Today I was on my obsession.....Pinterest and saw this idea for saving money. The basic principle is every time you have a $5 bill you put it away. What a great idea. I have been trying to use cash more and notice the more I use cash the less I spend. When I use my debit card I don't pay attention to how much I am spending until after and I a wondering where all the money went. Back to this idea. The post I read was using a mason jar. My only problem is "seeing" the money and the urge to use it. If I was to do this then I would need to find a container that is less tempting. I was in the kitchen thinking of what else I could use while I was cleaning when I remembered there is coffee can I could use. It would have been thrown out in a couple of days. This will make a great container. I thought about how long it would take to save enough money and if I only put $5 a week in the can then it would take a LONG time to save enough for anything. In one year there would only be $260 Now if I start using cash more and put EVERY $5 I get in the can it may not take as long. When I am out running errands I usually stop somewhere quick for lunch even if I am on the way home. Instead of buying lunch when I am on the way home I could put that money into the can too. Of course I only run errands that include eating out once a week or once every 2 weeks.
Here is the post that I first saw this idea - $5 Savings Plan In the comments people have said they do the same thing with $1s and someone said they use a debit card but when they go grocery shopping they get $20 back and put that in the jar.
Now time to redecorate the can and decide how I want to save money....should I save 1s, 5s or 10s.....what do I get most of the time when using cash and what will be easier.
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