You have probably heard of the 100 envelope challenge.
It has been making social media videos go viral!
But have you heard of the 200 envelope savings challenge?
If not, stay tuned because you just found your next awesome savings challenge!
What is the 200 envelope savings challenge?
The 200 envelope challenge is a fun way to save money that helps you build savings over time.
This challenge is a variation of the 100 envelope challenge. Haven’t heard of it? Check out the 100 envelope challenge here.
In the 100 envelope challenge, you select an envelope and save the amount listed on the envelope. You are usually pulling a new envelope (and saving that amount) every day.
This is an awesome way to save money quickly.
But what if you can’t save the amount of money listed on the envelope every day?
If one day you pull the $22 envelope, and the next day you pull the $78 envelope…well that is saving $100 in just 2 days!
And that might not be possible with your finances. Saving that much so quickly can be tricky!
So, enter the 200 envelope challenge!
You still save the same amount of money as the 100 envelope challenge (actually the 100 days challenge has you save $5050, but with the 200 envelope challenge you save $5100!!!!).
But you spread the savings out over 200 days instead.
This means it is easier on your budget, and more reasonable on a smaller budget over all.
How to do the 200 envelope savings challenge
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!
You will need 200 envelopes (or plan to use the same 100 envelopes 2 times).
Step 1. Label the envelopes 1-50 and repeat until you have four sets of envelopes labeled 1-50. Or if reusing the 100 envelopes, then 2 sets of 1-50.
Step 2. Next you want to Shuffle the Envelopes.
Rather than save the amounts from one to one fifty in order, over and over (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 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 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 $5100!!!
200 Envelope Challenge Printable Tracker
Saving $5100 in a short amount of time is an amazing, and big, goal.
One of the best ways to stay motivated with goals is to have a visual reminder out where you can see it.
That is why we created this printable tracker for the 200 envelope challenge.
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!
Final Thoughts on 200 Envelope Savings Challenge
If you have seen the 100 envelope challenge and thought that would be cool, but it feels impossible, then give the 200 envelope challenge a try!
With double the time to save, this challenge is much more manageable on a tighter budget.
And make sure to grab the 200 envelope challenge tracker to help you stay focused, motivated and in the know about your own progress in the challenge.
You got this!