If you’re aiming to save money in the new year, consider taking on one of these challenges for 2026. The challenges vary in difficulty, with some starting as simple as setting aside just 1p on the first day, while others have the potential to help you save nearly £7,000 by the end of the year.
The method of saving is entirely up to you – whether you opt for a digital savings account online or the more traditional approach of collecting coins and cash in a jar.
One challenge, known as the £1 saving challenge, involves saving £1 every day, resulting in a total of £365 by the end of the year. Alternatively, if you prefer to save less, putting away 50p a day will still accumulate to £182.50 by the end of the year.
Another challenge entails increasing the saved amount by 1p each day, starting from 1p on January 1 and culminating in £3.65 on December 31, totaling £667.95 by the end of the year or £164.71 by June.
In a different challenge, you begin by saving £1 on Monday and incrementally increasing that amount by £1 each day until Friday, then skipping the weekends. This routine would amount to saving £15 per week, leading to £780 saved over the year or £390 if done every other week.
For a more gradual challenge, you can opt to increase the saved amount by £1 weekly, starting from £1 in the first week of January and reaching £52 in the final week of December. Completing this challenge would result in a total savings of £1,378, or £351 if done every other week.
A more challenging version of the Monday to Friday challenge includes saving on weekends as well, where the saved amount increases by £1 daily, plus an additional £6 on Saturdays and £7 on Sundays. This challenge would lead to a total of £1,456 saved over the year or £728 if half completed.
The most challenging of these challenges involves increasing the saved amount by £5 weekly, starting with £5 in the first week of January and escalating to higher amounts each subsequent week. Completing this challenge would result in savings of £6,890 for the year or £1,755 if stopped halfway through.
By participating in these saving challenges, you can work towards achieving your financial goals and building up your savings over the course of the year.