

Spare Coins and $5 Bill Savings Can Add Up<\/h2>\n\n\n\n

As I wrote previously in “7 Free Things You Can Do This Week to Simplify,”<\/a> another painless way to save money is by emptying the coins from my wallet into a container periodically. We always keep our eyes open and scan the ground for loose change, too. <\/p>\n\n\n\n

When the coin jar is full, we deposit the contents in my son’s savings account. This year — after about five years of collecting coins — he was able to buy his first $500 certificate of deposit (CD).  <\/p>\n\n\n\n

We did the same thing with our daughter, and purchased her college computer with the savings we accumulated from loose change.<\/p>\n\n\n\n

You might also enjoy going on a money diet<\/a> for a couple of weeks or a month to make quick progress on your financial goals. <\/p>\n\n\n\n

Do you have any simple ways to save money? Drop a comment below with your strategies!<\/p>\n\n\n\n

Happy saving, and let me know if you try the $5 Bill Savings Plan!<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

… Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"limit_modified_date":"","last_modified_date":"","wprm-recipe-roundup-name":"","wprm-recipe-roundup-description":"","footnotes":""},"categories":[41],"tags":[482,129],"class_list":["post-1457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money","tag-currency","tag-personal-finance","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"yoast_head":"\nThe $5 Bill Savings Plan - Happy Simple Living<\/title>\n<meta name=\"description\" content=\"A painless, easy way to save money, the Five Dollar Bill Savings Plan is a simple method for accumulating cash so you can deposit it in a bank account or invest it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.happysimpleliving.com\/five-dollar-savings-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The $5 Bill Savings Plan - 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