If you’re desperate to start saving some money – for any occasion – but your budget can’t stretch to £1 a week in the 52 week saving challenge, how about trying the Skint Dad 1p saving challenge instead?
First created at Skint Dad in 2015/2016, this is the original 1p challenge (updated for 2022).
So many people have heard of the 52 week saving challenge. If you haven’t it’s quite simple, so let me explain.
The idea behind the money saving challenge is that you save an increasing amount per week for each week of the year. In week one you save £1, week two you save £2, three you save £3 until you’re saving £52 by the last week of the year.
The first few weeks are obviously easy as you’ll have to put away £10 from your budget.
However, by the end of the year, you’ll be down the total each week of £49, £50, £51, £52 (£202!!) – that’s a lot of money for any month, let alone December.
If you’re skint, this can get really hard!
For me, this target just seems a little bit too far out of my comfort zone.
Although we’d be able to make the savings initially within a few months our budget just wouldn’t stretch anymore and we’d fail.
If these are the kind of targets that you’ve been looking at but feel like you’re setting yourself up to fail then think again!
The challenges can be easily adapted for the skinter people of the world and the Skint Dad 1p Saving Challenges are even easier to do!
Happy saving – say goodbye to being skint!
Skint Dad’s 1p saving challenge for 2022
Instead of trying to over-save, why not try a similar saving challenge by saving just a penny at a time (still increasing each and every day).
So there are some of you saying, “Just a penny? Are you crazy? There’s no chance you’d save anything saving a penny a day!”
But could I?
Well, one penny adds up quickly.
In a year, you can save nearly £700 by putting just 1p away on day one, 2p on day two….you get the idea.
For a normal (365 day) year you can save £667.95, and in a leap year, you can save £671.61.
How much has been saved?
There are more than 16 million people in the UK who have savings of less than £100, according to a study by the Money Advice Service.
Without even trying, the 1p saving challenge can see you hit £100 in savings really easily!
This is a really popular challenge and it’s changed how people are saving money.
In the last year alone, if everyone who accessed our free 1p saving challenge printable managed to save the full amount, there would be a collective savings total of…
…drum roll, please…
£36,837,442.50
£36 million pounds!
Now I’m not saying that everyone hit on the print button, or that everyone managed to save for the entire year, but just imagine if they did.
It just goes to show the potential amount of money we could collectively save – just by saving your pennies!
Plus, the Skint Dad 1p challenge has been so popular that it’s been picked up over the years by the press and loads of other money sites, who obviously think this way of saving rocks, which means even more people will be saving money.
2022 1p challenge – free printable
By popular demand, the Skint Dad 1p Challenge fits onto one A4 sheet.
Downloadable PDF: Skint Dad 1p Challenge 2022
Downloadable Excel doc: Skint Dad 1p Saving Challenge Excel doc 2022
This’ll help save your printer ink, paper use and will mean fewer things to lose.
We’ve still got all the best features that you’ve told us you love.
You’re able to tick off each of the 365 days as you go and you’re able to track how much you’ve saved along the way.
In a leap year, while some people get to have a birthday for the first time in four years, others think it’s lucky for a woman to propose to a man. When it comes to a savings challenge, it means you can save more.
You can save an extra £3.66 in a leap year, meaning the total you can save is £671.61. We adjust the printable for an extra day for savings and will share the leap year chart again in 2024.
Need help with the 1p challenge?
Many people started the 1p saving challenge at the beginning of the year but a few of you have started to struggle.
Don’t get put off!
We’ve got plenty of tips to keep you on track so you can still save £667.95 by the end of the year.
One way to give your saving journey some extra fire is to decide on a specific saving goal.
You’ll be extra motivated not only for the sake of spending less but also by being able to do or have things you didn’t think were attainable.
For your inspiration, here are some bucket list adventures that will help you visualise what is possible, even when you’re starting with pennies!
Want to save differently? Try an alternative savings challenge
Undated 1p saving challenge – to use at any time of the year
If you’re a fan of our old formats, we’re not going to get rid of them – don’t worry.
Here are the previous versions:
Downloadable PDF: Skint Dad 1p Challenge
Downloadable Excel doc: Skint Dad 1p Challenge
Backwards 1p saving challenge
Do you think you’ll find it too hard to save the larger amount of money in December?
With Christmas looming having extra money to save could be a bit tough for some so, by popular demand, I have turned the whole savings template backwards.
This means you’ll start by saving £3.65 on day one, £3.64 on day two and by the last few days you’ll be putting away just pennies.
