As many households head into the new year still recovering from Christmas spending, attention is turning to simple ways to rebuild savings and regain control of day-to-day finances.
Rising living costs and tighter budgets have made it harder for many people to put money aside, even when the intention is there.
Financial experts often point out that the biggest barrier to saving is not income, but consistency. Automated tools that remove the need for regular decision-making have grown in popularity, particularly among those looking to build better habits without the pressure of large monthly commitments.
Against that backdrop, Monzo is bringing back its automated Saving Challenge for 2026, following strong uptake last year from customers looking to save little and often.
Savers can automatically build their savings pot through gradually increasing daily deposits.
Upon joining, Monzo creates a dedicated Challenge Pot and begins moving funds automatically from the customer's personal account.
The process starts with a single penny on day one, rising to 2p on the second day, 3p on the third, and continuing this pattern throughout the year.
After one month, savers will have accumulated £4.64, while the halfway point at day 183 yields £168.36.
Those who maintain the challenge for the full 365 days will finish with £667.95 in their pot.
Completers who reach this target become eligible for a £10,000 prize draw
|MONZO
Completers who reach this target become eligible for a £10,000 prize draw, with the flexibility to pause, withdraw or stop at any time.
Subscribers to Monzo's paid tiers—Extra, Perks and Max—gain access to enhanced features this year.
These customers can opt for accelerated savings at either double or quadruple the standard rate, beginning with 2p or 4p on the first day and scaling accordingly.
Selecting the 4x option enables savers to accumulate up to £2,671.80 over twelve months.
Monzo creates a dedicated Challenge Pot and begins moving funds automatically from the customer's personal account
| PAPaid plan holders also benefit from five per cent interest applied to their Challenge Pot balance.
Additionally, these subscribers enter monthly prize draws offering £100 to 100 winners each month.
While paid customers may join the challenge at any point, they must register by 31st January to qualify for the prize draw opportunities.
Marc Sfeir, Product Director at Monzo, said: "Last year, we saw over a million people take part in the Saving Challenge, proving that small steps can lead to big wins.
Entry into the £10,000 draw requires participants to hold a Monzo personal current account or paid plan
|MONZO
"For 2026, we've made it even more rewarding with new levels, higher interest on savings, and of course, we had to bring back the chance to win that £10,000. It's all part of our mission to help people grow their money with confidence and build habits that make their money work harder."
Entry into the £10,000 draw requires participants to hold a Monzo personal current account or paid plan, be aged 18 or over, and reside in the UK.
Customers must begin the challenge before midnight on January 31, 2026 and hold at least £667.95, excluding interest, in their Challenge Pot on the final day.