Use this 100-day savings challenge to put away £2,525 by Christmas
It’s not as far away as you might think (Picture: Getty)

The summer sun may still be shining, but Christmas is right around the corner – and there are just 100 days left to get prepped for the occasion.

While you might not want to think about it yet, laying the groundwork now can ease a lot of stress nearer the time, helping you avoid last-minute panic buying and getting into debt.

Last year, almost 43% of UK adults planned to use credit cards for Christmas spending, putting an average of £672 each on plastic.

Yet you can spread the cost of celebrations – which many cited as a motivation behind taking on credit – before the big day too, lessening the grim financial hangover that January often ends up being.

In fact, not only can this savings challenge see you putting away up to £2,525 over the next 100 days, it also helps you make saving a habit beyond the festive season; how’s that for a head start on your New Year’s resolution?

To start, all you need to do is get yourself a vessel for your cash, or set up a separate account if you prefer to keep things digital. Certain banks also allow you to automate deposits (such as Monzo Pots) which is particularly useful for those who struggle to stick to a plan due to sheer forgetfulness.

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A chart so you can tick off what you’re saving when you do it may be handy too, ensuring you know where you are and giving you a daily sense of accomplishment that keeps you on track.

Now, in terms of numbers: today, you’ll start your pot with 50p. Tomorrow, you put in £1, then add £1.50 on Tuesday, £2 on Wednesday, and so on. Each day, raise the amount you save by 50p, watching the total gradually rise to an eventual £2,525.

If you use these amounts, the most you’ll put in on any given day is £50 (onChristmas Eve) – and while that might seem like a lot, the incremental rise eases you in. Plus, when you compare it to the £50 you could easily blow on a single shopping trip, it isn’t quite so daunting.

Example 100-day savings challenge schedule 1

If you go up in increments of 50p, this is what your savings schedule will look like…

  • September 16: 50p
  • September 17: £1
  • September 18: £1.50 
  • September 19: £2 
  • September 20: £2.50 
  • September 21: £3 
  • September 22: £3.50 
  • September 23: £4 
  • September 24: £4.50 
  • September 25: £5 
  • September 26: £5.50 
  • September 27: £6 
  • September 28: £6.50
  • September 29: £7
  • September 30: £7.50
  • October 1: £8
  • October 2: £8.50
  • October 3: £9
  • October 4: £9.50
  • October 5: £10
  • October 6: £10.50
  • October 7: £11
  • October 8: £11.50
  • October 9: £12
  • October 10: £12.50
  • October 11: £13
  • October 12: £13.50
  • October 13: £14
  • October 14: £14.50
  • October 15: £15
  • October 16: £15.50
  • October 17: £16
  • October 18: £16.50
  • October 19: £17
  • October 20: £17.50
  • October 21: £18
  • October 22: £18.50
  • October 23: £19
  • October 24: £19.50
  • October 25: £20
  • October 26: £20.50
  • October 27: £21
  • October 28: £21.50
  • October 29: £22
  • October 30: £22.50
  • October 31: £23
  • November 1: £23.50
  • November 2: £24
  • November 3: £24.50
  • November 4: £25
  • November 5: £25.50
  • November 6: £26
  • November 7: £26.50
  • November 8: £27
  • November 9: £27.50
  • November 10: £28
  • November 11: £28.50
  • November 12: £29
  • November 13: £29.50
  • November 14: £30
  • November 15: £30.50
  • November 16: £31
  • November 17: £31.50
  • November 18: £32
  • November 19: £32.50
  • November 20: £33
  • November 21: £33.50
  • November 22: £34
  • November 23: £34.50
  • November 24: £35
  • November 25: £35.50
  • November 26: £36
  • November 27: £36.50
  • November 28: £37
  • November 29: £37.50
  • November 30: £38
  • December 1: £38.50
  • December 2: £39
  • December 3: £39.50
  • December 4: £40
  • December 5: £40.50
  • December 6: £41
  • December 7: £41.50
  • December 8: £42
  • December 9: £42.50
  • December 10: £43
  • December 11: £43.50
  • December 12: £44
  • December 13: £44.50
  • December 14: £45
  • December 15: £45.50
  • December 16: £46
  • December 17: £46.50
  • December 18: £47
  • December 19: £47.50
  • December 20: £48
  • December 21: £48.50
  • December 22: £49
  • December 23: £49.50
  • December 24: £50

Total by Christmas: £2,525

That said, the beauty of this challenge is that you can alter the amounts and timings to suit you.

