Money-saving challenges are a creative way to reach your savings goals. Saving little and often develops good habits so you can afford a deposit on a car or a holiday.
Even if you don't finish the challenge, you've still saved some money and that's worth celebrating.
Here's a selection of our favourite challenges - take a look and see which one's for you!
The 52 week saving challenge
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This one has a simple premise:
Keep going through the rest of the year adding £1 to your saving amount, until you get to:
Total saved:
£1,378
Reverse 52 week saving challenge
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Reversing the 52-week challenge is just as effective.
For this one, you'll start with the largest saving:
Each week reduce the amount by £1 'till:
Total saved:
£1,378
The 26-week saving challenge
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If you get paid every other week,
this is the savings challenge for you. It's simple:
(That's £1 for week one and £2 for week two!)
(So £3 for week three and £4 for week four!)
And so on until you reach payment number 26:
Total saved:
£1,378
The £5 savings challenge
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This tougher challenge is aimed at those who need something to help stop them spending:
Keep mulitplying £5 by the week of the year until youre at:
Week 52 = Save £260
Total saved:
£7,000
The monthly saving challenge
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Vary your savings each month by £25:
Increasing by £25 each month until you reach:
Then start to decrease by £25 each month:
Total saved:
£1,050
The £1/365-day saving challenge
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This is the most straight forward of the challenges:
Just save £1 a day!
Total saved:
£365
The 1p/365-day saving challenge
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This challenge encourages saving a little bit of money every day!
Continue this increase throughout the year, ending with:
Total saved:
£667.95
The £1,500 a year saving challenge
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This challenge increases the amount you save throughout the week, and then resets for the next week. For example if you started on a...
Follow this up to Sunday, and then start over, saving £1 the following Monday
Total saved:
£1,456
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If a set of wheels is your goal but you're not sure where to go next, check out our guide to car finance.
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