Do you have big financial goals, but perhaps struggle to save money?
Or are you looking for a fun saving challenge to up the stakes on your savings goals?
You may want to give the 100 Envelope Challenge a try!
The 100 Envelope Savings challenge went viral on TikTok.
And that really shouldn’t be a surprise, since you can see the BIG impact this challenge can have on your financial state and goals.
Plus, we have made an awesome 100 envelope challenge pdf to help you track your progress while completing this challenge.
Let’s dive in!
What is the 100 Envelope Challenge?
Before we get into the 100 envelope challenge printable we have made, let’s go over the basics and how-to of this challenge.
The 100 envelope savings challenge is a fun way to help you save over $5000 in a short amount of time–like less than a year, or even in 100 days.
With this challenge you are stuffing envelopes with a designated amount of cash to save.
You then keep those stuffed envelopes in a safe place and do not touch the cash until all the envelopes have been filled.
Once the challenge is complete, you can take out the cash and use the money for one of your financial goals–emergency fund, paying down debt, sinking funds etc.
How to do the 100 Envelope Challenge
To do this challenge you will need some supplies first.
100 Envelopes– to stuff cash into
A box or container to house the empty envelopes. Plus an additional box to hold the filled envelopes.
You can use a shoe box, a photo box, or even a fire proof safe.
Alternatively, you could get one of these awesome 100 Envelope Binders.
Now onto how to accomplish this challenge.
Step 1. Label your envelopes. Take your one hundred envelopes and write one number from one to one hundred on each envelope. These labels will tell you how much money to save in each envelope.
Step 2. Shuffle the Envelopes. Rather than save the amounts from one to one hundred in order (that can get boring!), you shuffle the envelopes up so the order is mixed. This makes the challenge more interesting!
Step 3. Store the Envelopes. Now it is time to pull out one of those boxes we talked about earlier. Once the envelopes are shuffled, place them in the box, ready to start the challenge.
Step 4. Pull out your envelopes. Now it is time to start the challenge! Each day (or week, or whatever your timeline is), pull out an envelope. You can even do more than one envelope at a time.
Step 5. Stuff the envelope with Cash. Whatever number is the one the envelope you just pulled out, you now have to fill the envelope with that amount of cash. For example, if the envelope you pulled out has 52 written on it, then you need the fill that envelope with $52 dollars.
Step 6. Seal the Envelope. Now that the envelope has cash inside, seal the envelope up so you can’t access the cash. Then place the sealed envelope in the second box for safe keeping.
Step 7. Continue the Challenge. Keep pulling out envelopes and stuffing them with cash. Once all the labeled envelopes are filled, you have completed the challenge and saved $5050!!
100 Envelope Challenge PDF
Doing the 100 envelope challenge can be super fun and rewarding.
However, when doing a challenge like this, it is also nice to know how far you have come.
Having a visual tracker will help you stay motivated, and keep the goal on the top of your mind.
That is why we made this 100 Envelope Challenge PDF to help you track your progress.
After you have pulled out an envelope, filled it with cash and stored it for safe keeping, there is actually an additional step.
Pull out your tracker and color in which envelopes you just filled.
Using this tracker will give you a better visual idea of how much you have saved, and how much is left in the challenge.
Yes, you could go through and count the envelopes you have done, or the ones you have left to do.
But this tracker will give you a quick visual idea of BOTH of those numbers, without needing to pull out your envelope boxes.
Get your own 100 Envelope Challenge Printable here.
100 Envelope Challenge FAQs
How often do you pull out an envelope?
The great thing about savings challenges, like this one, is that it can be tailored to fit your needs and circumstances.
You can pull out 1 envelope every day and you will be done in 100 days!
You could also pull out two a week and be done in 50 weeks (just under 1 year).
You could pull out 1 a week and be done in just less than 2 years. Y
ou get to decide. Just make to sure to stick with it!
How to save $5000 in 3 months with 100 envelopes?
If you follow the steps listed above , you will actually save more than $5000 in 3 months.
Label your envelopes 1-100, pull out an envelope every single day to fill, and stuff it with the amount listed on the envelope.
Once all the envelopes are filled, you will have save $5050!
How long does the 100 Envelope Challenge Take?
If you pull out one envelope each day, you will be done in 100 days or roughly 3.5 months.
If you pull out two envelopes each week, you will be done in 50 weeks or 11.5 months.
Final Thoughts on 100 Envelope Challenge
I love the idea of the 100 envelope savings challenge.
Not only can you tailor it to fit your circumstances, but you can easily see your savings progress.
Plus using a chart to track your progress will help you stay motivated towards reaching your goal.
Are you ready to try the 100 envelope challenge? If so, make sure to grab the 100 envelope challenge printable here!
What will you be saving for?
Let me know in the comments.