How I am doing the 1p saving challenge a little differently – Mummascribbles

We all know about the 1p saving challenge don’t we? If you Google it, there are a fair few options that come up – so popular it has got.

If you don’t know about the challenge then here are the facts:

You start off the year by saving 1p on the first day.

On day two, you pop 2p away.

Day three, 3p.

And you keep adding a penny every single day for 365 days. So on the last day of the year, you’ll put away £3.65, and at that point you will have saved £667.95. Epic right?

Except it’s almost bloody impossible if you do it the way you should do it. Because I don’t know about you, but when you get towards the end of the year and have to start saving £3 odd a day, it’s really hard. When you have to start putting twenty odd pound a week away, near to Christmas. Well I know I couldn’t do it. I got stuck when I started having to put one pound something away every day and so it’s safe to say that I failed this challenge in 2018. I think I managed to save just over £100, then I struggled when I hit the middle section and got so behind that I just couldn’t pick it back up again. Although every now and then I stuck a random note amount in so I hopefully made it up a little bit!

Lots of people say about simply reversing it. Start with the biggest amounts at the beginning of the year and then work down to the smaller amounts. Except again, I don’t know about you, but saving the larger amounts of money during January is a no go. Everyone is skint in January right? There are like 1000 days in January compared to the other months!

So this year I am doing it differently. Instead of doing it in order, I am totally mixing it up. On days when I have a bit more money laying around, I put in some of the higher amounts. And on days when there are only pennies to go to, I pop in the lower amounts.

Of course, doing it this way means it’s a bit more confusing, but I am keeping a tally chart that I add to every time I put some money in, and that way I know how many days I have done.

Because it’s January, I still haven’t done any of the three pound amounts yet, but I have done plenty of £1 ones that are all adding up.

I am determined that this year I will manage to complete the 1p saving challenge. And if you haven’t started then there is totally still time to save a lot of money throughout the year.

Are you doing the 1p saving challenge this year?