How to Do the 100 Envelope Challenge and Save $5000 in 100 days
It’s great when you can save and have fun at the same time. Saving $5000 in 100 days or 3 months is a great goal. What can an extra 5k do for you?
The 52-week saving challenge is a common way to save up to 10k in a year but what is the 100 Envelope challenge?
I saw this saving hack on Pinterest and had to try it out! If you follow these exact steps you’d be saving exactly 5050 dollars by the end of 100 days.
This saving money challenge is great for anyone who wants to save $5000 fast. The 100 envelope challenge to save $5050 in 3 months has been popular lately.
Think about paying off a 5k debt or even saving up for a deposit on your dream home. The 5k saving challenge in 100 days will help you achieve this in a short time.
What is the 100 Envelope Challenge?
The 100 envelope challenge is a saving strategy to easily save $5050 in 100 days. You’ll need to purchase 100 envelopes and label each from numbers 1-100. To make it excited, you need to shuffle the envelopes and then place them into a box neatly.
How Does the 100 Envelope Challenge Work?
After shuffling and adding them to a box, you’ll select an envelope from the box each day and whichever number you choose, that’s the amount of cash you’ll add to the envelope. Sounds fun right?
For example, if you’ve chosen the number 3, you’ll add $3 to that envelope or if you’ve chosen the number 26, you’ll add $26 to that envelope. This should be continued every day until all the envelopes are completed.
Follow these 7 steps and you should save $5000 in 100 days.
How to save $5000 in 3 months?
Similar to the saving 5000 dollars in 100 days challenge, you can do the same in 3.5 months. To make it work, it’s recommended that you save daily or weekly. If you want to save $5000 in 100 days or save 5000 dollars in 3 months, it’s a commitment that comes with discipline.
How to Try the 10k in 100 days Envelop Challenge
If you want to double your savings and have 10k in 100 days, all you need to do is double your $5000 savings. For each envelope draw, you will multiply that by 2. What would 10k in 100 days look like for you? Write down all your savings and ensure that you keep motivated to save 10000 in 100 days.
How to ensure your $5000 saving Challenge in 100 days Goes well?
Saving $5000 in 100 days can be a tough challenge because it takes commitment even on the days that you may want to take a break or don’t have enough money. Always ensure you save something even on the days you don’t have enough. Consider an opinion to make 5000dollars a month or even fast to help fund your savings.
Here are some useful guides I put together so you can always have money for your $5000 saving challenge in 100 days