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  • FIRST POST
    • helejenkins1
    • By helejenkins1 29th Dec 16, 11:03 AM
    • 149Posts
    • 1,037Thanks
    helejenkins1
    The365 Day Penny Challenge
    • #1
    • 29th Dec 16, 11:03 AM
    The365 Day Penny Challenge 29th Dec 16 at 11:03 AM
    A friend of mine has just started this challenge on Facebook and I thought it seemed like a fun way of saving.
    I have started this thread to keep me motivated but if anyone wants to join me then please feel free to do so and I will start a challenger list.
    Also if anyone knows of a simular challenge then please point me in the right direction as I have searched and can't seem to find one.
    The idea of the challenge is that
    Day 1- Save 1p
    Day5- Save 5p
    Day 100- Save £1.00
    Day 365 Save £3.65

    By the end of the year you will have saved £667.95.

    I am not going to save in order of the day as it will get quite expensive as the year goes on but will do it according to the loose change I have at the time. I have started a spread sheet and will shade in each amount I have saved.

    Looking forward to meeting fellow money savers


    If you haven’t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by Former MSE Jessica; 06-06-2017 at 3:18 PM.
    £10 a day challenge 2017 Jan 2017 £358.80/£310 Feb £285.00/£280.00 March £68.10/£310.00
    £1 per day £89/£365
    Virtual Sealed Pot Challenge #17 £77.71/£200
    365 Day Penny Challenge £530.84/£667.95

Page 2
    • barnez
    • By barnez 30th Dec 16, 10:05 AM
    • 30 Posts
    • 148 Thanks
    barnez
    Can I join please? I did this up until May last year, but needed the cash fr something and never got back on track again. Must do better this year!
    • Igamogam
    • By Igamogam 30th Dec 16, 3:09 PM
    • 5,391 Posts
    • 43,049 Thanks
    Igamogam
    I did this starting 1.1.16.........and it works Over £600 saved and stashed away with little effort. I rounded up or down each month and paid December 2016 with January 2016 to avoid a large amount being paid out now I will be doing it again in 2017.

    I wont be signing up to the challenge with you as I intend in 2017 to spend less time reading posts on this site. Time is as important to me as debt busting and saving

    Good luck to everybody doing the challenge!
    Be the change you want to see -with apologies to Gandhi
    In gardens, beauty is a by-product. The main business is sex and death. ~Sam Llewelyn
    'On the internet no one knows you are a cat'
    • mrshubbard
    • By mrshubbard 30th Dec 16, 3:23 PM
    • 175 Posts
    • 1,136 Thanks
    mrshubbard
    Have made a start and decided whatever goes in the pot I will also pay to my credit card the same day - just a small start with a 5p I found in a pocket 😄
    • helejenkins1
    • By helejenkins1 30th Dec 16, 4:40 PM
    • 149 Posts
    • 1,037 Thanks
    helejenkins1
    Post 10 updated. Good Luck everyone. Keep us all updated how you doing
    £10 a day challenge 2017 Jan 2017 £358.80/£310 Feb £285.00/£280.00 March £68.10/£310.00
    £1 per day £89/£365
    Virtual Sealed Pot Challenge #17 £77.71/£200
    365 Day Penny Challenge £530.84/£667.95

    • helejenkins1
    • By helejenkins1 30th Dec 16, 4:42 PM
    • 149 Posts
    • 1,037 Thanks
    helejenkins1
    Have made a start and decided whatever goes in the pot I will also pay to my credit card the same day - just a small start with a 5p I found in a pocket ��
    Originally posted by mrshubbard
    Thats a great idea and all them small pennies are going to count if we are to get to our target.
    Last edited by helejenkins1; 30-12-2016 at 4:43 PM. Reason: spelling error
    £10 a day challenge 2017 Jan 2017 £358.80/£310 Feb £285.00/£280.00 March £68.10/£310.00
    £1 per day £89/£365
    Virtual Sealed Pot Challenge #17 £77.71/£200
    365 Day Penny Challenge £530.84/£667.95

