How to Save £667.95 in 2025 with the 1p Savings Challenge

The Derbyshire Community Bank 1p Savings Challenge

Planning for a stress-free year just got easier. With our 1p Savings Challenge, you can build up your savings fund one penny at a time.

Here’s how it works:

• Start small, grow big: On Day 1, save just 1p. On Day 2, save 2p, and so on, adding an extra penny each day.
• Keep going for 365 days: By the end of the challenge, you’ll have saved a whopping £667.95!
• Option to Lock it and forget it: January 31st, 2025, transfer your funds into our Christmas Savings Account, where they’ll be securely locked until October 1st, 2025. This ensures your money stays safe and kept away for Christmas!

Why join the challenge?

• Stress-free savings: Avoid debt by building your savings gradually.
• Safe and secure: Funds in your Christmas Savings Account can’t be accessed until they’re needed most.
• Fun and easy: Track your progress and feel the satisfaction of watching your savings grow.

Tips to Get Started

• Print or download the challenge tracker. We’ll provide a handy template to keep you motivated.

Set a reminder. Save at the same time daily to build a habit.

What if I didn’t start right at the beginning of the year?

You can simply catch up by adding together the totals of each day you missed – so if you joined in on 5 January, you could put 15p in your pot, then save 6p the following day. Likewise, if you started on 20 January you could add £2.10 on your first day, and then resume the challenge as normal on 21 January, when you’d save 21p. You could also save the monthly amount only if you can afford to do so at the end of each month.

What’s the best way to save money? 

• The Classic Cash Method – Save with a Jar

If you use cash, the challenge is traditionally done by putting loose change into a piggybank or sealed jar each day.

• The Modern Way – Online Transfers

Manually transfer the cash into a savings account via online banking, in small amounts if your bank allows, or monthly amounts. You’ll need to check first if your bank lets you transfer small amounts.