Tuesday, May 21, 2024
HomeBERITAHow to save £1,378 in a year with the ‘bingo’ money saving...

How to save £1,378 in a year with the ‘bingo’ money saving challenge

The bingo savings challenge was created to help people who struggle to save easily, but also has flexibility for weeks when you don’t have a lot of spare cash.

It was designed by the Metro, and all you need to start is a bingo table with all the numbers from one to 52.

Each week, you save one of the amounts on the board and cross it off.

You need to make sure you’re checking off a different number on each different week.

It’s probably best to tick off some of the higher amounts – the biggest one is £52 – on weeks where you have more money, for instance straight after payday.

Weeks where you’re more short of funds you can choose some of the lower amounts, which start from just £1 in a week.

If you stick to the challenge and tick of all the boxes, you’ll save £1,378 by the end of the year.

It’s very similar to the 52 week savings challenge.

This plan tells you to save £1 in the first week of the year, £2 the second, £3 in the third week and so on.

Although the initial sums to save are low, in December you’d need to save £202 split across the four weeks.

But the bingo challenge helps solve this by allowing you to spread the bigger payments throughout the year and choose a plan that is suited when you get paid and when you have less money.

These are just two of several savings tricks and challenges that people have suggested for 2020.

Challenges are a good idea to get into the habit of setting money aside, especially for those who struggle to save.

Another good challenge was suggested by the Apartment Therapy website and will save you £1,500 by the end of the year.

In this plan, you need to set aside £1 every Sunday, followed by £2 on Monday, £3 on Wednesday and so on.

On Saturday you put away £7, and then the process repeats and you’ll put aside £1 on Sunday as the new week begins.

If you stick to the targets, you’ll put aside £28 a week, which works out as £1,456 by the end of the year.

If you’re paid weekly, you might want to switch the order so you save the higher amounts early in the week when you have more money.

Another challenge that might work well for people whose finances are tight is the £10 a week savings plan.

This is very simple, set aside £10 every week, and you’ll have a pot of £520 by the end of December.

Another thing to consider is saving up your change every time you pay with cash.

If you pop it into a jar and open it by the end of the year, you could be surprised by how much you’ve saved. – The Sun

RELATED ARTICLES

Leave a Reply

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments