Use a separate high-interest savings account. The point is to get into the habit of saving money every day, no matter how small the amount If $1 is too much, start with quarters or even pennies. If this is the case for you, there are still ways to participate in the challenge. I understand that not everyone has $5000 lying around to save. How to Save $5000 in 100 Days if I Don’t Have the Money? This is a great way to teach them the importance of saving money. Get your spouse or kids involved in the challenge. You can decorate them, use different colors for each day, or even make your own out of construction paper. Once the money is in the envelope, it’s off-limits until the 100 day saving challenge ends. Seeing your envelopes disappear from the first box is super satisfying and will give you that push to keep saving.One with your empty envelopes and one for your envelopes once they are filled. You don’t want to lose track of them or have them stolen! It’s best to have two boxes or containers for your envelopes. Okay, so we all want to walk into a challenge and be successful, right!? Here are a few tips to help you have a successful $5000 savings challenge. What do you think? Are you ready to give this challenge a try? If so, grab our free 100 envelope challenge tracker below and get started! Useful Tips for Success That’s it! After 100 days, you’ll have roughly $5050! Use the tracker to color in an envelope each day you put money in an envelope. Make sure you grab our free printable 100 day envelope challenge tracker below so that you can track your progress. Track your progress with our free printable 100 envelope challenge. However, if you want, you can randomly choose an envelope from your container to fill.Īll that matters is that you are saving money each and every day! It doesn’t have to be complicated. To keep things simple on day one, you can fill envelope 1 with $1. Pick an envelope from the container and fill your envelope with the amount on the front. However, if you carry cash on you, you might not have to visit the atm as often or at all. Choose how often you will visit the bank or local atm for cash. You can use any denomination, but $1 bills work great. Now it’s time to head to the bank and get some cash. The more fun you have with the process, the more likely you’ll stick to this envelope challenge. Feel free to add stickers or whatever embellishments you choose! When labeling each envelope, feel free to get creative with them. So, the first envelope will be labeled “$1,” the second envelope will be “$2,” and so on. Next, label each envelope with a number from $1- $100. However, the cheapest option is to buy 100 white envelopes in bulk. You can use any envelope, but getting ones with different colors or patterns might be fun! This will help you keep track of which envelope is for which day. 100 Envelope Money Challenge (Step By Step Guide)įirst, get yourself a stack of 100 envelopes. That’s it! It’s super easy to get started. Grab our free 100 Envelope Challenge Chart A place to keep your envelopes safe (a box, a drawer, etc.) To do the 100 envelope challenge, you will need the following: The best thing about the 100 day envelope challenge is that you need very few supplies to start. What Supplies are Needed for the 100 Day Envelope Challenge?
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