100 Envelope Challenge

How would you like to save $5050 dollars in 100 days? By now some of you might have heard about the 100 day 100 envelope challenge, but for those of you who haven’t I thought I would share. This method is a great way to save money.

Take a 100 envelopes and number them 1 to 100 in chronological order. Next shuffle the numbered envelopes and put them in a box. Each day, draw an envelope out of the box and put the exact amount in the envelope that corresponds to the number written down on the selected envelope.

For example, if you pick an envelope with the number 37 on it, you put in $37 dollars.

This method works. At the end of a 100 days you will have saved $5050 dollars! That is just a little over 3 months.

What’s great about this method is you can change it up. Lets say, you don’t have a lot of money to put back everyday. Instead of putting money in an envelope everyday, try once a week. In a 100 weeks, that is less than 2 years, you will have $5050 dollars.

What’s even better is if you have 2 people in the family that can put money in the envelopes. Try alternating weeks. This way you are only contributing to the envelopes twice a month, or every other day, which ever method you prefer.

There are so many creative ways to save money. I knew one lady that would save her $5 bills every year, and each year she would take a vacation with that money. I also heard of a man that saved every .05 cent or nickel that he received and he would put them in jars. I do not know how long it took him, but this very same man drove up to a car dealership and bought himself a brand new pick up truck with his jars of nickels. I guess it took the car dealership a while to count all those nickels cause it made the local newspaper! 😉

Are you saving any money today for those rainy days or for a beautiful vacation?

Money Talks


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2 thoughts on “100 Envelope Challenge

  1. Interesting! So this is also a thing over there! 🙂

    We’ve had this here in the Philippines too, with ordinary people saving around 20 to 100 Philippine pesos (40 cents to about $2) per day depending on capacity.

    By the end of the year, they get a maximum of P36,500 ($730). Many financial gurus here advise that as a good way to start off with savings.

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