Friday, June 29, 2012

Progress Report on #48

I haven't talked about it in a while, so those of you who haven't been following me long may not know that I am in the midst of a 1001 in 101 Challenge (check out my list by clicking the button on the right-hand side of this blog). Basically, it's 1001 tasks to complete in 101 days! And #48 is "Save every $5 bill I come across and spend it on something special!" I got the idea from a link through Pinterest surprise surprise and thought it sounded pretty simple! So I added to the list and I am LOVING it!

hehe! I hope you like my Tennessee Plate =)

I started the $5 Savings Plan on the 1st of April, and three months later, I have only spent one $5 bill (because I had no cash in a place that didn't take cards *cough* bar cover *cough*) and have so far saved $115! Can you believe that?!

In the past, I've saved my $5 for easy go-to bar money. not that I'm constantly at the bars, but this is what legal-drinking-age college students do on the weekends! This may seem pretty reasonable for a college student/recent graduate, however, I ended up spending way more money than necessary this way! I liked the ease of $5 bills because it "made tipping a breeze." I'd get a drink that was a few bucks, throw a $5 bill on the bar, and head out to meet up with my group again. Are you catching on yet? Well for those of you who are not UTK college bar natives, I'll give you a simple math problem....

1 $3 Cocktail
Paid for with a $5 bill
Equals a roughly 68% tip

Now, I'm a pretty generous tipper, something my Grandpa Jerry taught me a long time ago, but 68% tip!?! That's just plain ridiculous. NOW, I save all of my $5 bills, and when I go out for drinks with friends, I start a tab, so that even if I only have one $3 cocktail, I am sure to only tip my regular 15-20%. Saving me at least 48% each time I grab drinks with friends! 

SO! If you're looking for an easy way to save, try the $5 Savings Plan! You'll find yourself hoping for $5 bills when you get change for a 20 because you'll
want to save money! I love it, and I'll keep you posted with the progress as the 1001 days continue on...911 days left to go, and I can't wait to see what they have in store =) 

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