Savers start by setting aside £1 on the primary week, then £2 on the second week, then £3 on the third week, and so forth.
The challenge sees savers setting aside what they saved the week before while adding one other pound per week later. After a 12 months of doing this, savers could find yourself with a £1,378 savings pot.
On the challenge, Mat Megens, CEO and founding father of HyperJar previously said: “Sometimes, healthy competition could be an amazing approach to motivating yourself – especially should you do it with a friend or member of the family.”
Alternatively, Mr Megens continued: “You can even try the pound-a-day challenge, or create your individual game.”