Have you heard of the 100 envelope challenge?
If you have seen budgeting or money saving videos on youtube or social media, then you have probably come across a video of the 100 envelope challenge.
Today, I want to share with you a fun twist to that challenge.
Say hello to the 50 Envelopes Doubles Challenge.
What is the 50 Envelope Doubles Challenge?
Simply put, this challenge is a fun way to help you save money in a short amount of time.
It is similar to the 100 envelope challenge. However, you only use 50 envelopes in this version.
In the original 100 envelope saving challenge, you label the envelopes 1-100 and then save the amount of money on that envelope.
In the 50 envelope challenge, the numbers only go from to 1-50.
This means that the challenge is shorter, and therefore easier to do.
You can read about the original 50 envelope challenge here.
But this is a double challenge–meaning the amount for saving each envelope is double.
So instead of labeling the envelopes 1-50, you label them 2-100, skipping every other number.
How does the 50 Envelope Doubles challenge work?
To complete this version of the 50 envelope challenge, you need a few supplies.
- Envelopes to store money
- Two boxes to store the envelopes
- A pen to write the numbers on the envelope.
For this challenge, you are going to write the numbers from 2-100 on the envelopes, but only write the even numbers (2, 4, 6, 8, etc. all the way to 100).
Once you have labeled the envelopes, decide if you want to pull the envelopes from the box in order, or pull them randomly.
If you want to pull them in order, then simply put them in the box in number order.
If you want to pull them randomly, then shuffle all the envelopes together before putting them in the box.
When you are ready to save money in the challenge, pull out an envelope, stuff it with the amount listed on the envelope.
Then seal the envelope and put the newly filled envelope into the second box for storage until the end of the challenge.
You can choose to pull an envelope every day, every week, every 2 weeks–whatever works with your goal and your finances.
Once you have filled all the envelopes, you will have saved $2550!!! That is an awesome amount saved, in just a little bit of time.
50 Envelope Doubles Challenge tracker
To help make the challenge motivating and more fun, we created a printable tracker for this challenge.
This will make the challenge easier because you will be able to see how far you have come and that can really help keep you going!
Every time you stuff an envelope, color in the corresponding envelope symbol on the tracker.
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.
Plus, if you are someone who wants to do this challenge, but save digitally (without cash) this is the perfect way to keep track of your progress.
Final Thoughts for 50 Envelope Doubles Challenge
If you are ready to jump start your savings goals, and do so in a fun, motivating way, then the 50 envelope doubles challenge is a great way to get started!
Make sure to grab your printable version here and then start saving!!