Woman Saves $12,000 by Collecting Fives

A sum like $12,000 doesn’t usually make the news, but one Boston Globe reporter has managed to trick herself into saving that amount by adopting a creative way to save. With two daughters in college and a mortgage to pay, Marie Franklin and her husband didn’t have any extra money to put into savings. While perusing online, she came across a saving trick that suggested saving every five she acquired and depositing them into a separate savings account.

Once she’s collected ten fives in her wallet, Marie deposits the $50 into her designated savings account, and once that account has $2,000 she purchases a CD to earn higher interest. After three years of saving all of her fives, she has accumulated $12,000 in savings. Marie acknowledges that this method of saving requires discipline, but her unconventional habit has obviously worked for her.

[via SavvySugar]

Link this article to your favorite Social Network! Thanks!
  • blogmarks
  • del.icio.us
  • Fark
  • NewsVine
  • Reddit
  • Simpy

Post to Twitter Tweet This Post Post to Digg Digg This Post Post to StumbleUpon Stumble This Post

Tags: , , , ,

8 Responses to “Woman Saves $12,000 by Collecting Fives”

  1. July 23, 2023 at 7:01 pm #

    I love this idea. I have done this with change, but it takes a real trooper to do this with 5 dollar bills.

    Eric B’s last blog post..First National Bank Omaha Visa Gift Card

  2. Stu | Improved Lives
    July 23, 2023 at 10:49 pm #

    That’s a great tip for saving money. A lot of people recommend doing this with pocket change too but I think the 5s would add up a lot faster.

    Stu | Improved Lives’s last blog post..Participate in an Exciting Online Positive Psychology Study

  3. July 24, 2023 at 8:11 am #

    What a great idea - and so simple! I’ve got to try this.

    Laurie | Express Yourself to Success’s last blog post..The Unsung Social Skill

  4. Travis Wright
    July 25, 2023 at 12:38 am #

    Yeah, I have a large plastic coke bottle that I use to put all my Ones, Fives and spare change into.

    Also, whenever I cash a check, I get 2 $25 1-dollar coin rolls and throw in there, as well.

    It really adds up, plus it teaches my kids the art of saving money.

  5. Ryana Carvalho
    July 26, 2023 at 12:27 pm #

    This technique is awesome. I’m very simple and straight forward. Thanks for posting it. I’ll definitely put it down on my to do list.

  6. July 29, 2023 at 12:31 pm #

    Excellent technique. Very simple and straightforward. An interesting example of the “pay yourself first” principle of wealth building.

    Anand Dhillon’s last blog post..Carnival of Self-Mastery - July 29, 2023

  7. July 29, 2023 at 3:30 pm #

    I save all of my change and periodically go to the bank with it for my children’s saving accounts. Hopefully they will go to college on the money saved!

    Peter Answers’s last blog post..Numerology - Your Future by Numbers


  1. imgriff.com » Blog Archiv » Der Link am Morgen: Kleingeld macht auch Mist - July 25, 2023

    [...] With a bit of creative savings, $5 can get you at least $12,000 [boston.com, gefunden bei cultivategreatness.com] Hier erscheint jeden Morgen von Montag bis Freitag ein ausgewählter Link zu einem gelungenen [...]

Leave a Reply

CommentLuv Enabled

Twitter links powered by Tweet This v1.6.1, a WordPress plugin for Twitter.