If you’ve set a goal to save money in the new year, consider taking on one of these challenges for 2026. Some challenges start with saving just 1p on the first day, while more ambitious ones could lead to savings of 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 traditional approach of using a jar for coins and cash.
The £1 saving challenge entails saving £1 every day, resulting in £365 in savings by the end of the year. If you prefer to save less, putting away 50p daily will accumulate to £182.50 by the year’s end.
In this challenge, the saved amount increases by 1p each day. Starting with 1p on January 1, the savings grow incrementally each day until December 31, culminating in £3.65.
Completing this challenge would amount to total savings of £667.95 by the year’s end. Even if done only until the end of June, savings would still reach £164.71.
The challenge of saving £1 on Monday and incrementally increasing the amount by £1 each day until Friday – £2 on Tuesday, £3 on Wednesday, £4 on Thursday, and £5 on Friday – allows for weekly savings of £15, totaling £780 over the year. Alternating weeks would still result in savings of £390 annually.
Another challenge involves increasing the saved amount by £1 each week. Starting with £1 in the first week of January and progressing to £52 in the final week of December, this challenge could yield savings of £1,378 if completed. Half-year participation or bi-weekly saving would still lead to savings of £351.
A more rigorous version of the Monday to Friday challenge includes weekends, with savings starting at £1 on Monday and increasing by £1 each day, along with savings of £6 on Saturday and £7 on Sunday. This challenge could result in £1,456 in yearly savings, while completing half of it would still yield £728.
The most challenging of all, the £5 weekly increase challenge involves saving £5 the first week of January, £10 the second week, £15 the third week, and so forth. Completion of this challenge could lead to £6,890 in savings, with halfway participation resulting in savings of £1,755.