Here's how you can save more than £600 within a year
The 1p challenge, backed by financial journalist Martin Lewis , has been running for a number of years and aims to save a good chunk of money throughout the year by saving small amounts each day.
The financial expert supports the scheme which works by saving 1p on 1 January, 2p on 2 January, 3p on 3 January and so on throughout the year. By starting with a tiny number and gradually increasing the amount you put away, it results in a significant chunk of money saved by the end of the year. The challenge starts on 1 January 2025 and runs until 31 December 2025. But even if you decide to stop saving in November, you will have already racked up more than £500 to help with the pressures of Christmas.Speaking previously on the ITV Martin Lewis Money Show, Mr Lewis said: "Basically, you save a penny on the first day of the year in a jar or piggy bank, 2p on the second, 3p on the third and keep going throughout the year - by the last day of December you're saving £3.
If you find yourself getting behind and not being able to make the savings each day, here is how much it works out to each month so you can catch up on the challenge if you fall behind.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Police seize haul of fake iPhones which were 'of much use as a paperweight'The counterfeit phones were being sold for up to £600
Read more »
Police seize haul of fake iPhones which were 'as much use as a paperweight'The counterfeit phones were being sold for up to £600
Read more »
The eight family cars set for £600 tax increase under 2025 VED bandsAll new car buyers will see a tax increase, although the amount will be much lower for those who buy greener vehicles
Read more »
Scotland rugby captain Stuart Hogg fined fter breaching bail conditionStuart Hogg has been fined £600 after admitting abuse of his ex-wife, Gillian Hogg.
Read more »
Stuart Hogg: Former Scotland rugby captain handed non-harassment order and fined £600 for breaching bailA court heard how Stuart Hogg, 32, berated his estranged wife for 'not being fun', and once sent more than 200 text messages to her in the space of a few hours which caused her to suffer a panic attack.
Read more »
£600 tax increase for eight family cars under 2025 VED bandsAll new car buyers will see a rise in tax
Read more »