How do you split a file base on a token?

Question

Let's say you got a file containing texts (from 1 to N) separated by a $ How can a slit the file so the end result is N files?

text1 with newlines $
text2 $etc... $
textN

I'm thinking something with awk or sed but is there any available unix app that already perform that kind of task?

Answer 1

awk 'BEGIN{RS="$"; ORS=""} { textNumber++; print $0 > "text"textNumber".out" }' fileName

Thank to Bill Karwin for the idea.

Edit : Add the ORS="" to avoid printing a newline at the end of each files.