1p savings challenge

dinosaur66

if only when i was a young boy every time i got a penny i saved it instead of buying 4 blackjacks

Time4T_Accounts

dinosaur66 said:

if only when i was a young boy every time i got a penny i saved it instead of buying 4 blackjacks

Out of pure curiosity … with some appropriate estimation of consumption of said blackjacks, and of interest rates / stock market returns , what would your spending have turned into today if you had saved those pennies …?

dinosaur66

not a lot

one of my brothers would have found it and spent it on 4 mojos

JBW333

I started the 1p Challenge on 1/1/25 but I’m doing it in reverse as January and February are my ‘cheapest’ months.  And it’s going into a savings account so will generate a bit of interest too 😁

arthurdick

dinosaur66 said:

if only when i was a young boy every time i got a penny i saved it instead of buying 4 blackjacks

Ha, 4 Black Jacks for a penny, I am sure I remember getting 16 Blacks Jacks or Fruit Salads or even Mojo's for a brand new one new penny around1970/71. 
I think the interest I get on my R S's each month would only buy a few now.

Rudyson

arthurdick said:

dinosaur66 said:

if only when i was a young boy every time i got a penny i saved it instead of buying 4 blackjacks

Ha, 4 Black Jacks for a penny, I am sure I remember getting 16 Blacks Jacks or Fruit Salads or even Mojo's for a brand new one new penny around1970/71. 
I think the interest I get on my R S's each month would only buy a few now.

If only. That was the biggest decimalization rip off, they went from being 4 for an old penny to 4 for a new penny overnight, a 140% increase.

arthurdick

Rudyson said:

arthurdick said:

dinosaur66 said:

if only when i was a young boy every time i got a penny i saved it instead of buying 4 blackjacks

Ha, 4 Black Jacks for a penny, I am sure I remember getting 16 Blacks Jacks or Fruit Salads or even Mojo's for a brand new one new penny around1970/71. 
I think the interest I get on my R S's each month would only buy a few now.

If only. That was the biggest decimalization rip off, they went from being 4 for an old penny to 4 for a new penny overnight, a 140% increase.

Ha, I must have had a Shilling then, got my Black Jacks and a Bazooka Joe, but for some reason it always stuck in my head it was a penny.

2 Bob was a great lot to have on a Saturday morning, sweets and then go the pictures.

Savvy_Sue

Jami74 said:

kipsterno1 said:

Enough to buy a calculator and work it out for yourself.

Not everyone has the ability to just know how to do those sorts of calculations. Yes, yes, I'm sure it's basic GCSE maths, but some people literally don't have the right sort of brain power. Thankfully there are nice forums like this one where people can ask.

And some of us did our 'O' levels so long ago and have never needed such a thing since that we can hardly be expected to remember ...

I did a quick 1+2+3 thing on my calculator, and thought "flippin' 'eck, that's a lot by the end of January!" Then found the actual thread about it, and realised I'd failed to put the decimal point in.   

anna2825

bestoffer said:

Started the 1p savings challenge today in two accounts but wondered if anyone knew how much one would save in a year by doubling up each day , ie. 1p,2p,4p,8p and so on.

£671.61 according to Martin Lewis :-)

grumpy_codger

anna2825 said:

bestoffer said:

Started the 1p savings challenge today in two accounts but wondered if anyone knew how much one would save in a year by doubling up each day , ie. 1p,2p,4p,8p and so on.

£671.61 according to Martin Lewis :-)

No, he suggested "plus a penny more each day", not "double"