The Monzo 1p Savings Challenge: A Small Idea That Quietly Builds Discipline

Most people don’t struggle with the idea of saving money. They struggle with starting and even more with sticking to it.

That’s why the appeal of the 1p Savings Challenge isn’t the total you end up with. It’s the structure. The psychology. The fact that it lowers the barrier to entry so far that opting out feels harder than opting in.

Instead of asking you to “save more,” the challenge asks you to save almost nothing today, and just a little more tomorrow.

How the 1p Challenge Actually Works (Without the Gimmicks)

The idea is deliberately simple.

You start by setting aside 1 penny on the first day. The next day, 2 pence. The day after that, 3 pence. The amount increases steadily, but predictably.

What looks trivial at the beginning slowly becomes meaningful through repetition. Over time, the habit matters more than the arithmetic.

This kind of incremental structure works because it removes drama. There’s no pressure to be perfect—just consistent.

Why Monzo Makes This Challenge Practical, Not Performative

The challenge itself isn’t new. What is newer is how seamlessly it can be managed when paired with the right tools.

That’s where Monzo fits in.

Monzo’s app-based setup makes it easy to separate savings from spending without mental gymnastics. Creating a dedicated pot for a challenge like this keeps progress visible but unobtrusive. You don’t have to track anything manually or second-guess whether you’re keeping up.

If you’re curious to set it up properly, you can start here:
👉 Open a Monzo account and get started

Why This Works Better Than “Big” Savings Plans

Ambitious savings goals often fail for a simple reason: they ask too much, too soon.

The 1p challenge works in the opposite direction. It builds tolerance for saving by making it feel routine rather than restrictive. The daily increases happen quietly, often without forcing lifestyle changes.

For many people, the real outcome isn’t the final figure—it’s the confidence that comes from proving, day by day, that saving doesn’t need to feel like a sacrifice.

Who This Challenge Tends to Suit

This approach is particularly appealing if you:

• Want to build a savings habit without overthinking it

• Prefer automation over spreadsheets

• Like the idea of progress, you don’t have to negotiate with yourself

• Are already using (or considering) app-first money tools

It’s not about optimisation. It’s about momentum.

Setting It Up Without Overcommitting

One of the strengths of using Monzo for something like this is flexibility. You’re not locked into a rigid system, and you’re not committing to anything irreversible.

Some people complete the challenge in full. Others pause or adapt it along the way. The value is in starting with intention, not in chasing perfection.

If you want to explore it and decide whether it fits how you manage money, you can do that here:
👉 Join Monzo and set up your savings pot

A Quiet Way to Prove Consistency to Yourself

The Monzo 1p Savings Challenge isn’t flashy. It doesn’t promise transformation. What it offers instead is something more durable: a low-friction way to practice consistency.

For many people, that’s the hardest part of saving—and the most valuable to master.

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Alex Rowan
Senior Deals Analyst & Product Research Editor, IWE.Store