'A penny a day' saving game 2016

Malthusian

Archibald wrote:

I don't have a jar either.

Then save your pennies in an old sock, after 9 days you'll have enough to upgrade to a jar of Sainsbury's Basics Mayonnaise 500ml.

WARNING: Do not eat all the mayonnaise.

lippy1923

Malthusian wrote: »

Then save your pennies in an old sock, after 9 days you'll have enough to upgrade to a jar of Sainsbury's Basics Mayonnaise 500ml.

WARNING: Do not eat all the mayonnaise.

WARNING: Do not eat ANY of the mayonnaise

freezspirit

There is also the 52 week challenge, week one you save either £1 or £52, week 2 £2 or £51 etc depending which order you want to save anyway after week 52 you would of saved £1378.

Broken_Biscuits

lippy1923 wrote: »

WARNING: Do not eat ANY of the mayonnaise

Wouldn't the coins go a bit funny if left for most of a year in a full jar of mayonnaise? Especially if they had been marinating for a month in an old sock first.

ChesterDog

Why not put each penny into an account earning 1%, and by the end of the year you've made 365%!

Sorry, 366.

:-)

lawriejones1

I save all my £2, 1p, 2p, 5p and 10p coins. Mostly because I don't want the coins jingling around
[post edited by forum team due to being potentially offensive]

I always have enough for Christmas and I never worry about finding bus fair if I need it.

Lakeuk

I read about this and similar concepts on one of skint dads recent blog posts. Think it's a good challenge but I personal would tweak a few things, too difficult for me :-

• Ending in December will be the month likely to have the least available cash being lead up to Xmas, I would start in December ending in November so Dec/Jan are not too bad.
• Putting change away each day would be become too much of a chore, I doubt I would be able to find the right change and would probable miss days or intentionally carry forward. Weekly/monthly seems to make better sense for me.
• Lastly the doubling concept makes it dead easy at the start but mega difficult at the end, while a simple equal split can be the most manageable I understand the benefit of doubling makes you think and gradually find savings to meet the goals which should stick long term, but I'd like to increase what's saving at the start so less it needed at the end so more manageable- could to with an excel spreadsheet to work it out

http://skintdad.co.uk/2016/01/skint-52-week-saving-challenge/

theGrinch

like the tax system sounds expensive to administer

racing_blue

In the interests of efficiency, if someone was to transfer £676.21* to a savings account right now, would that still count? It would save fiddling with all those pennies.

(*Or £669.59 to ChesterDog's 1% interest account, or £184.77 to his special 366% interest account)

Malthusian

In the interests of efficiency, if someone was to transfer £676.21* to a savings account right now, would that still count?

It would be a bit like me turning up at one of the council's Couch To 5k sessions - given that I've been a runner for 7 years. "Why are you podgers bothering with all this 2 minute run, 2 minute walk? Look at me, I can run 5k non-stop, I could do 10k or a marathon if I wanted. You're all rubbish at this."