High street banking giant NatWest has outlined three straightforward savings strategies that could see diligent customers accumulate as much as £1,378 in their accounts. The bank is promoting these methods to help people build a regular savings habit and grow their financial resilience.
The Three NatWest Savings Challenges Explained
NatWest, which operates branches nationwide including in Birmingham and competes with rivals like Santander, Lloyds, and Barclays, has detailed three distinct challenges. Each one uses a gradual, incremental approach to make saving more manageable.
The first is the 12-Month Savings Challenge. Here, customers save an amount each month based on the month's number multiplied by £10. This means saving £10 in January, £20 in February, and £30 in March, continuing through the year. By December, the monthly deposit reaches £120. This disciplined approach results in a total yearly saving of £780.
The Popular 52-Week Money Challenge
Perhaps the most lucrative option is the classic 52-Week Savings Challenge. This method involves starting small in the first week of the year with a £1 deposit. Each subsequent week, you increase the amount saved by £1. So, it's £2 in week two, £3 in week three, and so on.
By the final week of the year, you will be saving £52. The power of this steadily increasing commitment is substantial: by the end of the 52 weeks, you will have saved a significant £1,378. NatWest highlights that this not only builds a considerable sum but also ingrains the routine of setting money aside regularly.
The Penny Challenge for Daily Savers
For those who prefer a daily focus, NatWest suggests the 365-Day 1p Savings Challenge. It begins with saving just a single penny on day one. Each day after, you add one more penny to the amount saved from the day before. So, you save 2p on day two, 3p on day three, and continue the pattern.
While the daily amounts seem tiny, the cumulative effect is surprising. After a full year, this challenge yields a total of £667.95, proving that small, consistent actions can lead to a meaningful financial goal.
Building a Sustainable Savings Habit
NatWest emphasises that the best time to start any of these plans is immediately. There is no official start date; you can begin whenever you choose. The bank advises customers to select the challenge that best fits their mindset and financial flow.
To support the savings journey, NatWest recommends reviewing non-essential spending. Temporarily pausing discretionary purchases, like daily coffees or impulse fashion buys, can free up cash to fuel your challenge. You can test this spending review for a day or commit to it for the long term—the potential savings are directly linked to your commitment.
Ultimately, these challenges from NatWest offer structured, accessible pathways for anyone in the UK looking to boost their bank balance and develop a more secure financial future through consistent, manageable steps.
