NatWest financial savings hack that might see your cash develop by over £700 in 2025

The savings challenge is designed to be completed over the course of a year, with NatWest customers adding increasing amounts of money each month to grow their pot

NatWest has unveiled a savings challenge that could see Brits pocketing a cool £780 by 2025.

The bank’s latest initiative offers a structured and manageable approach to saving, with several options depending on one’s financial goals.

The 12-month plan involves stashing away £10, with the amount saved each month increasing by multiplying the month number by £10. NatWest explained: “By the end of the 12 months, you’ll have saved £780.”

They added: “This method gradually gets you into the habit of setting aside a larger amount as the year progresses.”

Other popular savings challenges can involve people putting money away daily or weekly, rather than monthly.

For those who prefer more frequent savings, there’s the 52-week £1 savings challenge, where participants save incrementally more each week, starting with £1 in the first week and adding an extra pound weekly, culminating in a hefty £1,378 after a year.

NatWest said: “This approach not only helps you save a significant amount by the year’s end but also creates a habit of saving regularly,” reports the Express.

Another hit among savers is the 1p savings challenge, which mirrors the £1 challenge but uses pennies daily, beginning with 1p and increasing by 1p each day.

While the final sum won’t be as substantial as the £1 challenge, savers can still accumulate £667.95 in a year.

NatWest added: “This challenge is a small step each day towards achieving a bigger savings goal.”

The news comes after Nationwide encouraged customers to budge plan using the 50-30-20 rule.

“Doing this can keep you enjoying the things you love whilst living within your means,” they said.

Customers are advised to allocate 50% of their income to essential expenses and fixed outgoings.

A further 30% should be dedicated to “wants” – covering day-to-day spending and leisure activities.

The remaining 20% is recommended for savings or debt management, which could include “paying more than your minimum payments or putting money into savings account, pot, ISA or investment.”

This structured approach aims to help customers maintain a clear overview of their monthly expenditure while ensuring a balance between necessities and discretionary spending.

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