If one of your resolutions for the new year is to save money, consider taking on a savings challenge for 2026. These challenges range from starting with saving just 1p on the first day to potentially saving nearly £7,000 by the end of the year.
The method of saving is up to you – you can opt for a digital savings account online or the more traditional approach of collecting coins and cash in a jar.
The £1 saving challenge involves saving £1 every day, resulting in a total of £365 saved by the year’s end. If you prefer to save less, putting aside 50p each day would accumulate to £182.50 by the end of the year.
In this challenge, the amount saved increases by 1p each day. You start with saving 1p on January 1, then 2p on January 2, 3p on January 3, and so on, until December 31 when you save £3.65. By completing this challenge, you could save a total of £667.95 by the end of the year, or £164.71 if done until the end of June.
To kick off the week, you save £1 on Monday and increment the amount saved by £1 each day until Friday, reaching £2 on Tuesday, £3 on Wednesday, £4 on Thursday, and £5 on Friday. Skipping the weekends, you would save £15 per week, totaling £780 over the year. Even if done every other week, you could still save £390 by the year’s end.
In another challenge, you increase the weekly savings amount by £1. Beginning with saving £1 in the first week of January, you progress to saving £2 in the second week and so on, reaching £52 in the final week of December. Completing this challenge could leave you with £1,378 saved, or £351 if done every other week.
An advanced version of the Monday to Friday challenge includes weekends. Starting with saving £1 on Monday and increasing the amount by £1 each day, this challenge also includes saving £6 on Saturday and £7 on Sunday. Each week, you would save £28, resulting in £1,456 saved by the year’s end, or £728 if only half the challenge is completed.
The most challenging of all the savings challenges involves increasing the weekly savings by £5. Throughout January, you would save £5 in the first week, £10 in the second week, £15 in the third week, and so forth. Completing this challenge could lead to savings of £6,890 for the year, or £1,755 if halfway through the year.