Total debt when my journey began in December 2022- £66,133.42
Current debt May 2024- £40,064.57
Repaid 39.42%
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The 365 Day 1p Challenge 2022
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outoftheviciouscircle
Posts: 793 Forumite
Hello everyone.
I started this challenge under the username helejenkins1 3 years ago. Unfortunately due to circumstances like not being fully committed to reducing my debt or saving, I didn't see this challenge the whole way through but decided that I wanted to start this challenge in 2022 back in October when I started making positive steps forward to getting rid of my debt.
The challenge has actually become quite famous, I've seen a number of articles online about it and I hope it can go on and help other people in the future.
So, how it works.....
The idea is that on the 1st January you save 1p, on the 2nd you save 2p, right on until December 31st when you save £3.65. Immediately you can see that January is a very easy month to complete but by December it can become very expensive. This is why people choose to do this challenge in many different ways. Some opt for doing it backwards, some aim to split the total by 12 so save equal amounts every month or some, like me have a spreadsheet where I highlight random amounts as and when I have them.
By the end of the challenge you should have saved £667.95.
If you want to sign up then comment below and I'll get this organised .
I started this challenge under the username helejenkins1 3 years ago. Unfortunately due to circumstances like not being fully committed to reducing my debt or saving, I didn't see this challenge the whole way through but decided that I wanted to start this challenge in 2022 back in October when I started making positive steps forward to getting rid of my debt.
The challenge has actually become quite famous, I've seen a number of articles online about it and I hope it can go on and help other people in the future.
So, how it works.....
The idea is that on the 1st January you save 1p, on the 2nd you save 2p, right on until December 31st when you save £3.65. Immediately you can see that January is a very easy month to complete but by December it can become very expensive. This is why people choose to do this challenge in many different ways. Some opt for doing it backwards, some aim to split the total by 12 so save equal amounts every month or some, like me have a spreadsheet where I highlight random amounts as and when I have them.
By the end of the challenge you should have saved £667.95.
If you want to sign up then comment below and I'll get this organised .
5
Comments
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1. outoftheviciouscircle - £11.57
2. Hurdler
3. Honeysucklelou2
4. IntoTheForest
5. jaxmar
6. Dolly94 - £8.61
7. Blackberrycurved
8. Claremylove - £105.15
9. srmlac - £4.96
10. savvylondoner
11. Smurphy1
12. starla
13. CazzieLT - £3.65
14. Auti
15. grunnie
15. Freeasabird77 - £0.77
16. Veebree - £4.96
17. Dairydodger
18. AngieMcKPz
19. Shell16
20. lindy5476Total debt when my journey began in December 2022- £66,133.42
Current debt May 2024- £40,064.57
Repaid 39.42%3 -
Please sign me up for this year’s challenge and thanks for starting this year’s challenge!
- Mortgage @ March 2008: £194,965 ; Lightbulb Moment: July 2011: £164,926; End Date: March 2033
- MORTGAGE FREE: September 2015
- MSE 1p Savings Challenge 2024 #50: Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec = £223.84/£671.61
2 -
Yes please, count me in for the challenge!paydbx2025 #26 £890/£5000 . Mortgage start £148k June 23 - now £138k.
2025 savings challenge £0/£2000 EF £140. Savings 2 £30.00. 170 -
Can I join you? I already take part in the sealed pot challenge but only include cash leftover from my grocery shops. I will back transfer into one of my saving accounts.SPC #046 2021- £293.26
Make £2022 in 2022 #35 £10/£20220 -
Thanks can be included again I'm not sure if your starting fresh or using old number's from last year I was no13. Of course what ever is easiest for you. Thank you for setting this up I succeeded last year's challenge so glad I participated.Penny wise pound foolish. 366 days 1p challenge 2020/21/22/23 completed.
No.13 1p a day challenge 2024
No. 24 52 week savings challenge completed August 24
No.16 1p a day savings challenge.0 -
Please can I be included in this challenge. I have printed off the challenge sheet and am going to randomly pick an amount every day. Have already started with £2.76.PAYDBC24 #8 ~ £10188.210
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Can I join please join Number 12 last year but will be any number. I'm printing off a sheet and starting today a physical pot for me.DF by 2023 No 17 £1,644 /£6000 Total debt £18,000 at the start of DFW Journey. 201814TH JULY 2021 DEBT FREE now in control365 1p challenge No 491
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Can I join, please? I'm doing it starting with the most expensive £3.65 because I stopped doing it last year in June with the most expensive days and months ahead of me. I was doing it on my own so lacked backup.Credit card One :£926.60( Oct 21 )(Nov 21 vet bill disaster), £999(Jan 22), £974(Feb 22)
Credit Card Fl :£739.26 (Oct 21)£763 (Nov 21) , £590(Jan 22), £298(Feb 22)
Savings target C.U. £1000(£410 Oct 21)(£610 Nov 21)
Savings target Bank £500 (£10 Oct 21) (£50 Nov 21)(£60 Jan 22)(£80 Feb 22)
Credit Union loan paid off. Now for the funeral plan...1 -
I have updated the challenger list, maybe in a few days after a few more people have joined then if you want a particular number then we can sort that out. How does that sound?Total debt when my journey began in December 2022- £66,133.42
Current debt May 2024- £40,064.57
Repaid 39.42%1 -
Fine whatever is easiest for you really appreciate it.Penny wise pound foolish. 366 days 1p challenge 2020/21/22/23 completed.
No.13 1p a day challenge 2024
No. 24 52 week savings challenge completed August 24
No.16 1p a day savings challenge.0
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