The 365 Day 1p Challenge 2023

The_JinJ

Can you add me to this please

BlueJ94

could I join please

Anna_v

Anna_v number 54. I have done January= £4.96 and February= £12.74 Total of £17.70.
Thank you and Happy New Year to everyone.

enthusiasticsaver

Here are the numbers for the new joiners.  Spreadsheet has been updated.

66	fishcakes
67	The_JinJ
68	BlueJ94

enthusiasticsaver

mark55man said:

enthusiasticsaver said:

MsMoon said:

I see that there is a calculation above for the monthly amount. Does anyone have the weekly amount if I started with 1p on the 1st Jan as I would like to transfer it weekly into my account rather than monthly?

I don't have the weekly amount I am afraid so you will need to add up the 7 numbers for each day as you go.  There probably is a formula for it somewhere but it is easy enough to add up just the 7 numbers  so I will do that as we go if that helps? This assumes you are starting with .01 on 1st January. 

Week 1 will be 28p
Week 2 will be 77p 
Week 3 will be 1.26
Week 4 will be 1.75

Week 5 will start on 29 January. 

Tried to work a formula out but that got complicated, then I looked for patterns and doh! there is quite a simple one. 

Basically you pay 7p more on each day than the previous week.  So each week is 49p  (7 x 7p) more than the previous week.  So just look at your previous weekly payment and add 49p to it.

So week n will be 28 + 49(n-1)

or more simply

Week n is - 49n - 21 or  7*(7*n-3)  

That is useful.  Thanks very much @mark55man.  I knew there must be an easy way of working it out.  

Mitzireads

Hi! Can I please added!

Many thanks!

enthusiasticsaver

Mitzireads said:

Hi! Can I please added!

Many thanks!

I have added you to the list.  

You are number 69. 

Hurdler

Please add me to the list - going to the end of the year.
My approach is to save £55.66 a month.

In the finest MSE tradition, I have 'pots' accounts - one for a £70 cash allowance, one for 'treats'. 
I take £70 a week in cash and anything left over is put into my 'Treat' account for takeaways, meals out, golf driving range top ups etc.

I transfer £55.66 a month out of my treat account to a savings account and this year I was going to use the money to just boost my buffer, but a friend is organising a golf holiday for my birthday, so my savings paid for that, so very happy indeed!

And thank you for volunteering to run the thread! 

CKhalvashi

CKhalvashi said:

enthusiasticsaver said:

CKhalvashi said:

I'd like to join too please, but on a £1 additional income rather than savings

It'll hopefully give me an opportunity to get off my backside and do something different this year as I've been playing with a lot of ideas in my head and not done anything with them for the last few months

That is fine.  I have set your challenge amount as £365 then rather than the usual amount of £667.95 for the year.  Is that right? 

Sorry ES, I was referring to £1 first day, £2 second, but this may have to be updated monthly/quarterly depending on how often I can be bothered to throw management accounts together.

Lets have a go at net profit, I'm referring to a new business venture. Total should be £66,795 for the year but due to the plan in progress will be split between 2 (possibly 3) currencies. I'll use official exchange rates at 1st of the month for that.

No financial update yet (too early to do any chasing), but a separate business account (under the umbrella of a dormant-ish company I already own) to collect payments for this particular project has now been opened and I'm going to be calling a lawyer shortly for the legal stuff at the other end which should hopefully take less than a week to process.

Most important after that is chasing a number of prospects and dealing with a UK membership body, which should actually be the easy part.

MrBruceMan1

Hi i'm new!

This has drawn me in and id love to be added please.