January 21, 2020
How would you like to save £671.61 in a year with the 1p Saving Challenge? Just imagine it could mean Christmas 2020 is almost paid for. It could be used to treat yourself to something you wouldn’t normally be able to afford upfront and in a lump sum, for example, a new laptop or television. Here is how you can save £671 in a year.
The 1p Saving Challenge is very simple!
On the first day, you put away 1p. On the second day, you put away 2p, on the third day, 3p and so forth. By day 100, you would be putting away £1. By the final day of the year, you’ll be putting away £3.66 (It’s a leap year don’t forget, so we have 366 days to save!)
If you do this from January 1st, through to the last day of 2020, you will save a whopping £671.71.
There are a couple of ways of saving £671 in a year:
There are harder challenges to complete if you would like to, such as saving £1 per week, £2 the 2nd week and so forth. Realistically, this wouldn’t suit many, but worth a shot if you think you can manage!
Finally, don’t feel that you have missed out by not starting on January 1st. Why not start right now and see what you could save? Starting to save later is still better than not at all.
All things considered, if you miss a few days or it gets too difficult around birthdays and Christmas, just remember- saving a few pence is still better than nothing at all.