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3 Easy Steps to Start Your $5 Challenge!

Photo by Didier Weemaels on Unsplash

Many of our goals are to save for 2018. We all would like to save for that house we always wanted to buy, that car we always wanted to drive, or simply just adding to our bank account.  This fairly new challenge helps us save with discipline and consistency. This is a savings hack that we are giving you the juice on! Here’s how you can start:

 

Carry cash

Carrying cash may be hard for some because we just love our plastic cards! It is essential to carry cash for this challenge to be effective. Make the effort every week to take funds out of your account to break 20’s, 50’s, and 100’s.

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Photo courtesy of Unsplash

Saving your 5’s

Breaking your bills leads to the next step, saving your fives that you get throughout the week. It can be tempting to spend your five dollar bill on a cup of coffee at Starbucks but trust us, this challenge requires discipline! Saving your fives in a sacred space is key too. Placing your cash in a box where no one will have access except for you will work. After a month or two, we will be disciplined to not spend five dollar bills anymore. This can lead to a healthy habit ladies!

 

Track your progress

Finally, it wouldn’t be a challenge if we didn’t track our progress. Whether you are tracking weekly, bi-weekly, or monthly– everyone’s progress will be different. Our results will be tailored to each individual depending on how much cash we carry and how often we spend. There’s no better feeling than counting your progression.

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Photo courtesy of Unsplash

There you have it, three easy steps to start your 5 dollar challenge. This challenge is a perfect way to renew and grow our financial lives! Investing in ourselves leads to financial freedom that all of us strive for. The new year is the perfect time to commit and track your progress, are you down for the challenge?

 

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