If you’ve set a goal to save money in the new year, consider taking on one of these challenges for 2026.
Some challenges involve starting by setting aside as little as 1p on the first day, while more ambitious ones could lead to savings of nearly £7,000 by the end of the year.
The method of saving is up to you – whether you opt for a digital savings account online or the traditional approach of storing coins and cash in a jar.
The £1 saving challenge entails saving £1 every day, resulting in £365 in savings by the year’s end. If you prefer to save less, putting away 50p daily would accumulate to £182.50 by the year’s close.
In this challenge, the saved amount increases by 1p each day. Starting with 1p on January 1, the savings progress to 2p on January 2, 3p on January 3, and so forth, culminating in £3.65 on December 31.
Completing this challenge could result in total savings of £667.95 by the year’s end. Even if you stop at the end of June, you would still have saved £164.71.
The weekly savings challenge involves increasing the saved amount by £1 each week. Starting with £1 in the first week of January, the savings rise to £2 in the second week, continuing in this pattern until reaching £52 in the final week of December.
Successful completion of this challenge would result in £1,378 in savings. Even if done every other week, the savings would still amount to £351 by the year’s end.
The most challenging variation includes weekends in the Monday to Friday savings challenge. The principle remains the same, with savings increasing by £1 each day; however, £6 is saved on Saturday and £7 on Sunday.
With this challenge, weekly savings amount to £28, leading to £1,456 in savings by the year’s end. Completing half of this challenge would yield £728.
The toughest challenge involves increasing savings by £5 per week. Starting with £5 in the first week of January, the saved amount escalates to £10 in the second week, £15 in the third week, and so on.
Successful completion of this challenge could lead to savings of £6,890. If stopped halfway through the year, the savings would amount to £1,755.
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