The $5 Plan

I recently read about a couple that saves every $5 bill that comes in to their possession. I think that is a great idea and I am considering doing the same. My only issue is that I feel strapped right now as it is between the $1,210 every 4 weeks that goes into my 401K, the $100 a month that I put in my Roth IRA and the $600 a month I am trying to put in my emergency fund.

You would think that an income of over $100,000 per year would make it easy to save. It is so true...it is not what you make, but what you save. I have an expensive (by my standards) mortgage of $1,843 per month including homeowner dues and taxes and a car payment of $510 per month along with a student loan payment of $140 per month. It all adds up.

Anyway, the $5 idea is something to strive for so I am going to give it a try.