The best way to do Martin Lewis-backed 1p financial savings problem in 2026

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Your assist makes all of the distinction. Learn extra For a lot of, the brand new 12 months is a time for a contemporary begin, making resolutions each private {and professional}. However some may be contemplating a monetary decision for 2026, whether or not that be spending much less or saving extra.

Yearly, extra individuals are taking over the ‘1p saving problem’ to assist them do exactly that, kicking off on the primary day of 2026.

The development rises in recognition yearly, serving to savers put away over £660 by the tip of the 12 months, which they might not even realise has been saved away.

The year-long problem works by saving 1p on the primary day, then 2p on the second day, 3p on the third day, and so forth.

By day 30, savers can have £4.64, midway via the problem they'll have £168.36, and by day 365, they'll have saved £667.95.

<img src="https://static.independent.co.uk/2025/10/07/10/01/Martin-Lewis-shares-six-digit-code-you-need-if-your-phone-gets-stolen.jpeg" srcset="https://static.independent.co.uk/2025/10/07/10/01/Martin-Lewis-shares-six-digit-code-you-need-if-your-phone-gets-stolen.jpeg?quality=75&width=320&crop=3%3A2%2Csmart&trim=0%2C56%2C0%2C55&auto=webp 320w, https://static.independent.co.uk/2025/10/07/10/01/Martin-Lewis-shares-six-digit-code-you-need-if-your-phone-gets-stolen.jpeg?quality=75&width=640&crop=3%3A2%2Csmart&trim=0%2C56%2C0%2C55&auto=webp 640w" loading="lazy" alt="The 1p savings challenge has been backed by Martin Lewis’ Money Saving Expert team" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

The 1p financial savings problem has been backed by Martin Lewis’ Cash Saving Knowledgeable group (This Morning/ITV) Nevertheless, by the three hundredth day, savers will likely be placing away over £3 day by day, which is extra noticeable than only a few pennies. For that reason, some decide to do the problem in reverse, beginning on the £3.65 most and dealing down.

The problem has been backed by Martin Lewis’ Cash Saving Knowledgeable (MSE) group, who describe it as a “intelligent, enjoyable and comparatively painless option to amass a shocking sum”.

Former MSE author Molly Mileham-Chappell described how she and her husband efficiently accomplished the problem a number of years in the past, saying: “Finishing the problem alone saved me £667.95 throughout the total 12 months, so between the 2 of us we saved £1,335.90 over the 12 months. When you can afford to participate, do give it a go.”

To make the problem simpler, digital financial institution Monzo will as soon as once more allow prospects to enroll to participate within the problem on its app. This can see a specific amount squirrelled away into an instant-access financial savings account day by day mechanically.

Get a free fractional share value as much as £100.Capital in danger.

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Get a free fractional share value as much as £100.Capital in danger.

Phrases and situations apply.

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<img src="https://static.independent.co.uk/2025/12/31/14/16/Monzo-1p-spending-challenge-app.png" srcset="https://static.independent.co.uk/2025/12/31/14/16/Monzo-1p-spending-challenge-app.png?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/12/31/14/16/Monzo-1p-spending-challenge-app.png?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Monzo will once again enable customers to sign up to the 1p savings challenge on its app" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Monzo will as soon as once more allow prospects to enroll to the 1p financial savings problem on its app (Monzo) These participating may even be entered right into a £10,000 prize draw, offering they efficiently full the problem by the tip of the 12 months.

Marc Sfeir, product director at Monzo mentioned: “Final 12 months, we noticed over one million folks participate within the Saving Problem, proving that small steps can result in massive wins.

“For 2026, we’ve made it much more rewarding – with new ranges, greater curiosity on financial savings, and naturally, we needed to carry again the possibility to win that £10,000. It’s all a part of our mission to assist folks develop their cash with confidence and construct habits that make their cash work tougher.”

Prospects can begin the problem on the app anytime till 31 January 2026, and are capable of withdraw their financial savings, or pause or cease the problem, at any level.