The Reverse 1p Saving Challenge: a saving challenge that actually gets easier

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New year, new you. You've said it a thousand times before. But this year, you mean it. You're determined to drink less, exercise more, and actually bring your lunch in.

If you're entering 2020 with newfound optimism and energy – consider focussing it on your finances by taking on an ambitious saving challenge.

The Reverse 1p Saving Challenge gets easier over time

The 1p Saving Challenge involves saving a little bit of money, every single day. It usually starts by setting aside 1p. Then next day you save 2p, the day after 3p, and so on.

But this year, why not take on the challenge backwards! And start by setting aside £3.65 and reducing the amount by 1p every day.

This means the challenge actually gets easier over time! And the most challenging weeks won’t coincide with expensive times like Christmas. It’s great if you want to go hard while you’re still motivated, then ease up as the year goes on.

The best part is you’ll still have £671.61 in savings at the end of the challenge!

How to do the Reverse 1p Saving Challenge with Monzo

You can take on the challenge with your Monzo account.

Thanks to our integration with the world’s largest automation platform If This, Then That (IFTTT), you can set up your Monzo account to do the challenge automatically.

  1. Head to the Reverse 1p Saving Challenge on IFTTT

  2. Log into Monzo and agree to some terms

  3. Choose which Pot you’d like to put your savings in (or make a new one)

  4. Tap ‘Save’ to get started!

We’ll move the money into the Pot you chose every day.

When you connect your Monzo account to IFTTT, we ask you to give IFTTT permission to do things like move money into Pots. But don’t worry, IFTTT will only do what you’ve asked it to, when you set up a challenge like this one.

To start the Reverse 1p Saving Challenge, download Monzo today!