Undated to use at any time of the year
Downloadable PDF: 365 Backwards 1p Saving Challenge
Downloadable Excel doc: 365 Backwards 1p Challenge
365 pennies – saving weekly
Saving daily will get harder as each day goes on (does anyone have that many coppers?!)
Instead, why not try this adapted version (plus this only takes one page to print). Depending on how much you’ve got spare each month, this may be a bit hard when you reach the final weeks. The last month you need to save £101.79 to hit the target.
Downloadable PDF: Penny Saving Challenge Weekly
Downloadable Excel doc: Penny Saving Challenge Weekly
Save £650 – for the budget conscious
Saving money can be tough!
If you don’t have a ton of extra cash left after paying all the bills, putting anything away can seem like a real stretch.
If you have a tight budget I know just how difficult it is to have changing amounts coming out of my bank each week. As saving can prove difficult, how about just saving the same amount each week instead – you’ll still achieve a £600 saving!
I think this can be the easiest one to do. I know the idea of saving with a 52-week challenge looks quite fun, but saving the same amount is far easier in terms of budgeting and it’s easier to set up a standing order.
Downloadable PDF: Save £650 a year
Downloadable Excel doc: Save £650 a year
Blank template – 52 week saving challenge
If you want to save more or less each week then you don’t have to do the amounts I suggest. Instead, use this template 52 week saving challenge crib sheet and enter your own figure.
The balance will work out your annual savings amount for you.
Downloadable Excel doc: Template 52 week saving challenge
Easy money saving
The 1p savings challenge isn’t for everyone.
Instead, save your money with the Chip app.
Chip works out how much you can afford to save, without leaving you skint.
Find out more in our Chip review.
Remember, each image can be opened as a PDF for easy printing or you can download them for free as a spreadsheet. If you’re worried about downloading the documents please contact me and I’d be happy to email you the document instead.
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- How to Save Money When You Live Paycheck to Paycheck
- Start an emergency fund
Don’t just think of these saving goals as something you need to start on 1st January as a New Year resolution, or even on the first of any month.
There are no dates on some of the charts and they have been left off on purpose.
This then gives you the option to start them on any day, week or month that suits you.
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Wendy Tolhurst says
Wow – I have not seen these methods of saving before. Being someone who is always short of money, I would really like to try this. Having just had our car die today, and my husband thinking it is irreparable, we are going to be in even worse debt now as I am housebound without a car so we will have to borrow some money to replace it. I agree with you about finding it easier to save the same amount each week and will sort it out from pay day to start my saving £12.50 per week.
Ricky Willis says
Oh dear for your car. I hope it’s sorted now?
My wife is doing a weekly transfer as well – looking forward to some good savings at the end of the year.
Anonymous says
I have been doing this for the last 4 years it is a great help near christmas
Mrs Tubbs says
This is such a good idea! I’m going to give it a try! :)
Ricky Willis says
Good luck with it :-)
Zoë says
We have a jar that we put any coppers and 5 pence pieces into….even my children do it. Then twice a year we take it to the supermarket and tip it into one of the machines that will then give you a token to spend that day in the supermarket. Even though these machines knock a few pence off (why would it be a free service after all ?!) it gives us a ‘family treat voucher’…..this Christmas we got Skyfall on DVD and snacks to go with it….a free film night at home !! My children enjoy the fact that saving pennies = great fun spending the voucher in the supermarket.
Ricky Willis says
That’s a lovely treat and great that your children get involved.
Remi Badozi says
This is awesome and a great way to get the young ones to save. Thanks for sharing!
Ricky Willis says
No worries :)
OMGitsagirl says
Great idea.
I’ve thought of a way to avoid the large saving month in December.
My partner orders from a Christmas hamper company. They begin in November.
If you start with week 1 as the first week in December then your last week will be end of November.
A nice 650 for Christmas or saved in the bank. The new challenge then starts with the lowest amounts in December.
Ricky Willis says
Perfect. You can really start this at any point in the year and staring a bit later can mean that you can cash out early (and have time to use it for shopping in December)
Lin says
Every day I empty my pockets of small change 1’s, 2’s and 5’s and put it into a money box. Every few months I bag it up and take it to the bank and put it into our ’emergency’ account. Just calling it an ’emergency’ account means we are less likely to waste it. Over the years this has paid for short holidays or days out.
Ricky Willis says
It is a good way to save and it’s amazing how quick a few coppers can add up! :-)
Ricky Willis says
Both are great ideas. I think getting all the family involved (and working to a joint target) gets everyone more bought into saving.
Ricky Willis says
Sounds like the perfect plan!
