Here's One Really Easy Way To Save Thousands Of Dollars A Year
Saving money is never easy, but social media recently revealed a simple and extremely profitable way to bulk up that piggy bank.
Should Reddit user phukenh continue saving, her or she may very well accumulate as much as journalism professor and former reporter for the Boston Globe Marie C. Franklin, who discussed the tremendous success she had with the same trick in a blog post she penned last year.
Franklin's post on financial blog Len Penzo dot Com described how she saved every $5 bill that came her way for 12 years.
She said she and her husband were putting two kids through private colleges when she began the savings method. She wrote,
I found that socking away each and every $5 bill I received as change in a cash transaction was one way I could stay in control of what little extra money I had at the time.
As of August 2015, Franklin apparently saved nearly $36,000 in $5 bills.
According to Franklin, once you commit to the plan and save just one $5 bill, you'll be well on your way to similar earnings.
From the moment I wake in the morning, I'm thinking of ways to get back a $5 bill. That's one reason I do most of my day to day living by spending cash, because let's be honest, you can't get a $5 back if you pay with a debit or credit card.
Franklin then promised you'll never be tempted to spend your collection of $5 bills, partially because you will have developed an "addictive" desire to make that collection grow.
You also won't view the plan like any other contingency strategy, she claimed.
It will instead be a "fun game" that inspires you to build up your savings as fast as possible, purely out of habit.