    • *Jellie*
    • By *Jellie* 30th Dec 16, 7:11 PM
    • 2,949 Posts
    • 13,357 Thanks
    *Jellie*
    I'm going to start on the first January. I popped '365 penny challenge' in a search engine and printed off a chart to keep track.
    January grocery challenge £52.28/180. January NSD 3/20.
    2017 Womble #9 £2.98
    Saving for Christmas 2017 #46 £50/ £520. 365 Day Penny Challenge in 2017 £10.64/£667.95. VSP 2017 # £0/500. SPC 10
    Stashbusting projects 3/365
    Crazy clothes challenge 2017 #12 £5/200
    • Kim_13
    • By Kim_13 30th Dec 16, 7:59 PM
    • 1,189 Posts
    • 1,587 Thanks
    Kim_13
    I'm going to start on the first January. I popped '365 penny challenge' in a search engine and printed off a chart to keep track.
    Originally posted by *Jellie*
    Didn't realise there were such charts and wasted time writing out all the numbers in the notepad on my phone. Doh! Definitely printing off though as it will be so much easier to keep track of with it all on one page.
    Sealed Pot 10 #520 ~ ~£66.55/£100
    VSP 2017 #9 ~ £41.40/£250.00
    CCCC 2017 #1 ~ £179.71/£120.00
    EF #170 ~ £500
    Xmas 2017 #25 ~ £5/£365
    365 Day Penny Challenge #4 ~ £17.31/£667.95
    • focus888
    • By focus888 30th Dec 16, 8:15 PM
    • 1,762 Posts
    • 4,132 Thanks
    focus888
    Can I join too please? this challenge sounds quite easy and fun.
    Saving for Xmas 2017 - #65
    365 Penny challenge - #16
    How Much Will You Spend in 2017 - #16
    • Queenofcolouringandtea
    • By Queenofcolouringandtea 30th Dec 16, 9:28 PM
    • 6 Posts
    • 56 Thanks
    Queenofcolouringandtea
    I can't post links but the Skint Dad Website has a good table on it.
    (And it seems quite a useful website - not as good as this one but interesting reading)
    “Being happy doesn’t mean that everything is perfect. it means that you’ve decided to look beyond the imperfections.” – Unknown
    • *Jellie*
    • By *Jellie* 30th Dec 16, 9:56 PM
    • 2,949 Posts
    • 13,357 Thanks
    *Jellie*
    Didn't realise there were such charts and wasted time writing out all the numbers in the notepad on my phone. Doh! Definitely printing off though as it will be so much easier to keep track of with it all on one page.
    Originally posted by Kim_13
    Sometimes spending time getting organisedfor a challenge can make you more invested in completing it so hopefull not time wasted.
    I've got 2 charts since I will not be doing the challenge in order. I printed one with 365 squares showing the numbers from 1 to 365 where I will colour the amounts as I save them. I will also make a daily note of what I put into savings that day- either in a diary/calendar or a new chart. I'll need to use a system or I will completely lose track!
    January grocery challenge £52.28/180. January NSD 3/20.
    2017 Womble #9 £2.98
    Saving for Christmas 2017 #46 £50/ £520. 365 Day Penny Challenge in 2017 £10.64/£667.95. VSP 2017 # £0/500. SPC 10
    Stashbusting projects 3/365
    Crazy clothes challenge 2017 #12 £5/200
    • mrshubbard
    • By mrshubbard 30th Dec 16, 9:57 PM
    • 175 Posts
    • 1,136 Thanks
    mrshubbard
    My hubby's decieded he's joining me and is crossing off on the same sheet so have also paid 55p to pot and cc today �� Not sure what we'll do as we'll prob finish it before 365 days - prob start again.
    1 debt vs 100 days -£100/£1600
    Debtfree by Xmas17 #161 £100/£3286
    365 day penny challenge - £94.14/£667.95
    NST - 3/16 NSDs £140.16/£250 food 0/£60spends
    Debts - CC1-£4438.89 £4393.72 CC2-4560.38 £4160.38 CC3-£10,326£10,155.85 CC4 - £3286
    • *Jellie*
    • By *Jellie* 30th Dec 16, 9:58 PM
    • 2,949 Posts
    • 13,357 Thanks
    *Jellie*
    I can't post links but the Skint Dad Website has a good table on it.
    (And it seems quite a useful website - not as good as this one but interesting reading)
    Originally posted by Queenofcolouringandtea
    I'll post the link for you.
    http://skintdad.co.uk/skint-52-week-saving-challenge/
    Thanks- there are a variety of useful charts for this including doing the challenge backwards and a blank one.
    January grocery challenge £52.28/180. January NSD 3/20.
    2017 Womble #9 £2.98
    Saving for Christmas 2017 #46 £50/ £520. 365 Day Penny Challenge in 2017 £10.64/£667.95. VSP 2017 # £0/500. SPC 10
    Stashbusting projects 3/365
    Crazy clothes challenge 2017 #12 £5/200
    • IrishRose12
    • By IrishRose12 30th Dec 16, 10:48 PM
    • 1,449 Posts
    • 6,210 Thanks
    IrishRose12
    Hi Irishrose, is there an existing challenge somewhere I don't know about as I would love to join to keep me motivated, otherwise I'll keep this thread going.
    Originally posted by helejenkins1
    NO not that I can recall as I would have joined it. I found out about this one on Facebook last year as one of my friends started it.
    We done ours a bit differently last year as we had 2 tins from January to July - one tin we started backwards, and the other one we started from 1p up. By the time it came to us going on holiday we had saved the full amount because we done it both ways.

