$5 Savings Plan and Contest

$5 savings plan

$5 Savings Plan

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The Traditional $5 Savings Plan focuses on saving $5 a day by taking a $5 bill every day from your wallet and putting it aside for savings. Some even put aside EVERY $5 bill that comes into their possession. This may work for some people but most of the people I talk to find that this doesn’t work for them. For instance if you don’t use cash very often you are not going to accrue much with this $5 savings plan. Other people don’t have the $5 to save to start with.

So we here at Madame Deals are issuing a challenge to our readers this year to come up with creative way to save $5 a day. We are urging you to join this challenge and together we will all be $1,825 richer by the end of the year. That’s right by simply saving $5 a day you will end up with $1,825 in savings.

The important thing to remember is to put aside and “SAVE” the $5 you saved every day.

The best way to guarantee success is to work together as a group. As a group we will share different ideas and way to save $5 a day. Soon we will have effectively created a $5 Savings Plan that has options for everyone.

During January, we will pick 1 comment and the person who submitted it will win a $5 Amazon Gift Card.

**Helpful Tip: Bookmark this page in your browser so you can find it with one click**

You will be able to see at winners on the $5 Savings Plan Winner’s List

So put on your “savings”hats and leave a comment below letting us know how you save or saved $5 a day.

If you are struggling to save money then check out these ways to make money!

Go see if your responses made the list and find out ways to save $5 at the  $5 Savings Plan Ideas List

Check out the Winners at $5 Savings Plan Daily Winners.

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Comments

  1. Anna Rhea says

    I started last night buy snagging the Angel Soft deal on Amazon (free trial membership to Prime when I bought a Kindle Fire!). I agree with Judy on the sodas. 2 liters are cheaper by serving than the daily deals at McDonalds. Pot trained the baby (even through the night). But my real problem is grocery shopping. Too many trips in one week which wastes gas, too. I am going to harvest the roosters I have, buy some laying hens for eggs (we love in the country), and I start planning weekly meals as of today. Crock pot and freezer meals saves more than $5/day, it saves invaluable time!

  2. says

    We never spend our change and put it all in a jar at the end of the night. We usually end up getting a couple of dollars a day from it. It comes in handy when we’re absolutely broke and need gas in the car, or whatever. We also rarely ever go out at all. We also do surveys online and all of that goes into the paypal account. All our cash is being saved for fertility treatments so we’ve been doing this for a while now.
    Julie recently posted..Win A $200 Gift Card!My Profile

  3. Daniel Wright says

    We quit going to subway and other places for dinner. A $5.00 foot long sounds good, but you can make it for a fraction of that at home by buying the bread, meat, cheese, etc. by the pound at Walmart or your local grocery store. And truthfully, I think they taste fresher when made at home.

  4. sally guenterberg says

    I gave up Diet Coke and started drinking Starbucks Refreshers instead. At as much as $2.50 at some places and drinking 2 a day, the cost is really adding up. They are not sugar-free and so to save the 120 calories and $5.00 I am giving them up and putting the $5.00 away. Thanks for the incentive.

  5. says

    umm i think i save a little when i do online sites to earn amazon gift cards to buy personnel items like toilet paper on sale, and other items. All the sites are free to join and just take a few minutes a day to earn points
    chelle glares geter recently posted..JOKEROOMy Profile

  6. Lisa Kassabaum says

    I have never done this.. I plan on starting tomorrow. I’m going to do more on Swagbucks and a few other places for Amazon cards. I’m also going to buy gift cards from Amazon. This way they can set in my account. I do most of all my shopping on Amazon any ways.

    Thanks so much for this idea!!

  7. lisa says

    I saved more than $5 by making a delicious ravioli dinner at home for my family instead of visiting the popular Italian restaurant down the road.

  8. Carol says

    Decided last night to create “tickets” with all our favorite meals on them. At the begining of the month we will “draw names” and create our monthly menu. Friday will remain pizza night. But this way I can plan/limit my grocery trips, avoiding the impulse buys. I’m also going to continue (something I started last year) to make enough dinner to cover my lunch at work the next day.

  9. Sherri Lewis says

    I cut off lights when I leave the room, only run the dishwasher at night when the rate is cheaper, use CFL bulbs,wash clothes in cold water, and have my computer set to power down after 10 minutes of inactivity.

  10. Megan Parsons says

    I save is by keeping all appliances not in use unplugged. Yeah it gets annoying once in awhile to have to plug them in before you use them, but it saves a lot of money!

  11. Diane Faria says

    Today, I got a great deal on soda and saved $20. I’m also putting my 1′s and 5′s aside in an envelope as I get them.

