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Pixie Knuckles
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Pixie Knuckles is offline
Scotland, UK
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07-02-2021, 07:21 PM
11

Re: 1p a day = over £600 in a year!

Isn't that always the way recently? Everyone paying by card? Even shops (some shops anyway) are reluctant to handle cash - one shopkeeper even puts his coins in a dish of Anti Bac soap and swishes them around before putting them in his till!

@d00d - That's actually quite funny!
Flowerpower
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East Anglia, UK
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07-02-2021, 07:24 PM
12

Re: 1p a day = over £600 in a year!

Last year I saved a pound coin ever day in a jar so saved £365.You donít miss a pound.
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Pixie Knuckles
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Pixie Knuckles is offline
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07-02-2021, 07:58 PM
13

Re: 1p a day = over £600 in a year!

Originally Posted by Flowerpower ->
Last year I saved a pound coin ever day in a jar so saved £365.You donít miss a pound.
That's true, and another good idea to add to the kitty.....oops!
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07-02-2021, 09:05 PM
14

Re: 1p a day = over £600 in a year!

I have a big coffee jar I save all my change in, except pound coins, I always need them for this n that, when full it holds around £300 and I take it to the Supermarket to one of those big machines that sort out the change and give you a ticket to take to Customers Service to get get the cash.
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Pixie Knuckles
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Pixie Knuckles is offline
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07-02-2021, 09:16 PM
15

Re: 1p a day = over £600 in a year!

Originally Posted by Roxy ->
I have a big coffee jar I save all my change in, except pound coins, I always need them for this n that, when full it holds around £300
Wow that's one heck of coffee jar, Roxy! How long does it take to fill up?
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Bruce
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Wollongong, Australia
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08-02-2021, 03:10 AM
16

Re: 1p a day = over £600 in a year!

Originally Posted by Pixie Knuckles ->
Gosh that title sounds like an advert, ha!

Anyway, I'm sharing a savings challenge which I found online last year. Basically you begin by saving 1p on day 1, 2p on Day 3, 3p on Day 3....all the way through to the final day of the year where your last amount to save will be £3.65. When you add it all up, you will have approx £667.00.

You can begin with the higher amount too, of £3.65 and work backwards if putting away a few pounds is difficult in December.

I tried this last year and it worked but haven't started this year. You can start anytime, providing you cover 365 days to get the full amount.

Not sure if I'm allowed to post links yet, but I'll try if anyone is interested to know more

The problem with that system is that you save $230 in the last ten weeks and $30 in the first ten weeks. Seems a bit skewed to me and designed to fail..

Surely you would be better off saving a regular amount each week for a year say $2 each day which would be $730 at the end of the year with out the stress of $25 each week at the end?

(obviously substitute pounds for $)
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08-02-2021, 08:26 AM
17

Re: 1p a day = over £600 in a year!

I did the 1p challenge last year, I also threw in more when I had spare coins. It was easy for first couple months but it gets expensive by the last few months and I think some people wouldn't afford it. I cheated and put monthly payments in rather than daily as I didnt have enough cash each day.

I ended up with around 900 quid.

I started again in January. I like the £1 challenge it sounds easier.
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Pixie Knuckles
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Pixie Knuckles is offline
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08-02-2021, 09:37 AM
18

Re: 1p a day = over £600 in a year!

Originally Posted by Lion Queen ->
I did the 1p challenge last year, I also threw in more when I had spare coins. It was easy for first couple months but it gets expensive by the last few months and I think some people wouldn't afford it. I cheated and put monthly payments in rather than daily as I didnt have enough cash each day.

I ended up with around 900 quid.

I started again in January. I like the £1 challenge it sounds easier.
Absolutely agree - not everyone can afford the amounts required on a daily basis. I just love the general idea of putting away a handful of change and ending up with a few hundred pounds at the end of the year. Whether its random loose change or a pound a day. £900 is a hefty sum, well done!
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Pixie Knuckles
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Pixie Knuckles is offline
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08-02-2021, 09:41 AM
19

Re: 1p a day = over £600 in a year!

Originally Posted by Bruce ->
The problem with that system is that you save $230 in the last ten weeks and $30 in the first ten weeks. Seems a bit skewed to me and designed to fail..

Surely you would be better off saving a regular amount each week for a year say $2 each day which would be $730 at the end of the year with out the stress of $25 each week at the end?

(obviously substitute pounds for $)
Agreed! Do whatever works best for your own situation. The point is to do something useful with loose change every day and end up with something fairly substantial at the end.
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Cass
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Cass is offline
NL
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08-02-2021, 10:22 AM
20

Re: 1p a day = over £600 in a year!

For years Ive put away Ä10 a week from the shopping money so that come Christmas I have a nice little pot that I can spend without putting any extra strain on the bank balance or touching our other saving account.

I do the same for the dogs vet bills. Not regular check ups or vaccinations that cost just a few quid but in case something bigger happens, just a small amount each week and its turned into a nice chunk so that if anything happens Ive got the money to pay for it and I know no cheating insurence company will suddenly change their T&C's or claim my particular problem isnt covered, plus if the boys dont need any major treatment the money stays mine.
 
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