Remember Andy Warhol’s iconic quote: “In the future, everyone will be famous for 15 minutes?”
I had my four minutes and 29 seconds of fame last week when I appeared as a guest on the Today Show in Australia. The topic, you guessed it, my habit of saving five dollar bills. Here’s a link to the interview, which was taped in Boston and aired live in Australia.
What surprised me most about the experience is that even though I was nervous all day going into the local TV studio to tape, once the interview began and I started talking about my $5 savings hack (as the Aussies call it), I was completely relaxed. It was no different than telling a colleague, or the cashier in the supermarket, or students in my classroom, about the habit. Saving $5 bills (it’s been 13 years now and I’ve amassed close to $40,000), is second nature to me.
So, what were the highlights gleaned from the on camera interview?
How did I start this brilliant idea?
First, it’s not brilliant at all, in fact it’s really a very simple way to save money, regardless of your age or financial circumstances. I started the practice at a time in my life when our finances were strained. With two daughters in private colleges at the same time, I worried I was unable to save any money….until a toll collector handed me back three fives as change from the $20 I used to pay my toll. I started socking away $5s that day, which is not to say it was easy to keep the girls in college, but saving every five I got back as change sure was an easy way to save money, however small the amount.
Have I ever been tempted to sneak money from my stash of $5s?
The answer is a simple no. From the moment I began, it was fun, it was a game, and I’ve never spent a five since. I think it’s my steadfast commitment to the practice that has guided my success.
Does the math add up?
The TV hosts asked me to do some math. How much can a person save using this method? Without getting too wrapped up in numbers, I offered this. Save one $5 bill a day and you’ll have $1,825 at the end of the year. Save two $5s a day and it turns into $3,650 by year’s end. Even better. If a person saves one $5 bill a day from the time they are 25 years of age until they reach 75, they will have saved $91,250! Just in five dollar bills.
What am I going to do with all this money?
I’m asked this question all the time, and the simple answer is that I don’t know. The daughters who were in college when I started saving my fives are now married and even while we were planning and paying for their weddings, we didn’t use any of the money in the $5s account. It’s become an abundance magnet for me in other areas of my life, such as health, relationships, work. The one time I might spend the money is when my husband and I retire. We love to travel and I have a fantasy that when we do, we’ll take my $5s account and travel around the world, and not come home until we’ve run out of money. Then, (or maybe before!), I’ll write a book and its title will be “Around the World on $5 a Day.”
In conclusion, I’m still waiting for 11 minutes and 71 seconds more of fame. Because that first four minutes and 29 seconds sure was fun.
Yours in Fives,
Marie
Save Money Fast With FIves 
I have been doing this the last 2 years, but different than you, as I am 70, I have been spending
on trips and fine wine and using for things I normally would not spend. I save about $200 per month and now have over $1500 and ready for a 1st Quarter Healdsburg Wine Trip. I also teach college part-time and have explained this to the students. My compliments to you
Hi Richard, I think the way you spend your $5s is wonderful. Trips and fine wine are worthy of you at this stage. Thanks for reading the blog and sharing your thoughts today.
What a stunning job you did at your interview, Marie, of recapping your “saving money fast with fives” plan! And I did not know that you have NEVER in thirteen years, spent from your own stash of fives, except to give one to an occasional student of yours, encouraging another potential $5 saver, and to send them on their way! By the way, I love your idea for the eventual employment of your savings! Afterwards, when you write about your travels in “Around the World on Five Dollars a Day”, something tells me that you will have no trouble at all cashing in, if you pardon the pun, on another 10 minutes or more of well-deserved fame! Kudos!
Great to hear from you, Trish, and thank you!