Our NEW 1p Saving Challenge - It's here - Join by 31 January 2025 🪙 🪙 🪙

Yes, it’s happening.

I can’t be bothered to work it out but .25% on the £3 you’ve saved isn’t worth worrying about.

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It’s more about developing the habit of saving than focusing on the interest. If you already save, then stick with your higher interest ISA

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Luckily I’ve secured a year on 5.16% with Trading 212.

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The graphic with the Scrooge McDuck-style penny bath has covered half the screen at a fiver. I’m curious to see how this goes over the course of the next eleven months.

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Absolutely. This is a fun game, not a sound investment plan.

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I’m hoping it zooms out otherwise we might not see Hot Chip taking his money bath once the challenge is complete! :sob:

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Had a Quick Look to see if this had already been suggested

I keep all my money in separate pots to stay organised - please will you facilitate a feature where deposits for the 1p challenge can be taken from another pot, much like other scheduled payments/direct debits?

I do not want to leave my savings outside of a pot, vulnerable to unexpected/accidental payments.

Many thanks!

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What on earth are these? :sweat_smile:

Is it like those tiktok videos where you trip and accidentally buy a car?

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Some people are vulnerable to being manipulated, unfortunately, I have been in the past. I can only assume that they put money in to the third party bank via Monzo that takes 24 hours to withdraw.

I get where they’re coming from, but they could just keep enough for the 1p challenge In their current account since it does tell you how much is going to be taken each month in the upcoming payments section

Or at least it did I swear I’ve seen it, but I can’t find it now :joy:, It told me the total amount that will be saved that month

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(not my work, it was David who made it)

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I could’ve sworn I saw it in the app somewhere but it seems i’m mistaken

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To be fair this would be really useful and a good suggestion for Monzo to implement!

Just checked in the app it tell you what tomorrows payment is. Mine says 37p currently…

The Balance tab in trends shows the total 1p challenge payments for the month under total upcoming…

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That is indeed where I saw it!

I don’t use trends at all

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That will be for the month following your budgeting start date (unless it also happens to be the 1st of the month), I presume.

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Ive not done the math, but I think it’s the remaining deposits in your current budgeting period…

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Thanks - that’s what I was trying to say in a rather clumsy way!

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Please could we add the ability to tag 1p savings to a category?

Anyway to pay the 1p challenge from a pot? I like to have whole numbers in my account :joy:

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Nope.