We have created a savings challenge to help you to kickstart your savings. Did you know that 1 in 10 people in the UK have no savings at all and a third have less than £1,000 saved? While these statistics may seem alarming, we believe that saving is a habit that has to be learned, not something that you just 'happen' to be good at.
It takes 21 days to build a habit and 90 days to create a habit. With that being said, this savings challenge helps you to build up this habit by putting money away each day. Unlike other saving challenges, we have created three different levels - beginner, intermediate and advanced. These levels are to cater to different financial situations allowing it to be more inclusive.
Here are the amounts you'll end up with:
- Beginner: £56.25
- Intermediate: £112.50
- Advanced: £225
If you are going to take part in this challenge, it may be good to do it alongside someone else. Get a friend or family member involved who can act as an accountability partner as well as save up alongside you!
You can either choose to make the deposits daily yourself, set up a standing order or use apps to help you set aside your money, read here.
We have also created FREE resources for you to use during your challenge too, download yours here.
Be sure to use the hashtag #P2PSavingsChallenge so we can see how you're getting on and give you the necessary motivation!