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 you’ll find it easier to make room in your budget for saving, and start a habit you’ll hopefully continue.
You can do the challenge by printing off a chart, moving the money manually and ticking it off every day.
Or you can ditch the pen, paper and piggy bank and do it automatically with the Monzo 1p Saving Challenge – a UK banking first.
All customers who join the challenge by 31 January 2025 will be in with the chance to win a £10,000 prize (Ts&Cs apply).
Automate the 1p Saving Challenge with Monzo
On day 1 of the challenge we’ll automatically transfer 1p from your personal account to a new Challenge Pot. You can pause the challenge at any time, and withdraw your money instantly if you need to.
If you have a free, Plus or Premium account
If you’ve got a free, Plus or Premium account, you can only join our 1p Saving Challenge if you start before 31 January 2025. After that it’s only available for customers with Monzo Extra, Perks or Max.
Find out more
If you have an Extra, Perks or Max plan
If you've got a Monzo Extra, Perks or Max plan, you can join the challenge at any time. But if you join by 31 January 2025, you’ll also get the chance to win a £100 prize every month. Ten £100 prizes are up for grabs each month between February 2025 to January 2026!
Up for the challenge?
Check out the 1p Saving Challenge page to find out more details and how to get involved.
Find out more
Personal Current Account required. UK residents. 18+. One entry per person. Ts&Cs apply.
For a chance to win £10,000, start by 11:59:59 pm on 31 Jan 2025 and have £667.95 in your Challenge Pot by 11.59:59 pm on the 365th day of your challenge.