The Save the Date Challenge is a way to save little and often.
It works by taking the date every day, adding up the day, month and year, then setting aside the total amount in pennies.
For example, on the 1st of June 2019, you’d set aside 26p (01 + 06 + 19 = 26).
Or on the 14th November 2019, you’d set aside 44p (14 + 11 + 19 = 44)
You can start whenever you want to. And the amount you set aside every day should be easy to remember, because you can work it out based on the date!
Whether you’re saving for a friend’s wedding, planning a summer holiday, or setting some money aside just in case – this challenge can help you turn the pennies turn into pounds!
How to start the Save the Date Challenge with Monzo
If you use Monzo, you can do it automatically with help from IFTTT, an automation platform that lets you do cool things with your Monzo account.
- Head to the Save the Date 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!
- You can rename your pot to ‘Save the Date’ or whatever you’re saving for
We’ll automatically move the money into the Pot you choose at 8am every day.
How to start the Save the Date challenge manually
If you don’t have Monzo, fear not! Here’s how to do the challenge with pen and paper, the old school way.
- Print off the chart below
- Move the money manually (either by using actual coins and keeping them somewhere safe like a piggy bank OR by transferring the total each day from your Monzo account into a Pot)
- Use the chart to tick off every day!
Join our Monzo Saving Squad Facebook group to let us know how you’re getting on! Good luck! 💪
To start the Save the Date Challenge, download Monzo today!Download Monzo