The Easiest Savings Challenge You Can Start Today

easiest savings challenge, image showing a pile of loose change bagged up ready to go to the bank

What is the Easiest Savings Challenge?

It’s the start of a New Year, so how about starting an easy savings challenge.  Try the easiest savings challenge as I did during 2017.  I saved £61 by doing nothing more than throwing my loose change into some jars and forgetting about it until the end of the year.

Saving my Change

In April 2017 I used some empty containers to begin collecting my change.  I wrote all about it here.  This all started because I’d had a new purse which didn’t hold much in the way of coins and I had to keep taking all the loose change out of the purse.

Savings Jars

I could have used just one large jar but I decided to use a number of jars.  This is because I’m a little bit lazy and didn’t like the thought of having to sort all the change I had saved.  I could have used those change machines you get in supermarkets but as I am trying to save money I didn’t want to be giving any of it away.

Loose Change

I saved 1p coins in one coffee jar, 2p coins in another coffee jar, 5p coins in an empty plastic jar along with 10p and 20p coins (although these were kept in individual coin bags inside -  again to save any sorting!) and another pot with 50p coins.

Savings

I have been quite surprised at how many coins I have accumulated over the last 8 months.  I've even had to use some of the coins through the year.  We took out some for a trip to the seaside for the boys to use in the arcades and I have had to dip into it for change for bus fares on occasion too.  I usually cycle to work but I was poorly during the Summer and too ill to cycle for a couple of weeks and again recently when it snowed I couldn’t cycle and then I caught a cold which went straight on my chest again, so I couldn’t cycle for a few days and this meant I needed change for the bus.

The time has come to empty my jars, count up the coins and take it to the bank to add to one of my savings goals.  Here’s how much I managed to save:

50p = £14

20p = £20

10p = £7

5p = £11.55

2p = £4.74

1p = £3.71

A GRAND TOTAL of £61

Banking the Money

Not all of it can go to the bank as it needs to be bagged up in to the correct denominations and amounts.  All together I have £51 ready to be taken to the bank.  The remaining £10 (which is made up of small amounts of each coin) will be staying in the jars and I will add this in to next years savings.

Easiest Savings Challenge for 2018

I am really pleased with the amount I have been able to save.  I think I will add this in to my savings towards Project Kitchen (post coming soon)as this is a nice little boost.

The jars are going back and I will definitely continue to add my change throughout 2018.

Do you save your change?  How much did you manage to save this year?  Does anyone use a sealed jar to prevent you dipping into the change throughout the year?

Why not pin this for later?

easiest savings challenge, image showing a pile of loose change bagged up ready to go to the bank

2 Comments

  1. Avatar

    i do this with my children too.
    i read about transferring any money in your bank account under £5, say you have 34.96 then you transfer 4.96 to a savings account. done it a couple of times so far. it does add up.

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