What’s $5 Worth?

If you’re still on the fence about this whole save your $5s thing, consider this.If you want to Save Money Fast, this simple method will work.

$5s5

What can you really get with a five dollar bill? A gallon and a half of gas? Five items at the dollar store? A half gallon of milk and a small loaf of bread at the convenience store? A croissant and a large coffee at Dunkin Donuts? Two boxes of imported pasta, say DeCecco?

Now look at it a different way. Five dollars saved each and every day of the year would add up to 365 (days a year) times $5 a day, a staggering $1,825. Save two $5s a day and you’re looking at $3,650.

Save five bucks a day until you turn 75 years old, assuming you’re 25 years old today, and that five dollar account, without adding in any compounded interest if you kept the money in a piggy bank, would be worth $91,250. Just in five dollar bills. If you’re married and your spouse practiced the same habit for the same number of years, you would be, at a minimum, $182,500 richer than you would be otherwise.

Even if your twenties are a distant memory and you’re now 50 years old, if you saved five dollars a day for the next 25 years you will have socked away $45,625, without counting interest, or $81, 250 if you and a partner both practice the save your fives method of accumulating wealth.

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And, no excuses if you’re in your 70s. If a 70-year-old started saving one $5 bill a day for the next 10 years, he would have $18, 250, a handsome amount to throw herself an octogenarian birthday party. Just saying.

Still on the fence? Yes or no? Have a great weekend, thanks for stopping by, and please, leave a comment on my blog!

Yours in Fives,
Marie

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4 thoughts on “What’s $5 Worth?

  1. I started saving fives when my sister started this blog….about 9 days ago.
    $125 so far!! It works. Give it a try if you can!! Good luck

      • That’s what it is, Julie. When we save, we are paying ourselves. We pay everyone else—the landlord, the grocer, the hairdresser, the butcher, everyone—-when we put away $ in our nest egg, we are paying ourselves.

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