![\"Martin](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/01\/martin-lewis-and-savings-pot.jpg\")
<\/p>\nSavers looking for a structured way to build up money over the course of the year can accumulate \u00a3667.95 by following the so-called 1p challenge.<\/p>\n
The saving method, which has been promoted by the Money Saving Expert team, involves setting aside gradually increasing amounts each day over 12 months.<\/p>\n
The challenge has grown in popularity in recent years, with many people beginning in January and continuing through to the end of December.<\/p>\n
Under the standard version of the challenge, participants save 1p on January 1, 2p on January 2, and continue increasing the amount by 1p each day.<\/p>\n
By the end of January, savers will have set aside \u00a34.64, and at the halfway point of the year, total savings reach \u00a3168.36.<\/p>\n
On December 31, the final daily contribution reaches \u00a33.65, with the total amount saved standing at \u00a3667.95.<\/p>\n
Money Saving Expert has described the challenge as a manageable way for people to save small amounts regularly.<\/p>\n
Former Money Saving Expert writer Molly Mileham-Chappell said she completed the challenge with her husband.<\/p>\n
She said: “Completing the challenge alone saved me \u00a3667.95 across the full year, so between the two of us we saved \u00a31,335.90 over the 12 months.”<\/p>\n
“If you can afford to take part, do give it a go.”<\/p>\n
Savers looking for a structured way to build up money over the course of the year can accumulate \u00a3667.95 <\/p>\n
| PA\/GETTY<\/p>\n
Some savers find the higher daily amounts later in the year difficult to manage.<\/p>\n
To address this, an alternative version known as the reverse 1p challenge is also commonly used.<\/p>\n
Under this approach, savers start by setting aside \u00a33.65 on January 1.<\/p>\n
The amount then decreases by 1p each day until reaching 1p on December 31.<\/p>\n
The reverse method results in the same total saving of \u00a3667.95 by the end of the year.<\/p>\n
Supporters of the reverse challenge say it can be easier to complete because larger amounts are saved earlier in the year.<\/p>\n
Others prefer the original version, as it starts with very small daily contributions, with digital banking apps introducing tools designed to automate the process.<\/p>\n
![\"Monzo](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/01\/monzo-customer-uses-app-beside-bank-card.jpg\")
Monzo has linked completion of the challenge to a prize draw<\/p>\n
| MONZO<\/p>\n
Monzo allows customers to set up the challenge within its app, automatically transferring the required amount into a savings pot each day.<\/p>\n
Marc Sfeir, product director at Monzo, said: “Last year, we saw over a million people take part in the Saving Challenge, proving that small steps can lead to big wins.<\/p>\n
“For 2026, we’ve made it even more rewarding with new levels, higher interest on savings, and of course, we had to bring back the chance to win that \u00a310,000.”<\/p>\n
Monzo customers can sign up to the challenge until January 31, 2026.<\/p>\n
The bank said savers can pause, stop or withdraw their money at any point if their circumstances change.<\/p>\n
For those who prefer not to use app-based tools, Money Saving Expert provides a printable tracker.<\/p>\n
![\"Saver\"\/](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/01\/saver.jpg\")
Financial advisers note that the challenge may not be suitable for everyone<\/p>\n
| GETTY<\/p>\n
Some savers adapt the challenge by depositing weekly or monthly amounts instead of daily transfers.<\/p>\n
Saving \u00a355.67 per month would result in the same \u00a3667.95 total over 12 months.<\/p>\n
Others choose to save irregular amounts and tick off the corresponding daily totals as they go.<\/p>\n
Savers are encouraged to consider their wider financial situation and ensure essential bills and emergency funds are prioritised.<\/p>\n
The 1p challenge is one of several structured saving methods designed to encourage regular contributions over time.<\/p>\n","protected":false},"excerpt":{"rendered":"Savers looking for a structured way to build up money over the course of the year can accumulate…\n","protected":false},"author":2,"featured_media":673997,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,474,1059,1232,2499,3028,16,15],"class_list":{"0":"post-673996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-martin-lewis","11":"tag-money","12":"tag-personal-finance","13":"tag-savings","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115838763803586907","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/673996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=673996"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/673996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/673997"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=673996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=673996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=673996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}