Anyone starting a saving challenge in January?

SideWinder

SideWinder

SideWinder

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I have linked up my Monzo to IFTTT ready for the 1p Reverse Savings Challenge.

On 1st January £3.65, for the number of days in a year, is moved to a separate pot automatically and then £3.64 on the 2nd etc.

It adds up to over £600 for the year and a bit of fun really.

Are you lot doing anything similar?
 
Not necessarily taking part in a "challenge", but will probably up my savings contributions next year. Not sure how fun that is! :D
 
SideWinder said:
I have linked up my Monzo to IFTTT ready for the 1p Reverse Savings Challenge.

On 1st January £3.65, for the number of days in a year, is moved to a separate pot automatically and then £3.64 on the 2nd etc.

It adds up to over £600 for the year and a bit of fun really.

Are you lot doing anything similar?
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Have done that the last couple of years, although not the reversal - so starting January with 1p. I normally have that one going and the roundup, although don't really see much point in the roundup.
 
I might do this. In years gone buy i have always emptied my pockets of any coins into a big money box each day. Empty that every year and it normally has £500-£600 in it.

But last two years has been sparse as I basically dont pay with anything cash anymore and just use my watch to pay contactless.
 
dLockers said:
I don't think OP was suggesting he goes to the Bank each day and withdraws the value in cash.
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Banks don't beat inflation though.

in reality your not really saving, your losing money each day as it's purchasing power fades.

it's just a gimmick for the banks to get their hands on your money.

you'd probably be better off investing in stalker coins, or get a piggy bank you atleast have the fun of smashing it and counting the monies.

if you have kids you can let them count it for you get them excited about saving monies.

why not even do a piggy bank for your kids if savings for the "fun/gimmick" of it.


teach them good things come to those who wait
 
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arknor said:
Banks don't beat inflation though.

in reality your not really saving, your losing money each day as it's purchasing power fades.

it's just a gimmick for the banks to get their hands on your money.

you'd probably be better off investing in stalker coins
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:confused:
 
arknor said:
Banks don't beat inflation though.

in reality your not really saving, your losing money each day as it's purchasing power fades.

it's just a gimmick for the banks to get their hands on your money.

you'd probably be better off investing in stalker coins, or get a piggy bank you atleast have the fun of smashing it and counting the monies.

if you have kids you can let them count it for you get them excited about saving monies.

why not even do a piggy bank for your kids if savings for the "fun/gimmick" of it.


teach them good things come to those who wait
Click to expand...

Do you put every penny you own into a high interest account (of any type of investment)? Bear in mind that most of those tend to have not-so-instant turnaround times for getting your money back.

The reality is that everyone will have a small amount of cash sitting in their current account for general daily expenses - whilst arguably getting poorer every day because of inflation.
 
Why do people have to get so serious and technical about things.

It’s just a bit of fun lol. Some people have to suck the fun out of everything!
 
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