    Then we done the same when we returned home only from August - December so we had a but less but still a lot.

    This year we're doing 2 tins again but from January until December, same thing - we're doing one from 1p and up and the other one will be from £3.65 down

    My friend found she couldn't afford to do the high amounts everyday so she wrote the amounts on pieces of paper and put them in a tub and picked out one each day. That was the amount she put into the tin that day then
    Pay all debt off by Christmas 2017 #57 £689.72/£1,500

    £1 a day challenge 2017 #66 - £160/ £365


    The 365 Day Penny Challenge #2 - £120/£650
    • Honeysucklelou2
    • By Honeysucklelou2 31st Dec 16, 1:01 PM
    • 256 Posts
    • 736 Thanks
    Honeysucklelou2
    Can I join this challenge please...off to find a suitable tin and utilise a diary to record amounts.
    • Doris17
    • By Doris17 31st Dec 16, 1:49 PM
    • 164 Posts
    • 570 Thanks
    Doris17
    Hello,
    Please can I join you in the challenge? :-)
    • Ladygrim
    • By Ladygrim 31st Dec 16, 1:55 PM
    • 731 Posts
    • 4,199 Thanks
    Ladygrim
    Hello all,

    Please can I join in too?

    Already put 10p in the jar

    LG
    working at this thing called life
    • Pickle_99_uk
    • By Pickle_99_uk 31st Dec 16, 3:56 PM
    • 95 Posts
    • 359 Thanks
    Pickle_99_uk
    I saw this on facebook and decided to do it too. Can I join in with you guys for some motivation?! I'm not doing it in order either. x
    • Pickle_99_uk
    • By Pickle_99_uk 31st Dec 16, 4:00 PM
    • 95 Posts
    • 359 Thanks
    Pickle_99_uk
    £2.98 so far!
    365 day penny challenge £95.16/£667.95
    • Doris17
    • By Doris17 31st Dec 16, 4:15 PM
    • 164 Posts
    • 570 Thanks
    Doris17
    Just moved £4.06 over to my saving account, which covers the first 28 days of the challenge. :-)
    365 Day Penny Challenge £4.06/£667.95
    PAYDBX 2017 - # £0/£14,000

    January NSD 2/15
    • 32b3in2013
    • By 32b3in2013 31st Dec 16, 5:05 PM
    • 2,014 Posts
    • 17,483 Thanks
    32b3in2013
    Evening

    I'm going to do this. There is a chart which helps you calculate each payment, but the payments peak in June, and then start getting lower again, so the end of the year isn't too expensive. It's set out in 3 month chunks too which helps me as I will be making the payments monthly.

    32b3
    SPC9 #125 - £816.85
    Jan 17 NSD - 1/15

    CCC 2017 #24 - £116/£300
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