Let’s face it—managing money as a parent can be stressful, especially when you're already juggling a million things. But guess what? Saving money doesn’t have to be an uphill battle. There are simple ways to save—even when every penny counts. Here are a few fun, easy saving challenges and tips that can help you build your savings.
1. Try the 1p a day challenge
The 1p a day challenge might sound a little bit like “how much difference can a penny make?” But trust us, it adds up!
Here’s how it works: You save 1p on the first day, 2p on the second, 3p on the third, and so on. By the end of the year, you’ll have saved a nice little pot of £667.95.
It’s small, manageable, and before you know it, you’ll have a decent chunk saved up. You can keep it in a jar, an envelope, or even a savings account. The gradual increase makes it totally doable.
2. Cash stuffing for hands-on saving
If you like the idea of having a bit more control over your spending, cash stuffing might be the thing for you.
Here’s how it works: You take your cash and stuff it into envelopes, each one labeled for a specific category like groceries, bills, fun, or savings. For example, if you set aside £50 for groceries, you can’t spend any more than that—no excuses!
It’s a fun and hands-on way to manage your budget, and it helps you see exactly where your money is going. If you run out of cash in an envelope, it’s a simple (and effective!) reminder to stop spending in that category. If you're someone who finds it hard to stick to a budget, this method can really help curb impulse spending.
3. Take on the 52-Week money challenge
The 52-week money challenge is another great way to save without even realising it.
Here’s how it works: Each week, you save a bit more than the week before: £1 in the first week, £2 in the second week, and so on. By the end of the year, you'll have saved £1,378.
This one’s great because it gets you in the habit of saving regularly, and by the time you hit the end of the year, you’ll be amazed at how much you’ve saved. But don’t worry if that seems too much—this challenge is totally flexible! Start small and build up, or even go the other way around and start with £52 and work your way down.
4. Round-up your savings with simple apps
Do you ever use your debit card for small purchases? You could consider using a bank that includes a round-up savings option.
Here’s how it works: These apps automatically round up your purchases to the nearest pound, and the change gets saved. For example, if you buy a coffee for £2.50, the app will round it up to £3 and save the 50p difference for you. Monzo and Starling bank have this option in-app.
It’s a no-brainer way to save because you don’t have to think about it! It might not seem like much at first, but those little bits of change add up quickly. Over time, you could end up with a nice little savings boost just from your daily purchases.
5. Have a No-Spend Day
We all have those days where we end up buying things we don’t really need. But what if you didn’t spend anything for an entire day?
Here’s how it works: The idea of no-spend days is pretty simple: pick one day each week or month where you don’t buy anything except essentials (think groceries, bills, etc.).
It’s amazing how much you can save by cutting out all the extra little purchases. Plus, it forces you to get creative and find things to do that don’t involve spending money—like a family movie night with snacks you already have at home. These no-spend days can really add up over time and give you a break from those sneaky, unnecessary expenses.
6. Lower Your Utility Bills
There are actually loads of small changes you can make to lower your energy costs.
Here’s how it works: Things like turning off lights when you leave a room, unplugging appliances, or switching to energy-efficient bulbs can make a huge difference.
And don’t forget—if you’re on a low income, you might qualify for discounts or grants from your utility providers. It's worth checking out to see if you can get a bit of help with your bills. We’ve got some good tips on where to start looking for help over on this blog.
7. Meal Planning and Cooking in Bulk
Feeding your family on a budget doesn’t have to mean cutting corners. One of the easiest ways to save money on food is by meal planning.
Here’s how it works: When you plan your meals for the week, you only buy what you need and can avoid those tempting impulse buys in the supermarket. Cooking in bulk is another great strategy—cook bigger portions of meals like stews, casseroles, or pasta dishes, then freeze the leftovers for later.
This way, you’re getting more out of the ingredients you’ve bought, and you’ll have ready-made meals for busy days when you don’t feel like cooking.
8. Use Cashback and Discount Apps
We’re sure you’ve heard of cashback apps, but have you actually used them? Apps like TopCashback and Quidco can help you earn cashback or find discounts on things you were already planning to buy.
Here’s how it works: Before you make any online purchase, check to see if there’s a cashback offer or discount code available. It’s like getting paid to shop! Over time, these little discounts add up and can help ease the pressure on your wallet.
9. Cut back on subscriptions
It’s so easy to sign up for streaming services, subscription boxes, and other monthly costs—but before you know it, you’re paying for things you don’t even use!
Here’s how it works: Take a moment to review your subscriptions and cut out the ones that aren’t essential. You can also share subscriptions with family or friends to save a bit extra.
Trimming back on subscriptions is an easy way to free up some money without feeling deprived.
10. Teach your kids about money
Finally, it’s never too early to start teaching your kids about money.
Here’s how it works: Involve them in your savings challenges, like the 1p a day challenge, and encourage them to save their pocket money or birthday money. Not only does this help them understand the value of money, but it also gets them involved in your family’s savings goals.
Saving money on a tight budget isn’t easy, but with a little bit of creativity and consistency, it’s totally doable. Start small with one or two of these ideas, and over time, you’ll see your savings grow. Remember, even little changes can add up to something big!
You’re doing amazing—keep it up, and don’t be too hard on yourself. Saving is a journey, and every step counts.
