Every January I launch this savings challenge to help people start their year right by creating great saving habits and to build a nice pot of money to create an emergency fund or to pay for "things" rather than borrowing from the banks or the credit union.
Loads of people get involved every year because it's simple to follow and easy to stick with as time goes by. There are 2 versions, the beginner where you can save €1,378 or the advanced to save €5,000 so there's an option to suit your pocket.
The classic challenge has you save €1 in week one, €2 in week two, €3 in week three, and so on. By the end of the challenge, you’re saving €52 in one week, and your total account balance is a total of €1,378.
If you need a harder challenge, try doubling up the 52-week challenge. Start by saving €20 in week one, €35 in week two, €45 in week three, and €125 in week four. Carry the pattern through, and by the end of the year, you’ll have saved €5,000.