100 Envelope Challenge – Best $5050 [Money Saving Plan]

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Let’s be honest… sometimes you just have to make saving fun because saving money for another day can get kind of boring after a while.

Here at our site, Money Bliss, we have plenty of money saving challenges to help you find the perfect one for you.

Today, we are going to bring you one that is very unique.

Have you seen the popularity of this money saving challenge with envelopes taken off on TikTok? If not, then you are missing out.

This saving hack has been going viral and does not seem to be going away anytime soon. There is so much interest in this information!!

The data shows that people don’t save, so you might as well create your own target goal!

In this article, we will break down everything you need to know to start saving money today.

Here is the 100 envelope challenge you have been waiting for! With the money saving challenge you can save 5000 or 10000 in 100 days. This saving money hack will break the charts!

What is the 100 Envelope Challenge?

The premise of the 100 envelope saving challenge is a straightforward hack to start saving money.

You start off with 100 envelopes and label them with the numbers 1 through 100. Then place all of the envelopes in a special place like a container box, basket, file folder, or bag.

Each day, you will choose a new envelope, and you must put that amount of money in the envelope.

Real Life Example For With 100 Day Envelope Challenge

For example, if you draw the number 33, then you would put $33 into that envelope and seal it.

Then the next day, if you draw the number 72, you would put $72 into that envelope and seal it. Then, continue this challenge for over 100 days.

And the best part is by the end of the 100 envelope challenge, the goal is to save $5,050.

Now, after 100 days, I would call saving $5,000 a huge win. Now, do I have your interest?

100 Envelope Challenge Chart

How much money do you save with the 100 envelope saving challenge?

You need to the numbers behind everything so you truly understand how the 100 day money challenge is set up.

Let’s break down how the math works with this 100 envelope challenge chart. See the image below for a visual layout of the information.

100 Envelope Challenge Math - Visual Layout

At the end of the 100 day money challenge, you will save $5,050!!

How the 100 day Envelope Savings Challenge Works:

The premise of the 1-100 day envelope saving challenge is simple.

The 100 day envelope challenge is a savings challenge in which you are challenged to save a specified amount of money within 100 days.

You will write the numbers 1-100 on blank envelopes. Each day or whenever you choose to pick an envelope, you will stuff the envelope with that much cash.

Pretty easy, right?

Envelope Challenge Math

Are you a little worried about having to save a lot in one week?

Here is the math if you randomly pick an envelope each day:

  • Most you save in one week: $679
  • The least you save in one week: $371

Even if you do not finish the entire 100 days and quit on day 50, you will save at least $950. More than likely, it will be a higher amount (unless you are great at just picking numbers under $50).

This challenge is great for somebody who gets paid with cash on a consistent basis, like servers, bartenders, drivers, caddies, etc – any tipped employee.

Find more money saving charts.

Is the 100 envelope challenge hard?

In fact, the 100 envelope challenge is extremely simple – just number the envelopes and shake them around to randomize their order.

You can use this method to save for anything – a vacation, a new car, or even your retirement!

This is a great way to exercise your brain and challenge yourself.

Advantages of 1-100 Envelope Challenge

Most importantly, the 100 envelope challenge is a great way to save money.

This 1-100 saving plan is simple and easy to follow. You can save a lot of money in a short period of time with this challenge.

1 – Save Money for a Purpose

The challenge is a great way to save for your emergency savings, pay off your debt, or save for a vacation.

You can start the challenge at any time and with any amount of money. All you need is 100 envelopes and some willpower!

2- Makes Savings A Habit

One of the advantages of building good habits is that they become easier and more automatic with time – this is proven by my favorite book, Atomic Habit.

Habits are a helpful thing, as they can make our lives a lot easier. When we build good habits, we’re more likely to do the same things in the future without having to think about them.

That is why the 100 envelope challenge is amazing. With each envelope, you are building a habit of saving money and paying yourself first.

3- Improve your Cash Situation in 3 Months!

This challenge helps you save money in a short period of time.

For 100 days (or envelopes), you are focused on saving money. A little bit at a time.

Also, it helps you become more mindful of your spending. That is a win-win!

4 – Easy to Follow with No Excuses

No advanced math skills are needed for this one.

The plan is simple to follow and the cash is easy to access.

