One of the questions I am asked most often is: how many fives do I save a day? Bottom line: It depends. And I don’t know.
Some days I don’t get back any $5s, although rare. Most days I get at least one, often two, and sometimes three, or more.
During the holidays, for example, when I am gift shopping mostly with cash, I save a lot of $5s. (I also save a ton of time by standing in the ‘Cash Only’ line at the stores!)
When I am on vacation, and spending more cash than usual, I tuck away enough $5s to start our next vacation fund.
But on an average day, when I’m commuting and working, I save between one and three $5s a day, including contributions from my husband, who’s been generous in more ways than this through the years.
And then there are the times—it happened last week—when I make a cash purchase of $21.99, pay with a $50 dollar bill and watch, with childish delight, as the cashier counts five $5s, three $1s and one penny. Wowza!
Another question I’m often asked is whether or not I’m absolutely sure about the sum of money I’ve saved using this plan. The answer is no, not totally. Not willing to bet my $5s account on it either.
Here’s the thing. When I first decided to save my fives, I had no idea where it would lead. All I knew at the time was that it was costing me and my husband more than $7000 a month to keep two kids in college and we were big time stressed around money. And for someone like me, who’s always been a saver, saving $5s was all I could manage. But exactly what day, what year did I begin, exactly when I started keeping records of dates, and amounts saved, I’m not sure.
Bottom line: Best as I can estimate, I’ve saved approximately $36,000 in $5 bills in around 12 years, or around $3000 a year. I’ll take that to the bank, thank you.
A final question I’m asked is what will I do with the money I’ve accumulated. I don’t know. For now at least, I don’t need the money and am having too much fun watching the nest egg grow. I also believe all those $5s (deposited either in a bank or a mutual fund), act like a magnet for more abundance, including health, happiness, and wealth.
Others who embrace the $5 saving method save for a goal, be it a vacation, a new car, or an emergency fund. That’s fine, too. The best part about saving five dollar bills is that it can work for anyone, at any age and income level, as a way to build a nest egg.
In my next post, I’m going to talk about the power, the magic even, of the number 5. In the meantime, please leave a comment. How many $5s do you typically save a day? As always, I would LOVE it if you would follow my blog.
Yours in Fives,