The '1p challenge' that will give you over £600 in cash by next Christmas

Friday, 28 December 2018 16:53

With New Year almost upon us, it's time to start tightening our belts and maybe even saving for next year.

And hundreds of people online have already committed to saving using the '1p challenge'.

The challenge is simple - on January 1st you put 1p in a jar and save it for next Christmas.

Then, increase the amount you save each day by 1p. So on January 2nd, you would save 2p.

Continuing throughout the year, on Day 365 (31st December 2019), you will put £3.65 into the jar.

Over twelve months, you will have saved up over £650 - which could be a few nice meals out, Christmas presents or even a small mini-break.

Some people have also suggested completing the challenge in reverse - by saving £3.65 on Day 1 and moving down to 1p at the end of the year.

Have you tried the 1p challenge before? Let us know how you got on via Facebook or email news@mkfm.com.

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