If you constantly find yourself counting down the hours until pay day, then try this ridiculously easy hack that could help anybody boost their bank balance.
Finance blogger Marie C. Franklin came up with an ingenious money-making idea which helped her turn £5 into £30,000.
Around 13 years ago she decided to save every fiver she came across and since then she’s pocketed a tidy sum.
The American college professor writes about her super-saving hacks on her blog Save Money Fast With Fives.
She said: “My two daughters were both in college 13 years ago when I started my practice of saving $5s (£4).
“It was, simply, the only way I could manage to save even a small amount of money while shouldering, along with my husband, the responsibility of financing their college educations.
“Saving each and every $5 bill that passes through your hands will add up to a sizeable nest egg over time. Mine is nearing $40,000 (£32,137) after more than 12 years.”
Marie isn’t the only fan of squirrelling cash away. American entrepreneur and millionaire David Bach reckons you should saving the moment you receive your pay cheque.
David learnt the hack from an average Joe called Jim McIntyre, who was ready to retire at the age of 52 despite never making much more than a $40,000 (£30,222) salary in his lifetime.
Jim said: ”Most people think that when they get their pay cheque, the first thing they should do is pay all their bills – and then, if there is anything left over, they can save a few dollars."
But by doing things a little bit backwards, Jim reaped the financial rewards.
He decided to give himself some cash first, by putting some money into his savings account, and then he went on to pay the bills.
Although Jim and his wife Sue found the money-making method tricky at first, they taught themselves not to miss the cash they banked straight away.
David decided to follow Jim’s wise advice and started banking 1% of his income.
Once he got used to the idea he gradually upped it until he was saving 20%.
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