I’ve encountered several posts about this on Facebook. People are saving all 50 peso bills that they get as change. Sounds clever, so I thought I should also give it a try. I actually tried this last year but I ended up spending them on taxi fares, small purchases at a convenience store, and the like.
When I moved in to my place six months ago, I started this 50-peso saving challenge again. The rules are simple, save all 50 peso bills that land on your hand. So if you go to a store with 500 pesos, bought an item worth 100, and the sale clerk handed you eight 50 peso bills as change, you will have to save them all! Don’t ask the clerk to change them to 20’s or 100’s. No cheating!
Personally, I would put them in a small jar and placed it on the table where I normally leave my keys. That gives me the signal to check my wallet for any 50 peso bill upon entering or before leaving the house. I planned to never count the bills until this month (December).
How many 50 peso bills did I collect for six months? I counted exactly 45. Which means I got to save Php2,250. Not bad! I would say it was quite effective and I will surely continue doing this challenge again starting this January.
Any small money-saving tips you want to share?