If your income won’t stretch as far, you can use the same method but cut the deposits in half, going up in increments of 25p each day instead and finishing with a total of £1,411.

Alternatively, if you know you’ll be using the cash to buy presents online, you could choose to reduce the length of the challenge. For example, this year Black Friday falls on November 29 – a nice, round 75 days from now – so if you stick to the original schedule until then, you’ll wind up with £1,425.

Example 100-day savings challenge schedule 2

Alternatively, if you go for the 25p increment option, here’s what it’ll look like…

  • September 16: 25p
  • September 17: 50p
  • September 18: 75p
  • September 19: £1
  • September 20: £1.25
  • September 21: £1.50
  • September 22: £1.75
  • September 23: £2
  • September 24: £2.25
  • September 25: £2.50
  • September 26: £2.75
  • September 27: £3
  • September 28: £3.25
  • September 29: £3.50
  • September 30: £3.75
  • October 1: £4
  • October 2: £4.25
  • October 3: £4.50
  • October 4: £4.75
  • October 5: £5
  • October 6: £5.25
  • October 7: £5.50
  • October 8: £5.75
  • October 9: £6
  • October 10: £6.25
  • October 11: £6.50
  • October 12: £6.75
  • October 13: £7
  • October 14: £7.25
  • October 15: £7.50
  • October 16: £7.75
  • October 17: £8
  • October 18: £8.25
  • October 19: £8.50
  • October 20: £8.75
  • October 21: £9
  • October 22: £9.25
  • October 23: £9.50
  • October 24: £9.75
  • October 25: £10
  • October 26: £10.25
  • October 27: £10.50
  • October 28: £10.75
  • October 29: £11
  • October 30: £11.25
  • October 31: £11.50
  • November 1: £11.75
  • November 2: £12
  • November 3: £12.25
  • November 4: £12.50
  • November 5: £12.75
  • November 6: £13
  • November 7: £13.25
  • November 8: £13.50
  • November 9: £13.75
  • November 10: £14
  • November 11: £14.25
  • November 12: £14.50
  • November 13: £14.75
  • November 14: £15
  • November 15: £15.25
  • November 16: £15.50
  • November 17: £15.75
  • November 18: £16
  • November 19: £16.25
  • November 20: £16.50
  • November 21: £16.75
  • November 22: £17
  • November 23: £17.25
  • November 24: £17.50
  • November 25: £17.75
  • November 26: £18
  • November 27: £18.25
  • November 28: £18.50
  • November 29: £18.75
  • November 30: £19
  • December 1: £19.25
  • December 2: £19.50
  • December 3: £19.75
  • December 4: £20
  • December 5: £20.25
  • December 6: £20.50
  • December 7: £20.75
  • December 8: £21
  • December 9: £21.25
  • December 10: £21.50
  • December 11: £21.75
  • December 12: £22
  • December 13: £22.25
  • December 14: £22.50
  • December 15: £22.75
  • December 16: £23
  • December 17: £23.25
  • December 18: £23.50
  • December 19: £23.75
  • December 20: £24
  • December 21: £24.25
  • December 22: £24.50
  • December 23: £24.75
  • December 24: £25

Total by Christmas: £1,411

Obviously, this savings challenge isn’t for everyone; first and foremost, it can’t magic up money you don’t have out of thin air.

But for those who have disposable income yet always end up putting Christmas on credit cards, or folks who need more of a push to get them excited about saving and keep them committed to achieving a goal, it’s worth a try.

Deals of the day

Who knows – by December 26, you could be celebrating your newfound financially responsible self.

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