If you’re looking to save money in the new year, consider taking on one of these challenges for 2026. The challenges vary in difficulty, with some starting as small as saving just 1p on the first day, while others could help you accumulate nearly £7,000 by the end of the year.
The method of saving is flexible, allowing you to choose between setting up a digital savings account online or opting for the traditional approach of using a jar for coins and cash.
One of the challenges is the £1 saving challenge, where you save £1 every day, resulting in £365 in savings by the end of the year. If you prefer to save less, putting away 50p a day would still amount to £182.50 by the year’s end.
Another challenge involves increasing the amount saved by 1p each day, starting with 1p on January 1 and culminating in saving £3.65 on December 31, totaling £667.95 saved for the year, or £164.71 if completed until the end of June.
For a weekly saving challenge, you start by saving £1 on Monday and incrementally increase the amount by £1 each day until Friday. By skipping weekends, you would save a total of £15 per week, adding up to £780 over the year or £390 if done biweekly.
A more gradual challenge involves saving an additional £1 each week, beginning with £1 in the first week of January and progressing to £52 in the final week of December, resulting in savings of £1,378 if completed for the year or £351 if done biweekly.
For those seeking a more rigorous challenge, there’s the daily saving challenge that includes weekends. Starting with £1 on Monday and increasing the amount by £1 each day, as well as saving £6 on Saturday and £7 on Sunday, would lead to saving £1,456 by the year’s end or £728 if completed halfway.
The most challenging of all is the weekly saving challenge that involves increasing the saved amount by £5 each week. By following this structure, you could save £6,890 for the year or £1,755 if completed halfway through.
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