Saturday, March 3, 2012

Unique way to save

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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