If your New Year's resolution is to save more in 2021, you might want to take on a savings challenge.
The 52 Week Savings Challenge has gained a cult following around the world, with thousands of people everywhere from Kenya to the USA taking it on.
If you stick to it, you'll have £1,378 in savings by the end of the year. And it starts by saving just £1 in the first week. The next week, set aside £2. The week after, £3. And so on!
How to start the 52 Week Savings Challenge
You can take on the challenge with your Monzo account.
UK residents only, Ts&Cs apply
It works using a service called If This Then That (IFTTT), that lets you automate your Monzo account.
Head to the £1 Weekly Savings Challenge on IFTTT
Log into Monzo and agree to some terms
Next, choose which pot you’d like to put your savings in (or go to your Monzo app to make a new one)
Tap ‘Save’ to get started!
We’ll move the money into for Pot for you every week.
When you connect your Monzo account to IFTTT, we’ll ask you to give IFTTT permission to do things like move money into Pots. But don’t worry, IFTTT will only do what you’ve explicitly asked it to, when you set up a challenge like this one.
Good luck 💪