The Easiest Budgeting Plan Ever

Stash more of your cashWhen it comes to saving money, the tried and true methods of budgeting often prove to be most effective. Whether it be depositing loose change into a money jar or committing to the "envelope system" every month, I think it is safe to say we've all learned a thing or two about penny-pinching from the generations that came before us.

Another old-fashioned trick that's regaining popularity? The "Five Dollar Savings Plan." The plan itself couldn't be simpler - every $5 bill that comes your way goes into a special shoebox or coffee can, preferably stored in a place that won't tempt you to dip in when you need a little cash. After an allotted amount of time, count your $5 collection and prepare to be shocked by how much the stash adds up to!

Related: How to build a budget worksheet

People young and old swear by this plan for several reasons. A big one? The unexpected pay out. While this plan follows the same basic structure as saving coins in jar, the $5 bills add up with satisfying speed. "Five Dollar Savings Plan" followers also report paying closer attention to the money in their wallet. Instead of plunking down cash like it's already spent, this plan calls for taking constant inventory-you're always on the watch for those fives!