  12. cindy johnson says

    I save at least $5 in coupons every time I go to the store. I also do more online shopping through ebates to earn cash back on items I was already going to purchase (then I ship to store for free). I save by always being on the lookout for coupons, especially the gas ones that I can use at Super America much more than $5 a month. I always check for a coupon for places I am going, such as the movies or out to eat. The savings does add up to alot at the end of the year.

  13. Rachel V says

    I chose to feed the kids what we had in the house instead of going through a fast food place (which I really wanted to cause I was feeling lazy).
    I love reading how everyone is saving!

  14. Shannon K says

    I save $5 a day by not having cable or dish tv. I didn’t think I would survive, but after a year and a half I don’t even miss it!

  15. Sharon Schoepe says

    We don’t rent movies. Instead we check them out from the library. That saves us at least $10 a week.

  16. Melissa Shaw says

    I have started taking my lunch to work everyday, that alone is saving me over $5.00 a day. Actually has made me feel better through out the day as well not eating a heavy lunch = $5 saved & more energy!

  17. sally guenterberg says

    Ok, so I didn’t buy the starbucks today like I said I would not but had to get the dog’s nails trimmed which cost $12. But I guess I would have had to do that anyhow so I guess I still saved the $5.

  18. Amanda Alvarado says

    My dh and I (and dd) all take our lunches to work (school). Just for dd alone, we save $3.25/day…she’s in PK4! I can pack her healthier food than what she will get from the cafeteria!

  19. says

    I cut coupons, which save me every time I go to the store. I re-use my k-cup to get 2 cups of coffee instead of one. I cut my paper towels in half. And I pick up pennies off the street.
    When I go to the store and save money with coupons, I will put that money aside and it should equal the $5 daily.

    RonaleeDuncan{at}aol{dot}Com

  20. Lisa Elrod Jones says

    I use promo/coupon codes for everything I shop online for! Papa johns/Aeropostale/American Eagle.. you name it! It’s FREE money waiting for you and all you have to do is google “promo code for xxxxxxxx” :)

  21. jenn says

    My husband &I both bring our lunch to work, we try to eat at home as much as possible & I cut coupons & hunt for sales on things we need & grocerys

  22. says

    I try to do all of the errands for the week in one day, saving gas- rather than continuously running back to the grocery store every day, plan out meals for the week, and find coupons to match the meals. My husband is an avid soda drinker, so I stock up on the cases, especially the ones on sale, to save money each day from him going to gas stations and spending outrageous prices on a simple can of soda- that alone saves me $5 a day! :)

  23. Keely Hostetter says

    In the summer we live out of our garden to save money and eat healthy. We also plant enough to can or freeze so we have fruits and veggies for winter time when the prices for them are fairly high. I think this saves us more than $5 dollars.

  24. says

    We’ve been in need of some storage and organizational containers/bins/etc. So, I’ve been saving our jars and plastic containers. I have all sorts of sizes and shapes of both plastic and glass, with and without lids. These are now being transformed into craft containers, pen/pencil holders, chore jar rock keepers (we use a reward system and keep the “earned” and “earnable” rocks in separate jars) These are also going into the bathrooms for tooth paste, face clothes and hair ties. And, last but not least, our 2013 Memory Jar!

    These have saved well over $5, as we ate the food in them and are decorating with scraps from craft projects. The glue I get a 3 pack for $1 and tissue is a $1 a pack as well :)
    Shan recently posted..Pay it Forward 2013My Profile

  25. says

    I live in a small town where gas is at $3.39/gal, but everything is within walking distance. NO need to drive back and forth, so I get out and enjoy the crisp winter air and get a free workout! walking to where I need to go instead of driving back and forth saves well over $5/day!

  26. Shannon M says

    My husband and I will share a meal at a restaurant, or we’ll at least share the drink…and most of the time, if we are not sharing a meal, it’s because I have found a “buy one, get one free” coupon or I’m earning points toward some other benefit…

  27. Marie Weedo says

    I saved $5 by buying bagels and cream cheese at the store for the cost of him eating at the bagel place one day he can eat at home for over a week. Love the B1G1 deals.

  28. Judy says

    Make your own fabric softener.Using hair conditioner .6cups water 16ounces hair conditioner 3cups white vinegar.Mix all together .Can add retention oil if want to.

