Easy 1p money saving hack could help Brits put away hundreds without realising

Trying to save money can be quite difficult, especially with Christmas around the corner.

Loads of Brits will be looking for ways to put away some extra funds into a savings account for the future. Now what if we told you all you need is 1p.

That's right, you could save almost double the amount by doing the 1p challenge which could give you a total pot of £671.61 by the end of the year.

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The idea behind the 1p saving challenge is simple, you start the first day of the year with 1p in your pot, then keep adding as the days go on.

So on New Year's Day you start with 1p, while on January 2, you'd save 2p, then afterwards it's 3p and so on. By that third day, you will have already saved 6p.

The point of the 1p saving challenge is that you put a little in each day and save quite a hefty chunk towards the end of the year. But it does get harder by December.

Shawbrook bank suggested there are variations on the 1p challenge which might make it easier. One method is the "reverse 1p saving challenge" where you start with £3.66 then shave off 1p each day.

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Here you'll end up with the same money but could be easier since December is always tricky with Christmas presents and other festivities cropping up then.

Another money saving expert suggested putting cash on a weekly basis, which could be good if you can't find the right amount of coins each day.

Experts also said getting kids to save 10p a week which leaves them with £36.60 by the end of 2024 which is a hefty pot if you're young.

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