Can You Take on the Five Dollar Challenge?

Can You Take on the Five Dollar Challenge?

Edwina Henry, Author

At the beginning of the year I started the Five Dollar Challenge.

The Five Dollar Challenge rules are as follows: whenever you find a five dollar bill, you save it instead of spending it. Eventually it adds up to a pretty large amount of money in a very short time. Just this month alone, January 2017, I was able to save $55 by saving every five dollar bill I earned.

On January 11th, I had already gathered $15, January 18th I had made it to $30, and on January 25th I made $45 dollars.

I will continue with this challenge throughout the rest of the school year and will write about it again to show how much I have in the end.

This is an important, but potentially under-appreciated part of our education. In Canada, the province of Ontario is making financial literacy lessons like this mandatory, starting sophomore year of high school!

You can start the Five Dollar Challenge too. It’s not too late!