The 1p Saving Challenge involves saving a little money every day, starting with 1p. The next day you save 2p, the day after 3p. After a year, you’ll be setting aside £3.65 on the final day and have a total of £667.95 in savings!
By setting money aside little and often, the idea is that you’ll find it easier to make room in your budget for saving, and start a habit you’ll hopefully continue.
How to do the 1p Savings Challenge manually
You can do the challenge by using this chart, moving the money manually and ticking it off every day. Just print off the one below to get started!
You can try doing the challenge in reverse if you want to start off savings lots and make the challenge gradually get easier. Or try ticking off random amounts if you want to spread the cost across the year.
How to do the 1p Savings Challenge with Monzo
If you use Monzo, you can do the 1p Savings Challenge automatically with help from IFTTT.
Head to the 1p Savings Challenge on IFTTT and tap ‘Get Started’
You’ll need to log into Monzo and agree to some terms
Next, choose which pot you’d like to put your savings in (or go to your Monzo app to make a new one)
Tap ‘Save’ to get started!
We’ll move the money into the pot you chose every day automatically!
Join the 1p Savings Challenge group
Join the 1p Savings Challenge group on Facebook to share your ideas and find tips from other people taking it on too. Good luck! 💪
To start the 1p Savings Challenge, download Monzo today!Download Monzo