That is the best motivator you will need when trying to save your money! How Much Money Do You Get from the 100 Envelope Challenge? Imagine opening that desk drawer and seeing envelopes filled with cash. Another perk of putting the money away in these envelopes as cash is that you can physically see your savings! This challenge can also create good spending habits because if you are putting all of your extra money into the envelope challenge, then you have less to spend if you are a shopaholic or a person who likes to eat out a lot and is not the best at keeping up with expenses.Īlso, you are much less likely to spend the money once it has been put into the envelopes as cash, you can think of it as out of sight and out of mind until you reassess all of your savings. While the idea of pulling the 100 envelopes and having to stuff cash away may seem daunting, it helps to motivate you and push you towards a goal that otherwise you might have continued to put off.
Instead of constantly saying, “I need to start saving for a new car,” or “I really need to start saving so I have a cushion in case of emergencies,” this plan helps you put those thoughts into action. The 100-envelope money saving challenge works so well because it is an interactive way to actively save your money for a goal or plan you have coming up. Rather than working on an entire new budgeting system, you can focus on a specific savings goal and hopefully find some joy in using this system to give yourself more motivation to save and live your best frugal life. This makes the concept of saving a little less intimidating. However, this challenge focuses solely on building up those savings rather than working on a budget as a whole. The numbers on the envelope will correspond to the amount of money you will be putting into that envelope to begin your savings! The 100 envelope challenge is somewhat similar to the cash envelope budgeting system, which you can read more about here. You don’t want to go in numbered order with the envelopes because that makes it less exciting and will make it much harder to stick to towards the end of the one hundred days. The goal is to mix them up so that you can randomly pull an envelope every day, week, or two weeks and have a different numbered envelope, avoiding pulling high numbers only or low numbers only. You’ll want to put your envelopes in a location that is convenient for you to access and that reminds you to participate in the challenge during your scheduled time frame, which you can customize to fit your personal savings timeline. You will then label each envelope with a number one through one hundred.
#100 envelope savings challenge free#
All you need are 100 envelopes to start with, and you can either buy these or print them with this free printable template. The 100-envelope savings challenge is actually very simple.
#100 envelope savings challenge how to#
In this post, we’re discussing maximum savings, how to stay motivated, and what your end goal will be once you finish this challenge. Keep reading to learn more about the instructions on how to do this and how to access the free printable that goes along with it.
Whether you’re planning to save for an upcoming life event or just want to put back money for medical expenses or your child’s college fund, this challenge will give you a head start and help foster healthy saving habits in an exciting way. The 100 envelope challenge is a great way to kick start your savings and make it a fun experience while you’re at it.
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