Monday, 4 January 2016

365 Day Penny Challenge


I have been thinking of ways to save extra money this year to go towards a few future plans. We already put a set amount away into ours and Sonny’s savings account which is one lump sum at the end of each month but I was thinking of other ways to save extra money.  Whilst browsing Facebook I came across the 365 Day Penny Challenge and I thought we will give this a go.

The idea is to put a small amount of money each day into a pot, the amount you put in depends on the day of the year. I have done a few examples below.
Day 1 (1st January) – 1p into the pot
Day 2 (2nd January) – 2p into the pot
Day 126 (6th May) - £1.26 into the pot
Day 365 (31st December) - £3.65 into the pot

By the end of the year I will have saved £667.95


I think this is a good way to save little and often and it uses up the loose change from my purse.

I need to now go and find a jar and pop my loose change in. I will keep you updated with the progress!