Everyone I know who saves fives does it differently. One friend has great wads of them in a Chanel makeup pouch in her linen closet; another keeps them in the covered tureen of her mother’s antique china; while yet another saver systematically puts one five on page five of every book in her library. I think that’s a bit compulsive (and odd, to tell the truth), but whatever helps a person save works for me.
What’s most important is to have ease of access for adding to your growing stash and a hiding place secure enough to thwart sticky-fingered family members, or thieves. I keep them in a safe hiding place at home and each time my stash reaches $100, I deposit them down the street in a savings bank. Once this reaches $1000, I buy a CD with it to earn more interest and transfer the funds to an investment account.
I hear the naysayers criticizing me for not investing the funds for a higher return. Fact is, I have other brokerage accounts and retirement funds doing that for me, but the $5s account is different, and separate.
Here are more ideas of where to stash your cash:
• In a compartment in your wallet
• In an envelope in your pajama drawer (the underwear drawer is too obvious)
• In an empty shoebox in the back of your closet
• Under a mattress
• Slipped in between the pages of the family Bible or “War and Peace”
• In the sugar jar
• In a hollowed-out old copy of your college econ textbook
• In a home safe
• In the pocket of an old coat
• Stuffed into your lost socks collection in the laundry room
• In a savings bank (my favorite for reasons already mentioned)
A caveat: None of these ideas (except the bank) guarantees the safety of your stash, so you want to be careful not to chat about your hiding place in public… or in front of your teenagers. And as tempting as it is to keep your large stack of fives at home to play with occasionally, it’s safer and more prudent to move them to the bank on a regular basis.
Readers, tell us in a comment, where do you keep your $5s as you’re building a nest egg? Can’t wait to hear all your hiding places, and thanks for stopping by.
Yours in Fives,