Created by parenting website, PlayPennies, the challenge asks you to start small but will enable you to save hundreds of pounds within one year.
HOW DOES IT WORK?
On the first day of the challenge, you put in 1p. On the second day, you put in 2p. On the third, 3p. Each day you increase the amount you put in your piggy bank by 1p. On the final day of the year you will put in £3.65.
TOTAL SAVINGS
By the end of 12 months, if you complete the saving challenge, you will have amassed £667.95 – a healthy sum.
You can do the saving by using a piggy bank, or online banking – whichever you prefer.
The challenge can also be reversed if you're worried about not having enough money by the end of the year. So you start with £3.65 and then decrease this amount by 1p every day.
So, just like the familiar phrase says – look after the pennies and the pounds will look after themselves. Will you try it?