Get Rich By Saving Every $5 Bill

There’s a woman who saves every $5 bill she gets, blogs Get Rich Slowly. She’s been doing so for three years and has saved $12,000.

JD at Get Rich Slowly also shares his wife’s personal money saving trick:

For several years, Kris has been rounding every transaction up to the next dollar in her checkbook. If she spends $49.74 at the grocery store, she enters this in her checkbook as $50. If she spends $33.13 on gas, she enters it as $34. As a result, she saves an average of 50 cents every time she performs a transaction. In 2-1/2 years, Kris saved an extra $500 using this method. That’s enough to treat herself to something nice.

There are many different tricks people use to save money — from the very low-tech “saving change in a jar” to the bit more sophisticated “automatic payroll deduction.” The key seems to be in finding something that works for the specific individual — something he can stick with over the long haul. As long as the saver remains committed to the trick, almost any method seems destined to succeed.

Do you have any unusual ways you trick yourself into saving money?

Turning $5 into Thousands [Get Rich Slowly]


(Photo: bethography)