100 ENVELOPE SAVINGS CHALLENGE: HOW TO! (FREE PRINTABLE!)

Are you looking for a way to save money this year? If so, you should consider participating in the 100 envelope savings challenge!

The 100 envelope challenge is a great way to kick start your savings and make it a fun experience while you’re at it.

WHAT IS THE 100 ENVELOPE CHALLENGE?

All you need are 100 envelopes to start with, and you can either buy these or print them with this free printable template.

The goal is to mix them up so that you can randomly pull an envelope every day, week, or two weeks and have a different numbered envelope, avoiding pulling high numbers only or low numbers only.

WHY THE 100 ENVELOPE CHALLENGE WORKS

The 100-envelope money saving challenge works so well because it is an interactive way to actively save your money for a goal or plan you have coming up.

HOW MUCH MONEY DO YOU GET FROM THE 100 ENVELOPE CHALLENGE?

If you add up all of the envelopes at the end of this challenge, you will have a whopping 5,050 dollars!

FREE 100 ENVELOPE CHALLENGE PRINTABLE

This template also includes a brief overview of popular variations to daily participation, including weekly, biweekly, and monthly options.

HOW THE 100 ENVELOPE CHALLENGE WORKS

You will plan a schedule for yourself that you can stick to comfortably.

1.   PRINT OUT 100 ENVELOPES OR BUY A BOX OF 100 ENVELOPES

The first and one of the key aspects of this free printable 100 envelope challenge is, of course, the envelopes themselves.

2.   WRITE THE NUMBERS 1 – 100 ON 100 INDIVIDUAL ENVELOPES

The next part is the simplest step, in my opinion. All you are doing is labeling each envelope with the numbers one through one hundred.

3.   PUT THE EMPTY ENVELOPES IN A DRAWER OR A BOX

This way you can avoid pulling already filled envelopes or digging through cash stuffed envelopes to get to the empty ones.

Once you draw your number, you simply transfer that listed amount from your checking account to your savings account and don’t touch the savings account until the end of the challenge!