Financial Fun Challenge: Can You Save $5 a Day?

Do you like a challenge? Can you go without your drive-thru hot bean water? Ever thought about brown bagging your lunch? These shoes were made for walking - and saving gas money. If you dare to save $5 a day ($150/month), we can help. Read on for five simple ideas that could help you keep those extra dollars in your wallet.

1. The Food to Door Combination

Yes, it is a fantastic duo. Food delivery is convenient and seems so worth it at the time, but when you look at the itemized bill, ouch. Delivery fees, membership fees, tax and tip. The numbers add up quickly, and you could easily save $5 by cutting this modern convenience from your routine one time. So, keep takeout deliveries to the minimum and budget in grocery shopping, meal planning, and store-bought treats for when you’re feeling snacky.  

2. Are You Entertained?

Streaming services have taken over our homes so much so it can be difficult to remember which ones you’re subscribed to. These once inexpensive alternatives to cable tv or going to the movies have turned into a considerable expense of their own, especially if you subscribe to several services. Instead of subscribing to three, four or more services a month, try one or two for a few months and then switch. Or check out the bundle offers certain companies have at much lower prices. No matter what you decide, just remember to cancel any unwanted subscriptions. 

3. Look for the Deals

Every day is busy. Every. Day. With the limited amount of time we have to fit in all our living (job, family, house, vehicle, pets, schools, groceries, bills, errands, etc.), to add another thing can feel nearly impossible. However, usually we have our phones close by and we can look for shopping deals online to save ourselves money! Coupons, sales, discount stores, clearance or deal websites, and plain old shopping around can help you retain a chunk of change.

4. No Spend Day

Time to use your budget, and plan a No Spend Day! Now, that doesn’t mean just spend all your money on the other 6 days of the week but actually budget out how not to spend anything for 24 hours. Ideas like make your own coffee, carpool to work, brown bag your lunch or eat leftovers from home can help. Instead of an expensive night on the town, walk or bike your neighborhood, take advantage of free entertainment from the library (books, movies, AND music), or make it a restful evening by relaxing at home or in the backyard.

5. A Coffee a Day …

Isn’t keeping anything away … except that $3 to $8 you’re handing over. I know, I know. The coffee, latte, mochalicious drizzle with cold foam tastes so much better when someone else makes it. I believe you. But is it really worth it? If it is to you, then it is worth it. There are 4 other ideas here, and many more, to help you save $5 a day. If your coffee helps you make it through the day, have at it. If it’s meh and you can do without it, then save yourself some cash and ditch it!

Saving Adds Up!

As you challenge yourself and continue to save each day, those dollars will add up. What could you do with your extra money? Start an emergency account, save for a special purchase, or put it in an interest-earning account? All you need to do is start and let tomorrow be the day you have coffee at home, start cooking in your kitchen, cancel some streaming services, or plan a No Spend Day. 

This information is presented for educational purposes only. It is not intended as, nor should it be construed to be, legal, financial or other professional advice.