100 Envelope Challenge: How to Save $5,050 in 100 Days

The 100 Envelope Challenge has taken TikTok by storm, with countless people using this creative savings method to put away $5,050 in just 100 days. This viral challenge has helped many individuals work towards their financial goals, whether it’s paying off debt, building an emergency fund, or saving for a dream purchase. The best part is that you don’t need fancy materials—simple envelopes will do the trick.

colorful envelopes

The popularity of the 100 Envelope Challenge lies in its simplicity and the tangible progress participants can see each day. Unlike other savings plans that may feel abstract or distant, this challenge provides daily, visible evidence of your growing savings. Plus, the flexibility of the amounts allows it to fit into various income levels and budgets. Let’s dive into how you can start this challenge and see the benefits for yourself.

Key Takeaways

  • The 100 Envelope Challenge is a straightforward method to save over $5,000 in 100 days by saving varying amounts daily.
  • This challenge promotes financial discipline, breaks down a large goal into manageable tasks, and keeps you motivated through daily progress tracking.
  • By staying consistent and using creative ways to find extra cash, you can successfully complete the challenge and build a substantial savings fund.

What is the 100 Envelope Challenge?

The 100 Envelope Challenge is a creative savings method designed to help individuals save a substantial amount of money in a short period. The concept is straightforward: you label 100 envelopes with numbers ranging from 1 to 100, and each day, you draw an envelope and save the amount of money indicated by the number on the envelope.

How it Works

To start the challenge, you’ll need 100 envelopes, a pen, and a safe place to store your envelopes and cash. Here’s a step-by-step guide to get you started:

  1. Label each envelope with a number from 1 to 100.
  2. Mix the envelopes and place them in a box or container.
  3. Each day, randomly draw one envelope from the box.
  4. Save the amount of money written on the envelope. For example, if you draw envelope number 42, you save $42 that day.
  5. Continue this process daily until all envelopes have been drawn and filled.

By the end of the 100 days, you will have saved a total of $5,050. The challenge is designed to make saving fun and manageable by breaking it down into smaller, daily tasks.

Benefits of the 100 Envelope Challenge

The 100 Envelope Challenge offers several benefits that make it an attractive option for those looking to boost their savings.

Financial Discipline

The challenge encourages you to save money regularly, helping you develop better financial habits and discipline. By committing to save a specific amount each day, you become more mindful of your spending and saving patterns. This daily habit can spill over into other areas of your financial life, leading to more responsible money management overall.

Achievable Goals

By breaking down the savings goal into daily tasks, the challenge makes it easier to manage and achieve your financial objectives. Each day’s task is small and manageable, which helps prevent the feeling of being overwhelmed by a large goal. This method also allows you to adjust your savings on days when you have more or less disposable income, keeping the process flexible and attainable.

Motivation and Accountability

Tracking your progress and seeing the envelopes fill up provides a sense of accomplishment and keeps you motivated to reach the final goal. This visual representation of your progress can be highly motivating, especially as you see your efforts add up over time. Additionally, sharing your progress with friends or family can create a support system that helps you stay accountable.

Step-by-Step Guide to Completing the 100 Envelope Challenge

Completing the 100 Envelope Challenge requires some preparation and consistency. Here are the steps to follow:

Materials Needed

To begin the challenge, you’ll need the following materials:

  • 100 envelopes
  • A pen or marker
  • A box or container to hold the envelopes
  • A safe place to store the saved money

You might also want to consider using different colored envelopes to make the process more visually engaging. Some participants use stickers or labels to decorate their envelopes, adding an element of fun and personalization to the challenge.

Setting Up the Envelopes

  1. Label each envelope with a number from 1 to 100.
  2. Shuffle the envelopes and place them in the box or container.

You can involve family members in the setup process, making it a collaborative effort. This can be particularly effective if you’re teaching children about the importance of saving money.

Daily Savings Routine

Incorporate the envelope drawing into your daily routine to ensure you stay on track.

  1. Each day, draw one envelope from the box.
  2. Save the amount of money indicated on the envelope.
  3. Place the money in the envelope and store it in a safe place.

Consider setting a specific time each day for drawing your envelope, such as in the morning before work or in the evening after dinner. Consistency will help reinforce the habit and ensure you don’t forget.

Tracking Progress

Create a chart or use a savings tracker to mark off each envelope as you fill it. This visual representation of your progress can help keep you motivated.

You can find printable trackers online or create your own using a spreadsheet. Some people also use apps designed for tracking savings goals, which can provide reminders and detailed reports on your progress.

Tips for Success

To ensure you stay on track with the 100 Envelope Challenge, consider these helpful tips:

Stay Consistent

Consistency is key to completing the challenge. Set a reminder or incorporate the envelope drawing into your daily routine. Using a calendar or planner to mark each day you complete can also help keep you on track. If you find yourself struggling, try breaking down the task even further, such as setting aside time each week to prepare for the upcoming days.

Find Extra Cash

Look for ways to find extra money to meet your daily savings goals, such as cutting back on non-essential expenses, selling unused items, or taking on small side jobs. You might be surprised how small changes, like skipping a daily coffee purchase or cooking at home more often, can add up and help you meet your savings goals.

Dealing with Setbacks

If you miss a day or face a financial setback, don’t get discouraged. Adjust the amounts saved or extend the challenge timeline if necessary to stay on track. Remember, the goal is to develop better saving habits and reach your financial goals, even if it takes a little longer than planned.

Maximize Your Savings

Consider putting the money you save into one of the top high-yield savings accounts. The interest you earn will add up over time, which can help you make even more progress towards your savings goal.


The 100 Envelope Challenge is a simple and effective way to save $5,000 in 100 days. By breaking down the savings goal into manageable daily tasks, this challenge promotes financial discipline and makes saving money achievable.

Starting the 100 Envelope Challenge can help you build a substantial savings fund quickly. Embrace the process, stay consistent, and enjoy the financial benefits.

Begin your 100 Envelope Challenge today and see how quickly you can reach your savings goals. Share your progress and experiences with others to stay motivated and inspired.

Frequently Asked Questions

What if I can’t save the specified amount each day?

If you can’t save the amount on a given day, try to make up for it on another day or adjust the amounts to fit your budget. Flexibility is important; the challenge is about creating a habit of saving rather than rigidly sticking to specific amounts every single day.

Can I modify the challenge to fit my financial situation?

Yes, you can adjust the amounts or extend the timeline to suit your financial situation. For example, if 100 days feels too short, try extending it to 150 or 200 days. Similarly, if the daily amounts are too high, you can start with lower numbers and gradually increase them as you become more comfortable with saving.

What should I do with the money once I’ve saved $5,000?

Consider using the saved money to pay off debt, build an emergency fund, or invest in your future. If you have specific financial goals, such as purchasing a home or going on a vacation, allocate the saved funds towards those goals. Consulting with a financial advisor can also help you make the best decision for your situation.

Are there any digital alternatives to using envelopes?

Yes, you can use digital budgeting tools or apps to track your savings instead of physical envelopes. Many budgeting apps allow you to create digital “envelopes” or categories for your savings goals, making it easy to track your progress and stay organized.

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