  29. stephaniet says

    I have stopped drinking soda and any other juices because of the sugar content. I\’ve honestly just been drinking lemon water and thats it. I feel a lot better plus it saves me a bunch of bucks on that sugary soda from not buying it. :)

  30. Jenn says

    I order a lot from amazon, so it was cost efficient to sign up for Amazon Prime with free shipping and a lot of free movies for the kids

  31. says

    I think the best way to save $5 a day this year is to change all my light bulbs to energy efficient ones, and only turn them on when necessary. Your probablly thinking, well i cant do that because I have kids. Yeah I do too lol, but since the electric went out one day and didn’t come back on for about 2 hours, I was telling them the whole time it was dark that they used up all the electricty, so they are very conservitive too :)

    [email protected]

  32. Lisa Kassabaum says

    I saved my 5.00 by buying everything I need from our local Dollar Store. Using their Five dollar discount.

  33. Sherry Spruill Young says

    We’re saving 5 dollars a day (and much more) by me grocery shopping once a week and having the dh take the daughter to school and keep the car. I will keep the car only if we have a doctors or other appointment. I homeschool the youngest anyway, so it just makes sense for me not to have to go to town twice a day when I don’t need anything.

  34. Sheila Leitsch says

    I save money by grocery shopping when my daughter is at school. Today we packed our lunch to eat at the park.

  35. says

    save by buying items online from walmart.com and amazon.com when on sale…. i have been saving by purchasing cereal on sale on amazon. 3 boxes for 5.84 when at walmart 2 boxes of my fav cereal is 2.50 per box
    chelle glares geter recently posted..JOKEROOMy Profile

  36. jacci says

    I will walk to pick up my daughter from school instead of driving may not be $5 a day, but $5 for the week and will be a good start might ever be able to walk to a few stores if I don’t have too much to get I will save on gas any get some exercise

  37. says

    We bought an electric razor and a good pair of scissors. I give haircuts to my husband and two older boys. Getting ready to give my baby boy his first haircut soon. I even trim my own hair – kept long most of the time, but I do my short hairstyles most of the time. Saves so much money!

  38. Susan Wilder says

    I SAVE QUITE A BIT BY SHOPPING AT BJ’S EACH MONTH…..AS A MEMBER, I SPLIT MEMBERSHIP COST W/SISTER & WE EACH GET A MEMBERSHIP CARD FOR THE YEAR 1/2 PRICE…..SAVINGS $25.00 PER ONE YR MEMBERSHIP.

    BUT THE REAL SAVINGS COMES, WHEN YOU GET THEIR RATHER HIGH SAVINGS COUPONS, & I STACK THEM W/REGULAR MANUFACTURER COUPONS AND I’VE GOTTEN ALOT OF EXCELLENT DEALS…..EXAMPLE BJ’S COUPON $4 OFF 40 LB BAG OF BRAND NAME CAT LITTER & A $2 MFR. COUPON OFF SAME PRODUCT = ENDED UP COSTING LIKE LESS THEN $4.00 (TAX INCL.) . IT REALLY WENT QUITE A LONG WAY AND LASTED I KNOW 5-6 MONTHS.

    JUST ONE EXAMPLE. BUT I SAVE AND DON’T HAVE TO SHOP AS OFTEN = NO SHOPPING = NO SPENDING EXTRA MONEY.

  39. donna quarles says

    instead of buying my coffee every morning I just bought flavored creamer & drink the free stuff at work.

  40. Cheryl says

    I got a latte machine for Christmas!! I make my own lattes now instead of going to Starbucks!! What a money-saver!

  41. Amee Burr says

    I save $5 and much more by only shopping sales and I love to shop Zulily and different online stores like that where you can get name brand items at a huge discount. I also cut coupons and we have a double coupon day at our local grocery store, Mondays, and I do all my shopping on that day!!!!

  42. Ellen Levickis says

    I stopped myself from walking out the door and go to Subway for lunch. I ate some leftovers instead.

  43. says

    When couponing- be sure to match deals with coupons and any rewards a store offers, if possible. This will ensure maximum savings! I also use coupons on clearance as often as possible and make sure to take advantage of Walmart’s price matching- especially with Dollar Tree to get as much as I can for free!
    Shan recently posted..$1 off Soft Scrub (FREE!!!!)My Profile

  44. rachel says

    Make a point to put all rebates in savings…every rebate check goes in the bank not cashed…a$20 dollar one can be counted as 4 days so you don’t have to do a rebate everyday just try weekly. One way to keep up with saving each day is to mark your calendar (this also helps if you have a rebate like the example given that counts for 4 days!)

  45. Calshondra Williams says

    I prepare my breakfast and lunch everyday and use coupons for grocery shopping. I save alot of money.

  46. Rebecca G. says

    I decided to go home and eat leftovers instead of going out to fast food. Saved at least $5 and some calories :)

  47. sally guenterberg says

    Today I am going to save $5 by not driving 10+ miles to the grocery store for double coupons. You can only use 5 and since we don’t really need groceries it would not be saving me anything. Honestly, I would be going to get out of the house for something to do. I will go shovel the patio instead.

  48. Katie Santos says

    I save $5 a day by making and eating lunch at home with the kiddos. It’s so easy to go through the drive-thru but it’s not good for our health or our wallet. I will save the fastfood for maybe once a month as a special treat but I can easily make mac and cheese or pb&j and take it to the park for a picnic!

  49. Erin B says

    The main shopping in my area is about 15 miles away from where I live. My girlfriends and I do our best to carpool or at least ask each other if anyone needs anything when we are “running to town.” We save at least $5/day in fuel costs.

  50. rachel says

    When I go shopping (like today) I check 1- do I need everything on the list…not just is it on sale! (Sale signs attract atttention and we are often tempted to buy because of a good deal – but if we don’t need it we aren’t saving anything, just spending more!) And 2 check the clearance for the things I do need.

  51. says

    There is no such thing as wasting food in this house anymore. I used to go and buy 5 gallons of milk at a time and freeze them, but by the end of the week I was usually down to 1 or 2 thanks to cooking, cereal , and glasses upon glasses of milk for my 4 kids. I revamped our ways around here and now all milk must be drunk from the cereal bowls and water is our primary beverage with chocolate milk or juice for special behaviors. I still buy 5 gallons at a time but they last almost 3 weeks now instead of 5-6 days!
    maria williams recently posted..My PrayerMy Profile

  52. Bonnie says

    My fiance makes our laundry soap instead of buying it. If he were here with me I’d share the “recipe” (if he’d even give it to me!) but he’s not so I’ll have to do it some other time.

  53. rachel says

    Mark your calendar or planner for store rewards or high value coupons expiration date. You don’t save if you don’t use them!

  54. says

    I make most things homemade. Simply. Food, etc. we very rarely eat out. I make my own cards, greeting, birthday, etc. I also wrap gifts, rather than gift bag. I recycle and repurpose most items… Add that to using my PayPal “credit” card (not credit, directly linked to my personal bank account), which gives me cash back every month. On average, I save over $5 a day.
    Lisa recently posted..A New Year!!! Welcome 2013My Profile

  55. Sybil b says

    I’ll put aside the $5 bi-weekly into an account that IS NOT connected to my daily spending card. In addition, what I save couponing, I put toward our credit card.

  56. Dianne Shaw says

    We don’t eat out and don’t waste food. Pineapple tops make beautiful house plants! Save all organic seeds. Have glass container for small punts of leftover veggies that I keep in the freezer for soup. Ifill is getting near epiration, I freeze it in tiny muffin tons. Pop put when frozen, wrap in unbleached parchment, then in ziplock bag. Use as “ice cubes” in chocolate milk (reduces sugar), regular milk, or use in smoothies or soup. Cools too hot hot chocolate or coffee, too. Make all my ice cubes this way using filtered water from sink.

  57. Anika Hughes says

    I don’t know how much its saves but I make my own household cleaners using things like white vinegar and baking soda so I don’t have to buy the already made ones.

  58. Judy says

    A way to save money is when you buy clingons for windows .Is when ready to take them down use a old vinyl placemat stick hem onto it and put them away for next time.Don’t ever have to buy new ones again.

    • says

      I use coupons, free shipping. We don’t eat out but on very special occasions and I always use coupons or special deals. I buy in bulk when I have the funds and we buy our meat from a local farmer and it goes so much farther than store meats. We make minimum trips to the store by planning meals in advance. I try to use coupons as much as possible. We keep our expenses to a minimum. We do not have a house pmt or car pmt. Our home is paid for and we share an older vehicle.
      Sherry England recently posted..Guitar Lessons In SurryMy Profile

  59. Michelle Howell says

    When i go out to do couponing i scope out all the isles and sales…for example yesterday i got 21 fl oz Dial lotions at Walgreens because i noticed they were on sale $1.99 and i remembered i had qpons for $1.50 off (1) i saved about $5. Or more on each one i bought! ;)

  60. MelissaG says

    I make a big batch of pancakes once a week and freeze them in individual portions. This makes for an easy and economical breakfast.

  61. Savannah Harrop says

    I use lots of coupons to help me save on the things that I do have to have during the week! I’m also doing the 52 week savings plan but I’ve been putting more up than what is required on the plan sheet! I’m trying to save a good amount of money to go on a vacation when my husbands mother comes over from England!

