If like me, you feel like you’re scraping the bottom of the savings barrel after Christmas, here’s an easy savings tip which can yield you a BIG return this time next year!

The $5 saving challenge anyone can do

The simplest money saving challenge around, simply hang onto every $5 note that comes your way, pop them in a safe place and don’t be tempted to count your cash until the end of the year! Who’s in?

Perfect for people who still use cash (or a good incentive to turn to use cash) for their day to day spending, this is a fun – and relatively pain-free – way to save a pile of cash (literally) for the next 12 months.

$5 saving challenge
$5 note in your coffee change? Score! To the $5 stash, it goes! Source: Canva

Keep your eye on the prize

To help keep you motivated not to spend your stash of $5 notes during the year, keep your eye on the prize.

Think of how you’re going to use your wad of cash to soften the Christmas budget blow, treat yourself to something nice – hello new coffee machine – or (gasp!) even spend it on a luxurious night away from the kids. Print a photo of it and stick it to the fridge or in your wallet so you have a constant reminder and motivator.

Finally, don’t give up. There might be weeks when saving even just one $5 note is hard to do. Each note counts though, so don’t give up. Even if you saved just two $5 notes a week, that’s still $520 dollars in your pocket at the end of the year. SWEET!

$5 saving challenge

So, tell us, who’s in? Let us know if you’re going to give it a go and tell us what you think you’ll be spending it on!

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Author

South Australian mum and self proclaimed foodie, Lexi can most days be found in the kitchen, apron tied firm and armed with a whisk or wooden spoon!

1 Comment

  1. Krystal Garner Reply

    I did that a couple of years ago, saved every “NEW” note. $5, $10, $20, $50 and $100 notes. I ended up saving over $1000 to spend on our holidays. It was pretty cool . Couldn’t really do last year 2020 as not many places were taking “cash” payments. But it would be fun to try again this year!

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