The 1p savings challenge is a great way to teach children how saving adds up over time.

You start by saving 1 penny on day 1, then increase the amount by 1 penny each day:

Day 2 ⇒ 2p
Day 3 ⇒ 3p
…
Day 365 ⇒ £3.65

It works best if each day’s amount is added to a clear jar. Because the daily amount slowly increases, it feels easy at the start but builds momentum over time.

By the end of the year, your child will have saved a whopping £667.95.

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