The 100 Envelope Challenge: Easy and Fun Way to Change Your Life!

Inside: The 100 Envelope Challenge is a popular money saving challenge that has gained widespread popularity in recent years. The envelope money challenge is a fun and creative way to save money as it can be tailored to suit different budgets and financial goals.

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 fun 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!!

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

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

What is the 100 Envelope Challenge?

The 100 day envelope challenge is a straightforward hack to start saving money.

You start 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?

Is the 100 envelope Challenge worth it? My Personal Experience

I recently started the 100 day envelope challenge because I wanted to save more money. This was a great way to kickstart my short term goal.

My kids loved to pull out the envelope for that day and stuff it with cash. Once I was done I would close the envelope and stamp it with a sticker.

As a very visual person, I found that this challenge was incredibly rewarding and gave me a sense of accomplishment.

• I was able to see my progress as I went along, and it was nice to have a visual reminder of how far I had come.
• I was also able to stay on track with my saving goals and could adjust if needed.

On the downside, we don’t have cash around as much.

So this was the hardest part of the envelope saving method. Consequently, I opened a separate savings account, and I could easily make a transfer from my checking account. This allowed me to stay on top of my savings without worrying about having enough cash.

When I was a waitress, this challenge would have been a fun way to save money with my tips! Oh, what an inspiring money-saving journey that would have been!

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.

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

How the 100 day Envelope Savings Challenge Works:

This is how to do the 100 envelope challenge. 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.

• Step #1 – Gather your supplies
• Step #2 – You will write the numbers 1-100 on blank envelopes.
• Step #3 – Each day or whenever you choose to pick an envelope, you will stuff the envelope with that much cash.
• Step #4 – Track your progress.
• Step #5 – Save $5050 in 100 days or 100 envelopes.

Pretty easy, right?

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

Envelope Challenge Math

Are you a little worried about having to save a lot in one week? Need to know how to calculate 100 envelope challenge, here you go.

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 consistently, 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 Habits.

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!

In fact, you can use this how to save 5000 in 3 months chart.

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

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

1 – 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.

2- 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!

3 – Concept of Finding Money to Save

Another drawback of this challenge is if you are struggling to live 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?

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:

• Your 52 Week Money Saving Challenge + Free Printable
• 50 Envelope Challenge to Save $1275 and Follow Through!
• 200 Envelope Challenge – A Spin to Save at Least $5K

Shop for Supplies Needed for the 100 Day 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 envelopes work, but colored envelopes make 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 finished 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

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.

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 for tracking 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

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 a 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

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

Are You Ready for these Envelope Saving Challenges?

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:

• 30 Day Money Challenge: How to Make Your Money Work For You
• Save 5000 in a Year with this Easy $5,000 Savings Challenge

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

• 20 Simple Money Saving Challenges to Save More
• 15 Mini Savings Challenge Printables To Save More Money

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