How To Do The 100 Envelope Challenge and Save $5,000 In Less Than 100 Days
100 days is short amount of time for most people to get there hands upon $5000. Most Americans don't even have $1000 laying around for a rainy day. Imagine having 5x saved in less than 4 months. It may sound daunting for those who have never saved before, but I promise, it is a fun process and makes savings a regular habit!
You can see the video I made soon after finishing the 100-day challenge. Essentially what it entails is as follows.
- Buy 100 envelopes
- Write 1–100 on each
- For each day, you pick an envelope and put that money inside.
- At the end of 100 days, you will have roughly 5,050 dollars.
By the end of the challenge, you will have saved up 5000 dollars. It is a great way to jumpstart your savings with a fun and easy challenge.