IF you are looking to save money this year but aren’t sure how to get started, a savvy mum has got you sorted. 

Scots mum Kirsty has shared a very simple way that you can save over £600 this year with very little effort. 

In a series of videos,Kirsty shared her clever New Year penny savings challenge. 

In the clip, she demonstrates how her savvy saving hack works.

With Kirsty’s 1p rainbow challenge, on the first day you must start by saving 1p.

Every day that follows, you must save 1p more than the day before.

So on day two, you would be saving 2p, on day three you must save 3p and so on and so forth. 

The most you’ll have to put aside in a single day is £3.65.

If you don't start on January 1, there's nothing stopping you from starting at any point throughout 2023.

If you start on January 20, for example, you can start by putting aside £2.10 and then carry on with 21p the next day, so you'll finish by December 31.

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Or, you can start from 1p at this point and stop by January 19, 2024.

The money you save could be put in a piggy bank or coin jar if you are doing it with cash.

You could also transfer the money through your online banking to put it in a savings account where you could earn interest on top.

After a year of saving with this 1p challenge, you would have saved a total of £667.95 with Kirsty’s simple but effective idea. 

She said: "This one's just the penny challenge but I made my own one up so it's kind of like rainbow and pretty.

"I've got all the days of the month there plus the months at the top then that way I can stick on track.

"I've also done a reverse penny challenge so next year I'll possibly start off in January with the highest amount going to the lowest because it's apparently meant to be easier.

"I'm going to get them laminated so I can reuse them."

The budgeting mum admits she sometimes falls behind on the challenge, but she marks each box with a bright colour to keep track and catch up.

She often uses leftover money from the weekly shop or even coins found in a drawer to mark off days with very little effort.

And she is even prepared for 2024 – creating leap year challenges to include the extra day.

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Her money-saving tip has been a hit with social media users, as one said: "This is what I need to do lol.

"Two years to save for a wedding lol."

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