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Look after the pennies, and the pounds will look after themselves

– Proverb

Money and time are similar. It is as easy to while away minutes as it is loose change, but before long those minutes have become hours, and that loose change has become pounds. Weighing up how you spend every minute of your time sounds stressful, and employing your own PA is expensive, luckily your finances are easier to manage.

Saving made easy

For many people saving requires effort, because delaying gratification goes against human instinct. You may feel like you don’t have enough money to put away. But, truth is you can make saving big achievable by stashing away a little cash, over a longer time.  

What’s the trick?

If the obstacle to saving is worrying about the amount you have to put away, then the solution is to save the smallest possible sum, or in this case – 1p. If you can save 1p today, then you can probably save 2p tomorrow. And 3p the following day. Bear with me here… 1p is not a lot of money. 2p is not a lot of money. 3p is not a lot of money. But, by increasing the amount you save by 1p each day, after 30 days you will have saved £4.65. In six months you will have saved £162.90. And, by the end of the year, you will have amassed a mighty £667.95. The maximum you will have saved in any single day is £3.65! Check the maths here.

Make it Easy

If you bank online, you may be able to set up a transfer from one of your accounts to another, increasing the amount by £0.01 each day. By automating the transfer you can make saving a large amount attainable, with very little effort. Alternatively, you can transfer the amount manually, either through online banking or using a trusty piggy bank.

The Twist

You can turn this idea on its head by starting with the largest sum, save £3.65 on day one and work backwards. Try this 1p challenge and stick to it. You’ll be surprised to see the amount you’ve gathered by the end of next year. If you need tips to motivate yourself to get started, watch our Savings pathway.


  1., 2018