As the new year begins, a major UK bank is offering a straightforward blueprint to help households build a substantial savings pot. NatWest is actively encouraging its account holders to participate in a 12-month savings challenge designed to accumulate £780 by the end of 2026.
The NatWest Monthly Multiplier Method
The bank's proposed strategy is elegantly simple. It involves multiplying the number of the month by £10 and saving that amount. Savers would start by putting away £10 in January, followed by £20 in February, £30 in March, and so on, culminating in a £120 deposit in December.
NatWest highlights that this approach helps people gradually develop the habit of setting aside larger sums as their financial confidence grows throughout the year. "By the end of the 12 months, you'll have saved £780," the high street lender confirmed.
Martin Lewis' Popular Penny Challenge Alternative
This initiative echoes a well-known savings plan promoted by Martin Lewis's MoneySavingExpert.com team. Their method, the 1p savings challenge, provides a different path to a significant yearly total.
This challenge works by saving a number of pence corresponding to the day of the year. You would save 1p on 1 January, 2p on 2 January, 3p on 3 January, continuing all the way to £3.65 on 31 December. If followed from the start of 2026, this daily discipline results in a grand total of £667.95.
The MSE team is keen to point out the flexibility of their plan. For those starting late, you can simply catch up by adding together the totals for all the missed days. For instance, beginning on 20 January means depositing £2.10 on your first day, then resuming with 21p on the 21st.
Practical Ways to Stick to the Challenge
MoneySavingExpert suggests two primary methods for savers. The traditional, literal approach involves using a physical jar or piggy bank and adding loose change each day.
The more modern and secure method is to manually transfer the cash into a savings account via online banking. However, they advise checking if your bank permits very small daily transfers; some, like HSBC, do allow transactions from just 1p.
Recognising that a daily login can be laborious, the team suggests a pragmatic compromise: saving the month's total in one go. This maintains the challenge's spirit while fitting more easily into busy lives.
With these two clear strategies from major financial voices, UK households have accessible, structured options to boost their financial resilience in the coming year, turning small, consistent actions into a considerable sum.
