Having a set goal for how long you plan to work this 100 Envelope Challenge will help you stay motivated and focused. Who knows-you might realize you can live without some things forever because you prefer to have that extra cash in your budget every single month. So, stop eating out, skip the fancy lattes, brown-bag your lunch, pause some subscriptions. Again, it’s just for 100-ish days! (Although, no one is stopping you from filling more than one envelope a day. The final way to have more money to knock out this 100 Envelope Challenge is by cutting some of your spending. Get a side hustle, sell some stuff, work overtime-or a combo of all three! It’s just for 100-ish days. Meaning you need to put in some extra work. Next up, find ways to increase your income. Because right now, you’ve got $5,050 you want to go into envelopes. and so you can start telling it where to go. And here are some practical and motivational tips to get it done-starting with three ways to find (and make) the extra money you need to fill those envelopes:įirst off, make a budget so you can see where your money’s going. Okay, those are the basic steps of the 100 Envelope Challenge. Tips to Succeed With the 100 Envelope Challenge If you want the challenge to get easier through the months, start backward (with 100!). You can grab one envelope each day at random or go in order. Just print it off and have your kids color in each envelope as you save! (Or print it for yourself if you want the visual motivation!)įind a box or drawer to keep all the (currently empty) envelopes and a spot for the ones that are about to be bulging with bucks. They can even help you track your money-saving progress with our 100 Envelope Challenge chart. If you’re doing this with the family, pull out some art supplies and get the kids in on decorating. You’ll need a stack of 100 envelopes, a marker, a competitive spirit and a healthy dose of willpower. How to Do the 100 Envelope Savings Challenge Or just drive to the dollar store for envelopes right now.) The math works out to $5,050 when you’re done! (1 + 2 + 3 + 4. You label 100 envelopes 1 to 100, and over 100 days (or more), whatever number is on the envelope you select, you stash that amount of cash in there. Okay, but what is this 100 Envelope Challenge? It’s a simple, low-tech way to gamify your savings. Well, there’s a way to get there that’s gotten quite the buzz on social media-and for good reason! With the 100 Envelope Challenge, you can save up that $5,000 in just 100 days. Oh, the things we’d do: pay down some debt, build up savings, pay cash for that vacation. Raise your hand if you’d love an extra $5,000 right now.
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