As such, it would be difficult to come up with reasons why you are unable to complete this 100 day money envelope challenge.

5 – Restart if needed

Too many times, one thing happens and it completely derails our plans.

If your financial situation changes, you can stop and restart the challenge when you can. This makes it a great option for people who want to save money but are nervous if their finances change.

Drawbacks of the 100 Day Money Challenge

Photo of a lady counting cash for her 100 day money challenge.

There are a few drawbacks, just like there are with any money saving challenge.

Access to Cash

The first one is if you do not have access to cash readily. This can cause a problem to stuff your numbered envelopes with a dollar each day.

If you manage your finances digitally and don’t carry various dollar bills around, then it is much harder for you to find ways to actually physically stuff those envelopes with cash.

Figuring out the Budget with High Number Days

Another drawback of the challenge is what would happen if you picked #98 and # 99 on back-to-back days, you must save $197. That may be a challenge to have the extra cash available to do so. Especially if you pick #97 on day 3!

For instance, even for a tipped employee as a server who maybe makes $160 in a shift. That means over half of their cash would have to go straight to the envelope challenge.

Change to 200 Envelope Challenge – A Spin to Save at Least $5K!

Concept of Finding Money to Save

Another drawback of this challenge is if you are struggling on living paycheck to paycheck, then attempting this challenge may just get you down and defeated. There is a possibility you may get behind on stuffing the envelopes, as you would randomly pick them.

Instead of being disappointed, you need to change the frequency of picking up an envelope every day to maybe picking envelopes one to three times a week; thus, stretching out the 100 days further.

100 Envelope Savings Challenge will Be Helpful

Even if you only make it, thirty percent of the way through the challenge… guess what, you have 30% more saved now than you did without doing the challenge.

Overall, I truly believe that any way to make saving money fun is well worth the effort.

If you make it to 65% of the way, then you are saving more than you would without the challenge.

How does envelope savings work?

Picture of money to show how does 100 envelope saving challenge  work.

With any of the envelope challenges, they are just a money saving challenge. A fun way to save money! A plan to follow to keep you accountable. A target to achieve!

Envelope savings is a tried and true way to save money.

It’s simple, it’s straightforward, and it works. You put your money in an envelope and don’t spend it until the challenge is complete. This challenge can be a fun way to get to know your spending habits better while saving money.

The savings are real, and you will be surprised at how much you can save by following this challenge for even just a few months!

Plus if you put the money in a high interest saving account, then you are adding more interest and dollars on top!

Many people prefer one of these challenges instead:

Shop for Supplies Needed for the 100 Day Envelope Money Saving Challenge

Photo of someone gathering the supplies for the 100 envelope money saving challenge

The supplies needed for the 100 Day Challenge are not complicated and you should have most of them around your house. If not, you can make a list and shop for them.

Supplies Needed:

  • Envelopes – Plain old white envleopes work, but colored envelopes makes everything more fun.
  • Sharpie or Marker Pens – You need something to write with in order to keep track of those envelopes.
  • Cash – You need to figure out where you have the extra cash to stuff those envelopes. You may need to run to the bank quite a few times.
  • Stickers or Rubber Stamps – To make sure you don’t cheat and reopen a finsihed envelope.
  • Box or Container – Just make sure you have enough space for your envelopes!

Or Just Shop for this handy dandy premade Money Saving Box!

Related Read: Best Cash Envelopes – Pick Your Favorite

DIY 100 envelope challenge tracker

Don’t want to make your own? Then, pick up these handmade envelopes from Desire Your Curves. Check out these 100 mini envelopes!

Also, it is super helpful to have a free printable 100 day challenge to keep you accountable! Don’t worry… we have you covered!

At the bottom of the post, you have the opportunity to download the image of the free 100 envelope challenge PDF.

100 Envelope Challenge Box

Right now, you are wanting a100 envelope challenge box to keep your cash stuffed envelopes.

Here are some great options to make sure you reach your goal.

Printable 100 envelope challenge

The 100 Envelope Challenge is a printable tracker chart that you can download and print. Use the  100 envelope challenge tracker to save $5,050. Make sure to download the Printable 100 envelope challenge.

The 100 Envelope Challenge is a printable tracker chart you can download and print. Go to our resource library (for our email subscribers) to print the image.

