Compare savings accounts
Find the right savings account for you using the service provided by Experian Ltd
Compare and chooseBy clicking a retailer link you consent to third-party cookies that track your onward journey. This enables W? to receive an affiliate commission if you make a purchase, which supports our mission to be the UK's consumer champion.
6 savings challenges to start in 2026
From the 1p challenge to going cold turkey, we round up easy ways to kickstart a savings habit in the New Year
After an expensive Christmas, many households will start the new year feeling stretched. Taking on a savings challenge can help you get your finances back on track.
For example, you could start saving with as little as 1p and gradually build a pot worth over £600 after a year. Or you might want to try sticking to basic spending for a month and put the money you would have otherwise splurged in a savings account instead.
Here, we explain how these strategies work and run through easy ways to save in 2026.
1. The 1p savings challenge
The 1p savings challenge can help kickstart a savings habit and involves putting away just 1p on the first day, then adding another penny to what you save each day. So, day two is 2p, day three is 3p, and so on. It means if you started on 1 January, the total amount saved by 31 December would be £667.95.
But where do you stash the cash each day? You could put physical cash in a jar or piggy bank, but that pot would start getting full fast and it's not very secure. A savings account is the obvious solution. Not only will your challenge money be secure, you'll also earn interest on the money you deposit.
Instant-access accounts that allow you to deposit and withdraw cash whenever you like are your best option. And some let you get started with nothing at all.
Monzo offers an automated version of the 1p savings challenge, so you don’t have to remember to move money across each day. It’s available to customers on its Extra, Perks or Max paid plans.
This table shows the top instant-access deals that don't require a minimum deposit. Results are ordered by rate and exclude products that impose restrictions on opening or withdrawals:
| Instant-access account | AER |
|---|---|
| Plum Easy Access Savings Pocket | 3.2% |
| Tandem Bank Instant Access Savings Account | 3.15% |
| Atom Bank Instant Saver | 2.5% |
| Chase Saver | 2.5% |
| State Bank of India Instant Access Savings Account | 1.5% |
Source: Moneyfacts. Correct as of 22 December 2025, but rates are subject to change.
Be aware that you can find instant-access rates as high as 5% AER, but you'll need to be prepared to deposit at least £1 to open.
- Find out more: best savings account
2. The 365-day challenge
This is very similar to the 1p savings challenge, but instead of starting with a penny, you put aside £1 on Monday, £2 on Tuesday, £3 on Wednesday and so on, all the way up to saving £7 on Sunday. When Monday comes around again, you rinse and repeat, restarting the process at £1.
This gives you a weekly total of £28 and an annual savings pot of £1,456, plus any interest you might earn in a savings account.
- Find out more: best cash Isa rates 2025
3. The 52-week challenge
This challenge spreads saving across the year, with one payment each week rather than small daily amounts.
You start by saving £1 in the first week of the year. In the second week, you save £2, in the third week £3, and you keep increasing the amount by £1 each week. By the final week of the year, you put away £52.
Because you’re saving a different amount each week, the total adds up to £1,378 by the end of 52 weeks, before any interest you earn on the money.
- Find out more: how to budget
Get a year of super-useful advice
Get the best deals, avoid scams and grow your savings with expert guidance all year for only £36.75 – that’s 25% off.
Join Which? MoneyOffer ends 8th January 2026
4. 'No-spend' month
If you overspent during the festive period, you could try going cold turkey with your purchases for a month. This means only buying essential items and putting any money you might have used on a few luxuries into a high-interest savings account.
For example, skipping a £15 takeaway on weekends and a £3 coffee each weekday could save you around £120 over four weeks.
5. The 30-day rule
This is a variation on the 'no-spend month' challenge. It involves waiting 30 days before purchasing anything non-essential.
After that, if you still want it, then you can consider buying it. This helps you to differentiate between wants and needs and avoid impulse spending. Again, money saved as a result can be invested in a savings account.
- Find out more: best bank accounts for cashback
6. Round up spending
Many banks offer a feature that automatically rounds up your debit card or contactless payments to the nearest pound and sends the spare change to your savings account.
For example, if you buy something that costs £19.30, then it'll be rounded up to £20, with 70p put aside in savings. It may not sound like much but, if you’re doing this for every transaction, it can really start to add up.