  62. Melissa Fields says

    We saved more than 5.00 today by hosting a cooking quandary. We invited neighbors and friends over to cook large meals like lasagne, pot pies, meatloaf and a few deserts. We all chipped in and then cut everything up into single serving to freeze so we can all have easy microwave meals all week and not eat out for lunch or dinner as we all have busy lives with work, kids and everyday life. I know each day I spend at least 6.00 in lunch now I will save at least 30.00 this week on eating out and best of all I used coupons on the food so we saved there too. It is so much filing and the husbands even got involved. Thanks for the opprotunity!

  63. Heather Reid says

    Well honestly, I stayed home, so didn’t use any gas, & cooked at home rather than eating out, so saved $$$ there too. ;)

  64. Donna Roucoulet says

    I save at least $5 a day by eating my lunch from/at home, rather than going out to buy something already prepared somewhere else. Helps my waistline too!

  65. Maria I. Perez says

    Here is my tip: We were paying outrageous amounts in our electric bill! One day I decided to call my company and ask how much I was paying “Per Kilowatt Hour” turns out that our contract for 12cnts had expired and now they were randomly charging me 16cnts. After calling every company in town the lowest price was 10cnt. So “KEEP AN EYE ON YOUR CONTRACT” AND DON’T RENEW UNLESS YOU HAVE THE CHEAPEST RATE available in your area!

  66. sandy weinstein says

    when i know that i am going to be done most of the day, doing errands, shopping, dr. appts, etc. i fix my lunch. and take it in a cold bag. i also take snacks. this way, if i get hungry, i wont be tempted to stop at a fast food rest. to get something to eat. i also stop at some of the grocery stores that put out samples to eat- like whole foods, harris teeter, etc. lunch can cost you 5.00 or more, so i am saving the money by taking my lunch and snacks w/ me in the car.

  67. says

    Iv been puttig together lunches out of leftovers for my daughers lunches at college.I just freeze them and by the time she ready to eat at school there defrosted and ready to warm up. prob saves more the $5. a day becouse lunches are so pricey at her school.

  68. rachel says

    Be prepared…for example we are having bad weather here …if not stocked on batteries, canned food ext then we would be susceptible to the non sale couponless more than $5 savings purchases!

  69. Jenn says

    I use vinegar to clean my windows and mirrors and not only does it save me the $5 I would have spent on cleaner, it really is streak free

  70. Brenda Patterson says

    I purchased 6 Degree men’s deoderants from Amazon at an unbelievable price of $7 for 6 and free shipping with my Prime. Used a $5 off coupon at Winn Dixie on my groceries.

  71. says

    Sale meat! I know, many people fear the “clearance” or sale meat- NOT ME! Today I got 7 packages of meat for about $26, well over a $5.00 savings.

    I came home and packaged everything to freeze- including making a sausage mix. One more clearance/sale shop hit and I’ll be set for the month….saving at least 50%!
    Shan recently posted..feel the OO! OOfos Review & Giveaway!My Profile

  72. Aria H. says

    Hi! Can I keep doing this? this is fun. My daughter and I went to a play last night and saved at least $5 by bringing our own water bottles and snacks, and getting a free drink with her student id with our dinner before we went. Also, I received and used 2 free cocktail vouchers for this venue by replying to a survey they had sent me for a prior show we attended. We were well hydrated, for sure.

  73. rachel says

    Check with neighbors, family and church members to see who has unused coupons rather than buying inserts! Family and friends out of state likely get different coupons.

  74. chelle glares geter says

    I saved $5 by saving old bubble wrap from packages i received and old boxes i had saved up from orders in the past. My mom died about a week or 2 ago .. so we had to pack up her things and move them out of her apartment. Those boxes and bubble wrap came in handie. I know i didn’t have money to go purchase those things to wrap her stuff up.

  75. Angela Qcrazy says

    I have the money automatically pulled out of my paycheck and put into my savings account so it is like I never had it…. and I don’t have to think about it which is nice.

  76. says

    We relied heavily on a certain coffee giant to get us up and moving every day. Daily cost: $10. Now we brew at home using our Kurig and an awesome eko (eco k cup) with instant coffee with hot choco… when we don’t just stop and buy energy drinks on the way. Savings of at least $7 if jot more a day. Would like to say we kicked our addiction and are saving $10, but… ya. That’s goona take some time. ;0)

  77. Judy Pierce says

    Today, I went to CVS to pick up a prescription. Paid for it and got $1.00 Reward Buck. Dishsoap was on sale from 2.00 to .99, and pop was on sale 4 for $10, vs $5.50 each (or $22). So I saved more than $5.00. I was quite pleased with myself.

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