Westcountry Savings & Loans, the credit union we’ve teamed up with, is encouraging people across the area to join the 1p challenge.
Starting in January, you put away a single penny to begin with, then add 1p to the savings amount each day throughout the year:
|Day 1 save 1p Day 2 save 2p Day 3 save 3p||And so on…||Day 100 save £1.00 Day 101 save £1.01 Day 102 save £1.02|
Sticking to this plan, by the end of the year, savers will have built a pot of £667.95.
As the largest local credit union providing financial services to communities across the region, Westcountry Savings and Loans offer a choice of accounts for those completing the ‘1p per day challenge’.
Jackie Simpson, General Manager at Westcountry Savings and Loans, said: “The ‘1p per day’ challenge is a brilliant way for people to save.
“To keep pace with the challenge, savers can deposit the equivalent monthly amount with us. We will provide a safe home for their money as we’re covered by the Financial Services Compensation Scheme, and they’ll also be eligible for the annual dividend we pay on savings balances.
“What’s more, saving for Christmas this way means members will have cash available to spend how they choose when the bills start to mount up, unlike with other saving schemes where vouchers or hampers are often returned to those who deposit money throughout the year.”
Start the 1p a day challenge today. Visit www.westcountry.org/1paday for more information.