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Liverpool Echo
Liverpool Echo
World
Rachel Pugh & Lottie Gibbons

The simple £2 challenge to save at least £400 by next year

This one simple method could help you save hundreds of pounds by 2021.

The festive season is a time of big expenses for many and New Year sees many people needing to keep a close eye on their finances.

But one woman has revealed how she saves up to £400 by doing the simple '£2' challenge she learnt as a kid.

Speaking to  LatestDeals.co.uk  , Erin O’Meara, from Surrey, explained how the trick she used to use as a kid to top up her piggy bank has changed her adulthood.

(Getty Images/iStockphoto)

The 27-year-old said: "I came up with the idea as I saw my dad doing the same thing when I was little".

She continued: "He always used to ask me to check my change to see whether I had any £2 coins and I could never work out why he would want them.

“It was only when I asked him for some saving tips that he told me that on January 1st, he gets a tin and fills it up throughout the year (with only £2 coins) and empties it the middle of December.”

The money-savvy woman then decided to give the challenge a go herself, and was amazed with the results, reports the M.E.N.

Erin explained: "When I opened the tin, I was amazed! It took a lot of willpower to not open it up and spend it on my lunches or petrol, but all I was thinking was about having my own home.

"I'd say the main challenge is to find the £2 coins. Also knowing that there is money somewhere in your house... but you can't get to it as you need a can opener!"

Following her success, Erin wants to do even better in 2020.

She said: "This year I'm going to double the size of the tin and collect both £2 and £1 coins and see how I get on.

"To anyone looking to save and try this out, I would recommend a small tin to start with and collect just pounds.

"Once you have filled it up and opened it, put it straight into your savings and then try £2 coins! When you realise how much you have saved the motivation to get more is a real adrenaline rush."

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