Today I wanted to share with you a clever money-saving idea I came across on the excellent Wow Free Stuff website.
The Penny Challenge offers a painless way to save money every day – so in a year’s time you will have the substantial sum of £667.95 stashed away. That’s money you could put towards a nice holiday or some other big purchase you have set your heart on.
How It Works
The challenge itself is very simple.
On the first day you put aside one penny. Each day after that you add another penny to the amount you save. So on the second day you save 2p, on the third day 3p, and so on. Over the course of a year (365 days) the amount you have to save each day is shown in the grid below.
As you will see, by the last day of the challenge you will have to find £3.65 – still an easily affordable sum. And once you have done that, you will have a total of £667.95 to spend on anything you like.
I really like this challenge and plan to do it myself, starting from 1 February 2018. It will be great to have a savings pot of £667.95 by this time next year. I’m already planning what I might spend it on!
Please let me know if you decide to take the Penny Challenge too by posting a comment below. And, of course, if you have any other comments or queries about it, feel free to post them also.
Statutory Disclosure: This is a sponsored post for which I am receiving a fee.