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How would you feel if you were able to save an extra $5,000+? I think for most people, $5,000 could really make a difference in their financial life.
You could pay off some debt, get started with investing, or even just use the money to help offset your regular expenses.
But how do you even save $5,000?!
There is something called the 100 envelope challenge that can help you save $5,050 in one year (or in a 100 days if you’re feeling ambitious).
The 100 envelope challenge has gone viral on TikTok recently, and I’ve also seen it talked about on Twitter and Facebook.
If you have a big savings goal and you’re interested in learning more about this challenge, keep reading!
What is the 100 Envelope Challenge?
For the 100 envelope challenge, you take 100 envelopes and label each one from 1 – 100.
Each week you will pull two envelopes randomly and save the amount that’s labeled on each envelope. So if you pull #13 and #54, you will save $13 in one envelope and $54 dollars in the second envelope.
You keep repeating this process each week for one year, and after filling up each envelope you will have saved up $5,050!
How much do you save with the 100 envelope challenge?
If you’re interested in doing the classic 100 envelope challenge, you will save $5,050.
100 Envelope Challenge Chart
| Envelope | Amount Saved | Total Saved |
|---|---|---|
| 1 | $1 | $1 |
| 2 | $2 | $3 |
| 3 | $3 | $6 |
| 4 | $4 | $10 |
| 5 | $5 | $15 |
| 6 | $6 | $21 |
| 7 | $7 | $28 |
| 8 | $8 | $36 |
| 9 | $9 | $45 |
| 10 | $10 | $55 |
| 11 | $11 | $66 |
| 12 | $12 | $78 |
| 13 | $13 | $91 |
| 14 | $14 | $105 |
| 15 | $15 | $120 |
| 16 | $16 | $136 |
| 17 | $17 | $153 |
| 18 | $18 | $171 |
| 19 | $19 | $190 |
| 20 | $20 | $210 |
| 21 | $21 | $231 |
| 22 | $22 | $253 |
| 23 | $23 | $276 |
| 24 | $24 | $300 |
| 25 | $25 | $325 |
| 26 | $26 | $351 |
| 27 | $27 | $378 |
| 28 | $28 | $406 |
| 29 | $29 | $435 |
| 30 | $30 | $465 |
| 31 | $31 | $496 |
| 32 | $32 | $528 |
| 33 | $33 | $561 |
| 34 | $34 | $595 |
| 35 | $35 | $630 |
| 36 | $36 | $666 |
| 37 | $37 | $703 |
| 38 | $38 | $741 |
| 39 | $39 | $780 |
| 40 | $40 | $820 |
| 41 | $41 | $861 |
| 42 | $42 | $903 |
| 43 | $43 | $946 |
| 44 | $44 | $990 |
| 45 | $45 | $1035 |
| 46 | $46 | $1081 |
| 47 | $47 | $1128 |
| 48 | $48 | $1176 |
| 49 | $49 | $1225 |
| 50 | $50 | $1275 |
| 51 | $51 | $1326 |
| 52 | $52 | $1378 |
| 53 | $53 | $1431 |
| 54 | $54 | $1485 |
| 55 | $55 | $1540 |
| 56 | $56 | $1596 |
| 57 | $57 | $1653 |
| 58 | $58 | $1711 |
| 59 | $59 | $1770 |
| 60 | $60 | $1830 |
| 61 | $61 | $1891 |
| 62 | $62 | $1953 |
| 63 | $63 | $2016 |
| 64 | $64 | $2080 |
| 65 | $65 | $2145 |
| 66 | $66 | $2211 |
| 67 | $67 | $2278 |
| 68 | $68 | $2346 |
| 69 | $69 | $2415 |
| 70 | $70 | $2485 |
| 71 | $71 | $2556 |
| 72 | $72 | $2628 |
| 73 | $73 | $2701 |
| 74 | $74 | $2775 |
| 75 | $75 | $2850 |
| 76 | $76 | $2926 |
| 77 | $77 | $3003 |
| 78 | $78 | $3081 |
| 79 | $79 | $3160 |
| 80 | $80 | $3240 |
| 81 | $81 | $3321 |
| 82 | $82 | $3403 |
| 83 | $83 | $3486 |
| 84 | $84 | $3570 |
| 85 | $85 | $3655 |
| 86 | $86 | $3741 |
| 87 | $87 | $3828 |
| 88 | $88 | $3916 |
| 89 | $89 | $4005 |
| 90 | $90 | $4095 |
| 91 | $91 | $4186 |
| 92 | $92 | $4278 |
| 93 | $93 | $4371 |
| 94 | $94 | $4465 |
| 95 | $95 | $4560 |
| 96 | $96 | $4656 |
| 97 | $97 | $4753 |
| 98 | $98 | $4851 |
| 99 | $99 | $4950 |
| 100 | $100 | $5050 |
| Total Saved: | $5050 | |
Step-by-Step Guide For Completing the 100 Envelope Challenge
Are you interested in doing the 100 Envelope Challenge yourself? Here are the steps for completing the challenge:
How To Do The 100 Envelope Challenge
Tools
- 100 Envelopes
- Marker / Pen
- Decorate Box to Store Envelopes
- 100 Envelope Challenge Printable
Instructions
- Get 100 envelopes. These can be any envelopes, just make sure they're big enough for cash to fit inside.
