Martin Lewis’ easy saving challenge
Karen Stocker, 45, from Plumstead, London, has been following a savings plan with her spare change throughout the year – known as the 1p Savings Challenge.
Money-saving challenges are budgeting activities where someone can set a financial goal in a creative way, rather than having to add a certain amount to a savings bank account each month.
They usually involve stashing away a bit of money each day, week or month until you’ve got enough to put towards a holiday, special occasion or birthday present.
The 1p money saving initiative, made popular by the money saving expert Martin Lewis, starts with saving 1p on January 1, then 2p on January 2, then 3p on January 3 and so on, with the last day of the year totalling £3.65.
If you started on January 1, 2021, then by December 31, 2021 you’ll have saved a grand total of £667.95.
