An Unusual Money Move: Don’t Spend the Fives

Here’s a savings trick that works if you use cash frequently.
Every time you get a $5 bill, tuck it into a spot in your wallet and don’t spend it.
That’s right, every $5 bill you come across — just stash it away.
Every so often, deposit them into your savings account.

ID 905513/Pixabay

This works because $5 bills are less common than other denominations.
As of Dec. 31, 2018, there were 3.1 billion $5 bills in circulation, according to the Federal Reserve.
For comparison, there were 9.4 billion $20 bills and 12.4 billion $1 bills in circulation at that time.
So tucking away your fives can be pretty painless.

You may be doing all the right things when it comes to your savings — putting money aside from every paycheck, contributing to your employer’s retirement plan and diversifying your investments. But if you are concerned that these things might not be enough or your goals are bigger than that, here are some money moves you may not have thought of that could turbocharge your finances and set you up with financial security for life.

There are two ways to increase your nest egg: Save more, and make those savings work harder for you.
These ideas will help you do both, and get you thinking about how to save and then how to invest what you’ve saved.

Try these tips to ensure your financial security:

16 Unusual Money Moves That Could Set You Up for Life

You may be doing all the right things when it comes to your savings - putting money aside from every paycheck, contributing to your employer's retirement plan and diversifying your investments.

Article Attribution: Karen Doyle via GOBankingRates