Everyone knows the joy of finding a random five-dollar bill in an old coat pocket. It feels like free money coming your way thanks to a little luck. Now imagine if you kept an eye out for five-dollar bills regularly, sort of like a game. According to TikTok, this is one of the easiest ways to save money.
Now, while you may think it's difficult to just stumble on cash in 2024, the age of apple pay, you may be wrong. You might receive $5 in change after buying coffee, as part of a tip at work, or in a birthday card from your grandma. Some fives might be hanging out in your wallet, even if you usually pay for things with a debit card, or a friend might toss you a few to pay you back for dinner.
Soon enough, before you know it, you'll be racking in those $5 bills left and right! The beauty of the $5 Challenge is that you don’t have to go out of your way to participate. The only rule is to collect five-dollar bills. While you can freely spend your ones, 10s, and 20s, all of your fives need to stay stashed.
This challenge is beneficial while attempting to pay off credit card or loan debt. It's also a simple method to increase the amount of money in your savings account, which you can then utilize to make larger purchases. Plus, it unintentionally teaches you to strive for your financial objectives.