These 3 Money-Saving Challenges Will Legit Bag You Almost £1000 If You Actually Stick With Them

10 January 2018, 15:01 | Updated: 18 August 2022, 15:51

Let's all save some cash this year shall we?

We all need a little spare change here and there. When we're not splashing the cash on gig tickets and merch, we're scraping together those last few pennies so we can get that £3 meal deal.

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So what would you say if we knew a method of two about possibly saving you a bucket load of moolah? Interested you say... right this way:

1. The £5 Note Challenge

If you haven't come across the $5 challenge in the U.S.A right now then prepare to have your mind blown. The actual steps to take are very simple. All you need to do is save every single £5 note you get. Whenever you break into a £10 or £20 note, stash that fiver away in a suitcase or jar and by the end of the year you could have a nice little pile of moolah stocked up!

So I saw this 5 dollar challenge once. And I saved almost every 5 dollar bill I got as change this year. And it yielded me nearly 500 dollars! Excellent way to save y'all ^_^ pic.twitter.com/5UMNsMTtta

— Accidental Boar (@AccidentalBoar) December 26, 2017

2. The No Spend Challenge

This kind of seems like a no brainer right? Obviously if you don't spend any money... you're going to save money duh! BUT, there is method behind the madness.

The whole idea is to only spend money on necessities. When you're at work and you fancy a fancy coffee from that hipster joint around the corner, ask yourself why you can't just have the regular coffee from the kitchen? Flat whites are almost £3 these days! Have one a day and you're close to dishing out £20 a week (psst, that's almost a grand a year).

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3. The 1p Challenge

Ready for some quick maths? This cheeky challenge will bag you over £600 by the end of year, no exceptions.

Here's the deal, on the first day of the year (don't worry if you've missed it, it'll be easy to catch up), you put 1p in your savings account. On the second day, you put 2p in, on the third you stick in 3p and so on.

When you finally deposit £3.65 on the last day of December you would have amassed an incredible £667.95 - what are you waiting for?!

Whilst you're here we think it might be time for another watch of John Boyega and Sonny Jay's 'bad joke-off'.