Money expert shares 5p savings technique to put away over £3,000 a year

manchestereveningnews.co.uk:

Brits can boost their bank balances with a straightforward daily 5p saving trick. They could ramp up savings by a hefty £3,400 in a year.

Finance pundits from Money to the Masses, Damien Fahy and Andy Leeks, have explained savvy saving techniques could transform dreary days into, well, loads of money.

The idea has echoes of the viral 1p challenge from lockdown. Leeks proposes a new spin with the 5p challenge that could significantly increase savers' funds.

His philosophy is simple. He said: "The 5p challenge, this is where you increase the amount you save every day by 5p. So you start with 5p, the next day you go 10p, the next day 15p and so on. "If you continue that for a whole year, you'll actually end up saving £3,400." Nice.