Why should you try the $5 challenge
For immediate release: June 18, 2019
Contact: Jewel Stone, email@example.com
How a savvy entrepreneur is saving thousands by using a simple trick
AUSTIN, TEXAS — April was a month of ahorros gigantes or big savings for 106 Central Texas female entrepreneurs. Inspired by the story of Isabel Arellano, also known as the “Five Dollar Tycoon", they saved more than $66,000.
Arellano met with her fellow female entrepreneurs in a JUST conference on March 30th, where she shared the secret of how she managed to save $8,500 in one year by simply collecting five dollar bills.
“Sometimes people think five dollars is nothing, but five dollars is a lot in one year. It is a lot,” Arellano emphasized.
She says that having those few thousands in her pocket allowed her to grow her designer handbag business. One which she managed as a side hustle for months, until she joined the JUST family.
“I know I needed to save, but I didn’t know how to do it,” Arellano admitted.
Arellano has now turned her small venture into a full-time enterprise.
“With my first loan, I used to invest (in hand bags). At that time, I didn’t have a lot of clients, but I decided to invest. Something had to come out of it,” she said.
Her intuition was right, and her hard work worth it. Now, she wants to share her story with the hopes of inspiring other women to follow their dreams.
The savvy entrepreneur talked 106 women into saving as much money as they could for the month of April. With the help of BBVA, the participants also opened free and no-minimum bank accounts during the conference held at the Impact Hub Austin.
Yoly Davila, SVP of BBVA said, "We are excited to partner with JUST because, like our motto – Creating Opportunities – they are helping underrepresented entrepreneurs gain access to capital and a supportive community."
H-E-B also sponsored the event as part of their commitment to diversity and inclusion. “H-E-B has been a community partner since 1905. Our founder, Mrs. Florence Butt started with a vision, $60 and a prayer. She found a banker who was kind-hearted enough to take a chance on her and the rest is history. We see JUST as that same kind-hearted organization providing the business skills to go along with the funding.” Says James Harris, H-E-B’s Director, Diversity & Inclusion and Supplier Diversity.
The event kicked off their first step into the savings challenge and the results speak for themselves. As Arellano says, “I am on my way. Little by little, accomplishing the things I have dreamt."
Click here to watch Arellano's story.