Last Updated on November 13, 2022 by Rebecca
Are you ready to save some serious cash? This 100 Envelope Savings Challenge is great for everyone to try! The best part? It’s broken down in an easy-to-use way and can be started asap, too.
This is an excellent way to cut costs, save money, and start building your savings fund. The more money that you can save over time, the more that you’re going to get into a habit of saving. This is not only great for yourself, but it’s great for teaching others in your family that saving money doesn’t have to be hard to do.
Use this savings challenge as a way to launch and propel your savings. You’ll be excited to find out that saving money doesn’t have to be overly stressful at all.
Be sure to check out my tips on the Best Ways to Save Money Every Month that you can use year-round to save even more cash.
Envelope Savings Challenge
One of the reasons that this envelop savings challenge is so popular is that it takes all the guesswork out of the equation. You literally have to just follow the directions on what to save, and then make it happen. It’s seriously as simple as that.
How much money do you save by doing the 100 envelope challenge?
Hard to believe but this simple savings idea can have you saving $5,050 in just three months of time! That’s a ton of money in a super short amount of time.
This is also the reason that people love this activity. It shows that once you get into the mindframe of saving money, you can do so without giving it much thought.
How long does the 100 envelope Challenge take?
If you’re using the challenge as intended, you should use 1 envelope per day, meaning that this challenge will take 100 days.
Since everything has been created for you, it’s really as simple as printing out the sheets and getting started.
You will need to purchase the actual envelopes separately but they do have them at the Dollar Store so that you’re not spending a ton of money.
Recommended Books about Money and Saving
The best part about having books to help save money is that they’re really good resources to save money. They are all full of great money hacks and tips to stop overspending on items.
Sometimes having a great book can be a great way to balance out the best tips of what you’re looking for. I tend to read a lot and notice that I find a lot of great things between the pages of books.
The great thing about reading different money books that are written by different people is that you can get a whole plethora of information and some great new ideas.
I’ll find myself highlighting and bookmarking different pages and ideas because I come across things that I hadn’t thought about trying before. This is what makes books so great!
Below are some of my recommendations for books about cutting spending. I hope you find some great info in them!
The biggest thing to remember when you’re saving money is that you don’t want to put a ton of pressure on yourself. Take your time and figure out a plan that works for you. Allow yourself a little bit of grace and then come to the realization that you have what it takes to save money easily.
Just know that the more that you put off the savings game, the more money that you’re NOT going to be saving. This envelope challenge is perfect for anyone wanting to start savings, give their savings account a boost, or more.
Also, be sure that you’re mindful of the money that you’re trying to save. You can easily put away money quickly when you’re ready. Have the envelopes in an area that is in front of you so that you’re ready to start saving.
If you can see them, it will remind you to start saving and keep you on the savings game.
When you make up your mind that it’s time to put together a savings for you to have, that’s a good mindset to have. So many people never start saving because they make it some huge hurdle that they just can’t get over. Don’t be like that!
Start by printing out the Envelope Savings Challenge below and that’s all you have to worry about. You can then follow the easy directions to start saving money fast!
Are you ready to save money? I get it! It’s actually fun to see how much money you can save!
More Ways To Save Money
Here are some other ideas on how you can cut down on your monthly bills and expenses. You can use these ideas to start saving money easily and make a difference in your pocketbook.
Find out how you can take that trip or vacation without spending all your money. These easy tips can help to make travel an absolute breeze! It’s time to keep more money and still take that trip!
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About the Author
Rebecca is a certified educator in personal finance (CEPF) and a money-saving expert. As a single mom of two teens, she knows all about the importance of family budgeting and financial goal-setting. She shares her best tips about saving and managing money at Savvy Money Lessons. You can also read her work online at Bankrate, Forbes Advisor, Investopedia and other top publications. Learn more