- Label the front of each envelope from 1 - 100.
- Shuffle the envelopes.
- Put envelopes into a special container or location.
- Each week pick 2 envelopes randomly.
- Put the amount of money found on the front of the label inside of the envelope.
- Rinse and repeat each week for one year.
- Celebrate saving $5,050!
Grab this checklist to take control of your money and find a path towards financial independence.
Digital 100 Envelope Challenge
Are you someone that doesn’t use cash? Or maybe you’re looking for an easier way to complete the 100 Envelope Challenge?
You can do the challenge digitally!
- First what you need to do is download this printable tracker. The tracker includes a tracker to track your 100 envelopes, and it also has a blank tracker where you can create your own variation of the 100 envelope challenge.
- Next you need to decide where you’re going to keep your money. Will you open a separate savings account? Or just use an account you already have?
- Now each week choose 2 number randomly and transfer that amount to the account you chose for this challenge. Make sure you use the printable tracker to track your progress!
100 Envelope Challenge Tracker Printable
If you’re looking for a way to track your progress when doing the 100 envelope challenge, we’ve created these printable trackers to help you!
They’re available on Etsy for less than $2, and since they’re a digital download, you can print them as many times as you want!
Check the trackers out here!
Tips and Tricks For Completing the 100 Envelope Challenge
If you want to finish this challenge successfully, here are some tips and tricks to help keep you motivated:
- Prepare Before Starting – There are some people that just like to jump in headfirst into the challenge, but if you’ve never saved $5000+ before, it might be good to make a gameplan first. Think about where the extra money will come from. Will you pick up a side hustle? Cut down on your budget?
- Find a Community – You can find other people attempting he 100 envelope challenge by searching the hashtag #100envelopechallenge on Instagram or TikTok.
100 Envelope Challenge Variations
If you’re looking for different ways to make the 100 envelope challenge work for you, here are some different variations you can try:
100 Day Money Challenge
If you’re feeling a bit more ambitious, you can do the 100 envelope challenge over 100 days by picking an envelope each day for 100 days and filling it up.
200 Envelope Challenge
The 200 Envelope Challenge is similar to the 100 Envelope Challenge, but it’s just double the envelopes!
Take 200 envelopes and label 100 of them from 1 – 100, then take the remaining 100 envelopes and label those from 1 – 100. You should have two of each number.
Now every week or day pull out two envelopes and save the amount labeled!
After you complete the 200 envelope challenge you will have $10,100 saved.
50 Envelope Challenge
If saving 100 or 200 envelopes feels a bit daunting, you can do the 50 envelope challenge.
Just take 50 envelopes and label them from 1 – 50. Each week pull out one or two envelopes and save the amount labeled.
After you complete the 50 envelope challenge you will have $1275 saved.
Final Thoughts
If you’re interested in saving a huge chunk of money, give the 100 Envelope Challenge a try! You can either use physical envelopes or do it digitally by using bank transfers.
Frequently Asked Questions About The 100 Envelope Challenge
What is the 100 envelope challenge?
Carol Perez
Carol Perez has been dabbling in all sorts of side hustles and online money-making projects for over a decade now. From setting up her own e-commerce store to freelancing gigs, she's pretty much tried it all.
Grab this checklist to take control of your money and find a path towards financial independence.
