7/16/18

Reader Success Story: How Becca saved $1,000 In $5 Bills!

Almost exactly a year ago, Christian published Unconventional Ways to Save Money to help combat the mental toll that working to save serious cash can take. One of Christian's tips was to pick a bill to save every time you get your hands on one. This tip along with a boatload of willpower and determination ignited Becca Mutchler onto a journey toward financial success.



Becca told me shortly after she read the post that she would begin saving all of her $5 bills. This may be a modest undertaking for some people who don't often handle cash, but I knew immediately this would make a serious impact on Becca's life if she were able to stick to it.

This Took Serious Dedication!

Depending on your line of work, you may not come into contact with a whole lot of cash on a daily basis. But Becca is a cosmetologist (an outstanding one at that -- the only time my hair looks bad is because I'm too lazy to call regularly), so a solid proportion of her income comes in the form of cash tips.

Becca started grinding away last July which wasn't exactly easy at first. Becca didn't have a full schedule when she started working at Kennedy Layne Salon (the subject of our first Entrepreneurship Conversation), so saving every $5 she received amounted to quite a large percentage of her income.

"My initial goal was just to see if I could make it a year with saving all of my five dollar bills. I thought if people on Twitter and Instagram could do it, why couldn't I? At the end though my goal was just $1,000. When I averaged out my first few months and did the math to see about how much I would make in one year, I came short of $1,000. I then decided that I wanted to try to reach $1,000 in one year."

Becca was tempted to quite several times, but she kept herself focused by introducing accountability into her system through conversations with friends and family. She also surrounded herself with positive influence by keeping up to date on the Smart Money Seed content!

(Becca has no reason to kiss ass to 3 washed up money nerds with that comment, so I actually believe we were somewhat of an influence for her.)

As Becca started building her clientele and income, saving the $5s wasn't such a big deal. Becca mentioned, "It got easier once I started gaining more clients at the salon. It sounds crazy, but then I started receiving more cash tips and more fives, but also other amounts, so throwing a five dollar bill to the side didn't seem that bad."

Becca even saved her $5 bills as she received them as change from her purchases with just one slight exception. "It got hard when I had a lot of cash though. For example, I put money aside for Cole and I's vacation. When we left I had a set amount of cash to use for it, but once I started using it, it seemed like half of what I spent I was getting back in fives. SO I actually stopped saving them on vacation because I thought I would be broke in two days if I continued to put them away."


That is an outstanding example of being reasonable and adaptable with your financial goals. Personal finance isn't necessary always about setting rigid rules about your spending. Sometimes it's okay to lighten up for a minute as long as you're able to keep your eye on the ultimate prize -- which is exactly what Becca did!

Are You Considering A Major Savings Goal? Follow In Becca's Footsteps!

If you're thinking about attempting a savings goal, Becca has some advice for you.

"Just don't give up. I remember when I was first saving, and I only had $30 in fives, and how I wanted to spend it so badly because it was so easy to spend. Once I got past $100 it was easier and became kind of a game."

"I would also say let other people know you're doing it. I loved telling people about it and sharing my wild journey with them. It was fun because I would have some family members that would pay for something with a five so they knew it would be saved. I also had some guests at the salon tip me with a five so they could kind of contribute to my goal. It also kept me accountable, and it was fun sharing my progress."

Becca doesn't exactly have an end goal in mind for her money, but she's continuing to save her fives sporadically. And she's grateful for the lessons she's learned along the way.

"I am not totally sure what I am going to do with the money I saved. Doing this definitely helped me realize it's easy to save, and you don't have to put aside a lot at one time.

If you're interested in following along for updates on her savings journey, cosmetology, or life in general, check out her Instagram!

No comments:

Post a Comment