It's amazing how saving consistently, a little bit each day, can really add up.
If you started with pennies one month and worked your way up to dollars in month 5, by saving the number of coins/dollars as the day of the month, you will save over $600. Start by saving 1 penny on day 1, then 2 pennies on day 2 and so on.
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Month 1 & 2: Pennies & Nickels
Total Saved from Month 1 & 2 = $27.90
Month 3 & 4: Dimes & Quarters
Total saved after 4 months = $190.65
Month 5: Dollars
Total saved after month 5 = $655.65
Start with pennies and up the ante each month, in 5 months you will have saved over $650!
Month 1 you will save: $4.65
In Month 2 you will save: $23.25
Month 3 you will save: $46.50
In Month 4 you will save: $116.25
Month 5 you will have saved: $465.00
Total after 5 months: $655.65
Don't Want to Build Up Savings Over Time?
If gradually building your savings isn't your thing, the average savings over the course of the 5 months would amount to saving just $4.37 a day. So pack your lunch every day for 5 months and set aside the savings and you will easily save $655.65.
Still having trouble building savings? Give Chime or Qapital a try.
What other savings tricks have you used? Let me know in the comments!