Challenges are not supposed to be easy 
Congrats on finishing!
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I will definitely do it again but trying to decide whether to start with the 2X or 4X.
I might start with the 4X and gradually move down to 2X or 1X over the course of the year.
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I’m in. Calculating the X2 & X4 level-up monthly amounts needed (and resulting interest-applied daily balances for X2 and X4 plans) now…
Is something else supposed to happen if I tap on the remind me button? I get redirected to a page asking me to open a free Monzo account…
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Seems only the save up to £2,671 is locked behind paid tier. Standard challenge should be available for all?
Probably not. Putting money away when getting paid is much more manageable for me, and last year reward was meh. Might join if they do 52 weeks £1 savings challenge.
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Usual Monzo behaviour 
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I wasn’t going to, instead I was planning on putting £100/month into premium bonds instead (effectively continuing the Nov-Dec amount). But 5% is pretty damn good… That’s only beaten by our NatWest Digital Regular Saver accounts (which are capped at £150/month). Hmm….
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Ok so my math is showing a total of £2,716.67 earned in this new challenge, assuming you 4x the whole way and the rate stays at 5% the whole year (which it probably won’t, but I believe the BoE did say something about this latest rate drop likely being the last for a while…). If my wife and I both do it that is £5,433.35 saved throughout the year, earning 5% interest along the way. That is definitely making me rethink my plan to not do the challenge again this year…
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Interesting. Shame there’s no mention of doing it in reverse which is something they did say they would look at for this year.
The “boost” is a nice idea, and the fact it’s not locked in so you can change it means I can x4 to start, and drop to x2 later on, then x1.
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Hey everyone! I’ve opened a new topic to discuss the 2026 Saving Challenge here 
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This gives me an idea…
Work out the average per month, and put that into a separate pot, and then I can withdraw the weekly amount needed for the challenge.
I know it defeats the point of the “challenge” but x4 (almost £15 a day at the end of Dec) is tough.
Average would be £222.65 per month if doing it solo, or £445.30 if two people are doing it. Though if you are putting it in a pot also earning interest you could probably drop that to £215/£430 and be covered.
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It will only be a small incremental amount earning 5% though.
If you do the math, I believe you’ll find an equivalent monthly saver account would give you more interest. A simple reason would be that you’d be putting in more money earlier, so more money would have more time to earn interest.
In the Penny Challenge, most of the money goes in very late into the year, which means it spends much less time earning interest.
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Of course, but this would be in addition to our regular saver accounts, not instead of. We’re already maxing out those, so any current extra savings are at the lower 3.25% Monzo gives in savings pots. I know we could open other regular savers with other banks and save more, but as someone who has to file the FBAR each year I have an incentive to keep our accounts tidy…
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I cant find the exact post (there’s too many in here), however from my understanding this has been the case since the beginning.
Back on topic of the 2025 Challenge then.
Has everyone decided what they are doing with the money they’ve saved this year? I’m either gonna move it into my ISA/LISA, or look to swap my dual monitor setup for a single super ultrawide.
Half of it topping up my emergency fund and the rest towards a new Apple Watch I think.
You wouldn’t be eligible for the £10k as the end amount can’t include interest.