The $5 Challenge Grant

It’s only fitting that my job as a college professor and my habit of saving $5 bills should merge. My two daughters were both in college 13 years ago when I started my practice of saving $5s. It was, simply, the only way I could manage to save even a small amount of money while shouldering, along with my husband, the responsibility of financing their college educations.

Segue to 2016. Both daughters are college grads and well on their way to mid-level career success and I’m teaching the next generation of college students struggling to pay for school. Many of my best and brightest students at Lasell College in Newton, MA are benefiting from full or partial scholarships, which is one reason I donate regularly to the college’s annual fundraising efforts.

This year, I decided to do something different. Instead of just writing out a donation check, I issued a challenge grant to recent graduates of Lasell. I offered to match every donation of $5 or more (up to $3000) And in less than one week, more than four dozen first-time givers have stepped forward with another 100 alum promising to do the same before the challenge expires on New Years Eve. The way it looks now, I’ll be reaching my giving limit because of the generosity of others.

I thought the readers of my blog would enjoy seeing the $5 savings habit in its latest incarnation. The following video leads the way.

Yours in Five,