The MoneySavingExpert (MSE) website says that anyone can take part in the challenge – no matter what their income. It’s a great money-making tip to start off the New Year.
Although it’s best to start on January 1, it’s not the end of the world if people begin a bit later.
The MSE website says: “You can simply catch up by adding together the totals of each day you missed – so if you begin on Wednesday, January 20, you could add £2.10 on your first day, and then resume the challenge as normal on January 21, when you’d save 21p.”
Lots of Britons love this challenge which can work for people on low incomes too.
On the MSE website, it suggests: “Alternatively, you could reverse the order if you’re feeling unexpectedly flush, so you start by saving £3.65 on January 1, meaning you’ll only have to put aside 1p on December 31.”
Another Martin Lewis fan, Dan Wain said he started early so that he can ensure the money saved is ready for next Christmas.
“I’m having a go at this myself but rather than starting in January, I started on December 1 so that I complete the saving at the end of November.
“So that I have the full amount saved ready for Christmas.”
For anyone else who thinks this is a good idea, they could catch up by putting away one month’s savings which is £4.96 for the first month.