Needing to save but don't have the money to spare? The average household in the UK is said to have £20 worth of pennies lying around in clothes, bags and around the house. The PlayPennies 1p Saving Challenge demonstrates just how much you can tuck away by saving the odd spare penny.
In a year (365 days), you can start by saving 1p on day one, 2p on day two and by the last day you will have a whopping total of £667.95! What a low impact way to work towards that holiday or wedding dress.
This chart shows you exactly how much to pop in the piggy bank each day...
Why not print yourself a copy off here and start saving today?
I am grabbing one of these Paint Your Own Ceramic Money Pots* to store my money in, or you could get a Digital Coin Bank* that counts the money for you, making it even easier to keep track.
I'm trying this, I started on November 1st and just added 67p for today!
Good luck everyone xx ☺
been doing this in work for many years. Goes to charity and those in need. Raised thousands
Has anyone else noticed the fundamental flaw in this plan. In order to ensure I had the exact change available to save each day, I would have to either spend money to get the change or keep a stash ready for the occasion. Whilst it appears a great way to save, it's actually a great way to encourage spending. To save the same, you're better off putting in place a direct debit that comes out on payday so is gone before you notice it as income.
apologies if this has already been covered. But are there any banks that just let you setup some kind of standing order where it automatically puts away a penny, then 2p and so on for you?
Thanks,
Jass
For anybody using Monzo, you can set it up to add to a pot automatically using another app, IFTTT. (There's other saving challenges as well if another one may be more to your fancy) It automatically increases the amount by a penny a day. There's also an option to activate it in reverse, as others have suggested may work better. I've got this set up and I've locked the pot for a year to try and safeguard against me dipping into it!