Bizarre new money-saving challenge that involves a TOILET and could save you £250 this year

JANUARY is one of the hardest months for Brits financially, as debt from Christmas spending continues to add up.

Official figures released today show that inflation jumped to 1.6 per cent, meaning disposable household income will be squeezed even further this year.

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But there's a simple - albeit strange - way to help you save some cash.

According to cashback website , putting 1p into the jar each time you go to the toilet will add up to a healthy £255.50 over the year.

That's based on the average amount of time people "spend a penny" - otherwise known as going for a pee - on a daily basis, which according to the Bladder and Bowel Foundation is seven times.

Putting a total of 7p into the jar each day will amount to £255.50 by the end of 2017, after 365 days of saving.

As we're already two weeks into the year, savers may have to add a few extra pennies to the jar to reach the final figure.

If you want to save a bit more, another penny challenge will leave you with a whopping £668 by the end of the year.

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The challenge requires you to put in 1p into the jar on the first day, then increasing it to the equivalent amount of pennies for each day of the year. By the end of the year, savers should have £668 in their penny jar.

There are other ways you can save money this year, including swapping branded supermarket products for unbranded ones, and buying in bulk.