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.

TikTok user @budgetingmum showed that starting off on day one by saving just 5p and increasing the amount you put aside by 5p each day - 10p on day two, 15p on day three and so on - after one year ...