Ricky Willis says
Fantastic – the savings will really help for your trip! Well done for keeping at it :)
Ricky Willis says
Wow – well done! By the time you hit December you’ll be flush! :)
Joanne Massiah says
I have just started this with my hubby as didn’t have christmas in mind, just general saving. We are taking it in turns daily to contribute. As I realised that the last weeks of this would be challenging I decided to do it a little differently – I printed a list off of the days i.e. 1-365 and we put in whatever we feel like and cross off the amount put in (e.g. I put in 10p the other day but today I put in £3.17. The only rule is you have to put in an amount that hasn’t yet been put in (hence crossing them off the sheet). End amount of £667 is achieved, it’s just spread out better over the year.
Ricky Willis says
That’s a good idea. The weeks you’re more flush you can save more and you can save less during the skinter weeks.
Sandra McInnis says
I’ve saved using Skint Dad method for 2 years now. I save monthly, this year August to July. The first month I look at how many days are in the month I am starting. August 31 days, looking at chart £4.96. September 30 days, £18.91-4.96=so I save £13.95 for September, TOTAL AMOUNT SAVED £18.91.
Love it.
Ffion Hilliard says
This Is soooo clever! I am so glad i came across this on Pinterest and i might even pin it myself! Although i am just putting more than just 1p a day, as i started late in the year, but i record it as if i have e.g if i put 10p worth of pennies i would mark of 10 days and possibly save a little extra!
Alison Dent says
just to say I’m still going with the penny challenge. I stopping on 30th November as what I have saved will still be enough to get through Christmas. I then plan to start again on 1st December but might do it in reverse!
Ricky Willis says
Whoo hoo!! Well done for getting so far.
Bet all that extra savings feel great :)
Ricky Willis says
Wow!! Amazing Linda, well done!
It’s great how the savings add up. Wonderful that you’re giving it a go again this year :)
Elaine says
I Have been doing this for 2 years now. The first year I bought some new glasses, and this year , a new back bumper for my car and the rest, Christmas presents. I have just started again, from December 1st. It’s a great way to save. When it starts getting tough, I put the whole weeks amount in on payday.
Naomi Willis says
It’s great to have a little pot of savings there to fall back on. I know it’s rubbish having to break into it, but I wonder where we’d get the money from in the first place if we didn’t have our 1p savings jar!
Really glad you’re starting in year 3 :)
Neil says
Last year I used a similar approach to the 52 week challenge. The method I did was to save £1 on Monday, £2 on Tuesday up to £7 on Sunday. Thats a total of £28 a week. By the end of the year I had saved just shy of £1500!
Naomi Willis says
Awesome! Well done for keeping it up! That’s great savings
Neil says
Thanks. I wont lie it is difficult to stick to, but I’ve saved more this year, due to the lockdowns and not being able to go out etc.
This plan is not my idea, but I called it the money ladder. Next year I plan on altering it from 7 to 10 days. So instead of Monday to Sunday being 7 “rungs”, so to speak, I’m going from day 1, to day 10, so adding £1 every day until the 10th day, then starting a new ladder. I’ve estimated if I am able to stick to it ill save £2k. That’s the plan anyway!
explained this so well, my kids could understand. says
I have been searching via forums to locate some useful resources for my kids. You guys have done so well. Great job, and I can’t wait to see more. I will be subscribing to your post.
Rachel says
This is such a fab idea, I’m a bit behind but I’m going to start doing this from today. Last Christmas was a real financial stretch for us and this would totally take the worry away.
Naomi Willis says
Welcome to the savings club :)
GreenDollarBillsGirl says
I did this a few years ago; it’s a great way to save! I find the weekly set amount easier to keep track of, rather than working out the pennies every day – although it is a great way to get rid of loose change that way! I started at New Year, which meant I could count it as a NY resolution and actually stick to it! It covered the cost of Christmas too, which meant by the time January rolled back around I didn’t have to dread being broke for once!
Fleur says
Thank you for the free printable – I’ve been doing this for the first time this year and keep losing track when I forget to put the pennies in first thing in the morning. It’s a great way to remind me every day to stop frittering away small amounts of money.
Stephen C says
Hi Ricky,
I live in Singapore we use the Singapore Dollar – 10 cents to one dollar – how can I make this work for me?
Naomi Willis says
Hi Stephen, you could use your lowest denomination of coins and build up each day in a similar way.
Carol Piper says
I may be a bit dense but if you are hard up, how do you manage to put the daily amounts away once they get to the £2 to £3 a day, that’s a lot in a week for someone who has no money. Am I missing something?
Naomi Willis says
My favourite way is to do it a bit like bingo. When I have spare change, I add up what I’ve got and tick off the higher amounts first.