Have trouble saving money? Here’s a deceptively simple plan to boost your savings. Shift as much of your everyday spending to cash as possible. Choose one denomination that you receive back in change and never spend it. Deposit the accumulated bills in the bank instead.

One proponent of this plan started a naturally simple website for it, Dollar Bill Savings Plan. They propose saving $1 bills and all of your change in a secure spot, then periodically depositing it all.

This seems so simple that you’re probably scoffing at it right now. “Anyone can do that,” you say. Yes, but does everyone? Do you, right now? How is your saving rate, anyway?

The Dollar Bill Savings Method page has a pickle jar full of testimonials. A few examples:

I do this and usually save an extra $150-$250 per month. I then take the money in each month to the bank and place it in a high interest money market account that I found at a local bank that pays over 4.01% APY.

I started using the DBSP at the end of January 2010. I was unemployed and barely getting by, and I had just spent the last of my savings. I knew I had to get something set aside, otherwise the next unexpected expense would sink me. I was fortunate to get a job about a month later, but I continued the plan. At the end of September 2010 I had over $800 in dollar bills alone!

Some people have found success with $1 bills, others with $10 bills. Dumping your change is also a good idea, especially if you use a bank that has low or no-cost change-counting machines for customer use.

The Dollar Bill Savings Plan [Official Site]

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