It details how to set up an envelope challenge with your friends, family members, or co-workers.

The idea is that in the course of six months you will have earned $5,050 in savings by doing this challenge!

This 100 envelope challenge tracker is a useful tool to track the progress of your endeavor. You want to use a 100 envelope challenge tracker to keep you motivated during the next six months and reach your goal.

It can be printed or colored digitally and allows you to stay on top of how much money you need each day or each week.

100 Envelope Challenge App

Picture of someone completing the 100 day money challenge digitally.

As of right now, there is no $100 envelope challenge app developed to make this cashless. However, you can do this challenge digitally and we will show you how to do it virtually.

In case you utilize a cashless envelope system, you may be wanting to do this challenge, but are not sure the best way to do it.

Here is how to do the 100 day challenge digitally:

  • Instead of using 100 envelopes, you could write on 100 pieces of paper, fold them up, and put them into a bag or box.
  • Every day you would draw out a new number (just like the normal challenge).
  • Make sure you have separate savings account for the challenge.
  • Instead of placing cash into the envelopes, you will move money from your checking account to that separate savings account.

For example, on the first day, you pull out the number 53. Well, that means you would move $53 from your checking account into your newly open 100 envelope challenge savings account.

You are taking money from your normal spending and moving it away and into a savings account.

That way you are setting aside money, virtually into a different account.

100 Envelope Challenge Variations

Picture of a pig and coins for the various 100 envelope challenge variations.

Not everyone can complete the 100 envelope saving challenge as we discussed in this post.

So, here are some alternatives to still save money using a concept similar to envelopes and still target saving $5000:

  • 100 envelope challenge weekly – Pull envelopes each week instead of daily.
  • Save $50 for every envelope.
  • Give yourself an hour and see how long it takes before opening your last envelope.
  • 10k in 100 days envelope challenge (detailed below).
  • 50 envelope challenge is a variation on the 100 envelope challenge.
  • Pull envelopes on payday.

It’s up to you how long it takes to get there and if you want to take some time off in between while continuing to spend less than your original budget.

Higher income? Then check out the 10k in 100 days envelope challenge. This accelerated saving challenge is perfect for you.

Honestly, the goal is to save $5000. How you use this information and reach your target dollar amount is completely up to you!

100 Day Envelope Challenge FAQs

If you’re looking for a free printable version of the 100 envelope challenge chart, you can find it in our free resource library.

This section provides our readers with plenty of printables they can enjoy.

Make sure you subscribe to our email newsletter.

Yes, you can do the 100 envelope challenge twice a week.

Instead of picking an envelope each day, you would pick an envelope two times a week. Then, you would finish the challenge in one year.

The premise of the 100 envelope challenge is a money making challenge that allows you to save money and stay motivated.

Yes, you can complete the 100 envelope challenge biweekly. You will have more time to complete the challenge this way.

Instead of completing the challenge in 100 days, it will take you 200 weeks. To shorten the time, you can pick multiple envelopes with each biweekly paycheck.

Find more biweekly money saving challenges.

The 1-100 envelope challenge is a social media trend where participants are asked to create an envelope with a specific number of envelopes inside of it.

At the end of the challenge, you will save $5050.

This assumes you follow the traditional 1-100 day envelope challenge with no variations.

The 100 Day Envelope Challenge will take 14 weeks and 2 days to complete.

Or about 3.5 months.

The goal of the challenge is to prove you can save money and to see how far you can push yourself.

When you complete the 100 day envelope challenge in its entirety, you will have $5,050.

Yes, you can complete the 100 envelope challenge UK, Africa, or any other country.

You can live wherever you want to participate. Since you complete this challenge on your own, you can adjust the challenge as you see fit.

Are You Ready for these Envelope Saving Challenges?

Photo of a lady being encouraging on completing the 100 envelope challenge on your money journey.

All in all, this is the one great thing that social media can offer – maybe even providing information that can change the dismal data on saving money.

It brought around a brand new challenge for you new hack for you to start saving money.

The 100 day envelope challenge is a fun goal to kickstart your money saving journey.

The 100 day money envelope challenge may be too aggressive for what you can do right now, so here are great options to build those saving habits:

If you like the idea of this challenge here are some other money saving challenge ideas that you may enjoy more:

Know someone else that needs this, too? Then, please share!!

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