The Penny Challenge 2018

After spending an absolute fortune over the Christmas period, I’m always looking for ways I can save money for the next Christmas. However, no matter how much I try to save, I never seem to be able to put away a good amount and by the end of the year I find myself worrying about the cost!

This year however, I’ve been introduced to The Penny Challenge. I’ve seen a lot of people post about this idea across social media and thought I’d take a look into it for myself.

What is it?

The Penny Challenge is a savings concept where, as the title suggests, you save pennies for every day of the year. So, on day one you save 1p, on day two you add another 2p, day three you add another 3p and so on. You then carry this on for the complete 365 days and by the end, as long as you haven’t dipped into it, you will have saved £667.95! That’s a huge help towards Christmas or anything you’re looking to specifically save for!

I’m always finding money lying around the house, in coats I haven’t worn for a while, bags I haven’t used and yes- even down the backs of the sofa’s and I’m sure I’m not alone on this!

Fancy having a go for yourself? Here’s an image you can follow daily from the guy’s at WowFreeStuff!

 

Penny ChallengeThis saving method sounds like something I could do easily- it’s certainly better than putting a bulk away at the end of each month as I always end up dipping into it when things crop up. And if, like me, you didn’t start at the beginning of the year, it’s pretty easy to catch up by finding the date you’re up to, put that amount to one side and start saving on top of that.

Are you trying any saving methods this year?

Mother Hermit xx

*Collaborative Post*

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