Woman Shows Simple Hack To Save Over £5000

A TikTok user has shared a simple trick to help you to save £5,000. Watch the video here:

As you can see, it's pretty easy - all you need is a coin jar, a piece of paper, some sticky labels and a pen. Oh - and a bit of extra cash.

Becky Turoczi, from Australia, demonstrates just how it works.

Firstly, she writes the numbers one to 100 on a piece of paper and tapes it to the jar.

In the video, you see her putting a 50 note in the jar, before putting a star sticker on the number 50 on the piece of paper with all the numbers on.

Essentially, the challenge means that savers pick a number from the list, put the amount in and put a sticker over each one. By the time you're done, you'll have £5,050.

Becky says that there's no time limit on when you add the money - but of course, consistency is key, so if you save maybe once a week, you can complete the saving challenge faster.

It's similar to another trick we saw a few weeks back.

The viral challenge, which has become known as the '2020 Envelope Challenge', requires a set of 100 envelopes, each labelled up from £1 to £100, or a denomination of your choice (the original hack was in US dollars).

Basically, you take 25 weeks - that's less than half a year, remember - and draw two envelopes twice a week (or four per week) at random.

Whatever the figure you draw, you have to deposit that amount of cash. That means that if you pull out - let's say - the £35 envelope, you've got to stick £35 in it, and so on and so forth.

Obviously, this whole thing requires you to have the kind of disposable income to put away a sum of anywhere between £10 and £394 a week, but if you're the kind of person who has that, and is maybe guilty of splashing the cash rather than putting it away for a rainy day, this could be the trick for you to save some dough.

That's because, by the time you reach the 25th week - provided you've not cheated or cut any corners - there will be £5,050 - or whatever denomination, remember - sitting in those envelopes ready for you to collect.

Topics: Interesting, Community

Amelia Ward

Amelia is a journalist at LADbible. After studying journalism at Liverpool John Moores and Salford Uni (don't ask), she went into PR and then the world of music. She spent a few years working on festivals and events before joining LADbible. In her spare time, Amelia likes music and spending good, quality time with her cat, Paul. You can contact Amelia at [email protected].

@ameliasward