What difference can saving your pennies make?
A lot, it turns out, if youre doing the penny challenge.
This money-saving challenge helps you put aside $667.95 in a year or $671.61 in a leap year.
To participate in the challenge, stick to this:
Start by saving one penny on the first day.
Each day that follows, add one cent to the amount you saved the day before.
For example, on day two, youd add $0.02 to your savings.
On day three, youd add $0.03 and so on.
Continue this pattern every day for an entire year.
Now, just note: Youre not simply saving one penny a day.
On day three, youll have a total of $0.06 after making your daily savings deposit.
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(Trust us, we did the math.)
Thats $667.95 you could add to youremergency fundor use topay down debt.
Its money you could put toward a future vacation or a shopping spree.
Plan out how youd like to use your savings.
Did you know?
Nicole Dow is a former senior writer at The Penny Hoarder.
Deputy editor Tiffany Wendeln Connors updated this post.
It sounds appealing right?
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