Have you heard about the 100 envelope challenge?
You know, the one where people fill envelopes with cash, saving a little bit every day, and they end up saving $5050?!
Well, have you wanted to try it, but saving that much money in 100 days feels impossible?
Or you want to do it, but you would rather save money at the same time you get paid?
Today we want to share with you two ways to make the 100 envelope challenge work bi-weekly so that you can complete the challenge, but do it in a way that works with your pay schedule.
What is the 100 envelope challenge?
Put simply, the 100 envelope challenge is a fun, motivating way to save money.
It really helps you learn to save money over time, and reach a big savings goal in just a short about of time.
Essentially you have envelopes labeleed 1 to 100. Every day you pull out one envelope and save the amount listed on the envelope.
By the end you have saved $5050. And that is no small accomplishment!
But we want to talk about how to do 100 envelope savings challenge biweekly, to line up with your pay schedule. So let’s get to that!
Saving Biweekly for the 100 envelope challenge
If you want to do the 100 envelope challenge, but only save when you get paid biweekly, then you will need to make some adjustmetns to the original savings game.
Instead of pulling out envelopes every day, you will only pull out the envelopes on the days you get paid.
When you get paid, whatever number envelope you pull out, that is the amount you will need to save for that pay check.
Now the original challenge had you saving money every day for 100 days.
Doing the challenge on a biweekly schedule means that the challenge is going to take longer.
And that is okay! The point is to save money and you will!
With a biweekly pay schedule, you probably get 26 paychecks every year.
That means you have 26 times per year to save money into the 100 envelope challenge.
If you want to still complete the challenge fairly quickly, I have two options for you to do this challenge.
100 Envelope Challenge Bi weekly Option #1.
Option one will have you completing the challenge in just under 1 year.
Since you have 100 envelopes, and 26 paychecks, you will pull 4 envelopes every paycheck (100/26 = 3.8 so round up to 4).
This means that some paychecks you will save a little, and some you could save A LOT. Now, it is okay “cheat” a little bit with this method so that saving doesn’t feel too hard.
For instance, if you pulled envelopes 100, 85, 92, and 78 you would need to save $355 that one paycheck.
If that feels too hard or too tight, you could put one or two envelopes back and pull some new ones that are *hopefully* smaller amounts.
Regardless of which envelopes you pull out, if you can pull out 4 envelopes each paycheck and save the money listed on the envelopes, you will complete the whole challenge in less than a year!
100 Envelope Challenge Bi weekly Option #2
Option two takes even more time to complete the challenge, but will be easier on smaller and tighter budgets.
This option has you taking almost two years to complete all 100 envelopes.
Since you have 100 envelopes and 52 paychecks (over the course of 2 years), you will pull 2 envelopes (3 if you want to go a little faster and can save even more) every paycheck.
With this option you will save the whole amount over the course of 50 paychecks, so just less than 2 years total to complete the challenge.
How to do the 100 envelope savings challenge biweekly
First you will need the following items
Envelopes–You need envelopes to complete this challenge. You can get 200 and use the same 100 envelopes twice.
Marker or Sharpie–You will need to label the envelopes and using a market will make the numbers very visible.
Container— You need a box or container to store the envelopes both before stuffing them with cash AND after.
Printable tracker— make the challenge more fun and stay motivated with the visual tracker!
Step 1. You will need 100 envelopes. Label the envelopes 1-100
Step 2. Next you want to 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!
This also makes it so you aren’t saving lots of higher numbers back to back.
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. Choose which saving option you want to use to accomplish this goal–4 envelopes per pay check or 2 envelopes.
Step 4. Pull out your envelopes. Now it is time to start the challenge! Each paycheck pull out your envelopes.
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 42 written on it, then you need the fill that envelope with $42 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 Printable Tracker
Saving $5050 a HUGE incredible goal!
Doing this challenge over a longer period of time can make the challenge drag and you can lose motivation.
But we don’t want that to happen! One of the best ways to stay motivated with large goals like this is to have a visual reminder out where you can see it.
That is why we created this printable tracker for the 100 envelope challenge biweekly.
Every time you pull out an envelope and fill it with cash, also mark the amount on the tracker.
The tracker will help you stay motivated and keep up with how the challenge is going–how far you have come and how close to finished you are!
You can get the tracker here!
You will feel so accomplished when all the envelopes are filled and the tracker is fully colored in!
Just imagine how that will feel and what you could do with the money you just saved!
Will it change your life? It just might!
Final Thoughts on 100 Envelope Challenge Bi Weekly
The 100 envelope challenge really is a great way to save money in way that is fun and encouraging.
Spreading the saving out to go along with a biweekly paycheck can help make the saving easier and more manageable overall.
I hope you will give this challenge a try and start changing your life, one envelope filled at a time.
Make sure to grab a printable tracker as well so that you can stay motivated and actually reach your goal!
Happy saving!