NatWest customers have the opportunity to amass a tidy sum of £780 by the end of 2025 by adopting a widely endorsed savings strategy. The year-long challenge motivates savers to progressively save larger amounts each month by stashing away £10 notes, with the monthly saving amount being the product of the month number and £10.
To illustrate, in January (Month 1), you would save £10, followed by £20 in February (Month 2), and £30 in March (Month 3). As the months advance, so does the saving target: £40 in April, then £50 in May, and £60 in June.
July’s target jumps to £70, while August, September, and October see savers putting aside £80, £90, and £100 respectively. Come November, the ante is upped to £110, and the festive season of December rounds off the year with a £120 saving.
NatWest has advised: “Each month, multiply the month number by £10 and add that to your savings. Month 1: January save £10. Month 2: February save £20. Month 3: March save £30. By the end of the 12 months, you’ll have saved £780! This method gradually gets you into the habit of setting aside a larger amount as the year progresses.”
The bank further commented: “The perfect time to kick off your savings challenge is… anytime you decide! That’s right, there’s no set start date. Just pick the challenge that resonates with you and dive in. Happy saving! Our mobile app is your ultimate savings sidekick.”, reports Birmingham Live.
Describing the benefits of the new feature, she continued: “With it, you can effortlessly manage your savings on the go. Whether you’re looking to make instant transfers or just want to keep an eye on your balance 24/7, we’ve got you covered. It’s all about making your financial journey as smooth as possible.”
Meanwhile, the trend for ‘Loud Budgeting’ has swept across social media. Instead of beating around the bush or succumbing to peer pressure, loud budgeting is all about being transparent with friends and saying it out loud – “That’s not in my budget right now.”