![]() ![]() Once I made the transfer, I'd go to the sheet and check the box next to the day I completed. Each day, I'd transfer the money at the same time every day (I set an alarm) so I wouldn't forget. Then I used this 100 day envelope challenge sheet I build to track my progress. You should be able to do this penalty free given the dollar amounts are smaller. I love the analog, creative and hands on nature of the cash envelope system but for me it was just too much of a barrier to save.įirst, instead of pulling out cash every day, I assigned separate savings account for this challenge and transferred money into the account daily. So when I did the 10k savings challenge, I did the same process but decided to take a more digital approach. The Digital Approach to the $10k in 100 days Challenge By adding an element of surprise to the challenge, you can make the process of saving more interesting and engaging, while still achieving your overall savings goal at the end of the 100 day money saving challenge. Instead of putting the days on the envelopes, you just put the amounts. Instead of following a set savings plan, you can pick an envelope randomly and select a savings goal for each day of the challenge. One of the reasons the 100 day challenge went so viral on Tik Tok was that people would pick their envelopes randomly so they would never know how much they'd need to save for that day. Additionally, you may want to set reminders or alerts on your phone to remind you to save each day. ![]() This will help you stay motivated and visually see your progress everyday. It's also helpful to have a calendar or planner to mark off each day as you complete it. ![]() I've built this simple google sheet to track your daily savings. Next, you will need a spreadsheet or piece of paper to help you keep track of your savings progress. You can purchase envelopes from a stationery store, Amazon, Etsy or use envelopes you have at home. First, you will need 100 envelopes, a pen or marker, and a jar or container to store your envelopes. To begin the 10k challenge in 100 days, there are a few tools you will need to help you stay organized and motivated. Tools Needed to Organize Your 100 day Envelope Challenge For the $10k in 100 days, you'll actually save $10,100. With the standard 100 day saving challenge, you'll save you save $5,050. How Much Money Do You Save With the 100 Envelope Challenge? For example, on the first envelope, you would write "Day 1: $2" and on the second envelope "Day 2: $4", and so on all the way until Day 100- $200.īy the end of the 100 days, you will have saved $10,100! on each envelope, you will write the day number and multiply it by 2. Like the standard envelope money saving challenge, you will need to divide your goal into 100 parts, but instead of writing $1, $2, $3, etc. The 10k in 100 Days Envelope Saving Challenge is a variation of the envelope money saving challenge, designed to help you save $10,000 in 100 days. How does the 10k in 100 Days Envelope Saving Challenge Work? By the end of 100 days, you would have saved $5,050, which can be used towards whatever MO savings step you are at. You can then store the envelopes in a container until the end of the challenge. For instance, on the first envelope, you would write "Day 1: $1" and on the second envelope "Day 2: $2", and so on all the way to Day 100: $100.Įach day, you take the envelope for that day and put the designated amount of cash inside. On each envelope, write the day number and the amount you need to save for that day. To get started and do this the analog way, you will need 100 envelopes, a pen, and a container to store your envelopes. The idea behind this challenge is to divide your savings goal into 100 parts and save a set amount each day for 100 days. The challenge wentĪnd continues to be a popular way to save today. ![]() The 100 Envelope Challenge is a great way to save money. I'll also include a savings tracker fro free so you can track your progress along the way to transforming your financial life! In this blog post, we'll explore the envelope money saving challenge, how it works, and provide tips and strategies to help you reach your savings goal. By following this method, you can save $10000 in 100 days, which can go towards paying off debt, creating an emergency fund, or simply just accelerating your path toįinancial independence and retiring early This challenge involves using envelopes to allocate money towards specific savings goals and saving a certain amount each day. The envelope money saving challenge is a simple and effective way to help you save money quickly and easily. Struggling to save money? The envelope saving challenge can help you save 10k in 100 days! ![]()
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