This free 100 envelope challenge printable chart is great for you if…
- You are struggling to save. In which case, you are not alone.
2. Or you need an exciting boost of motivation. And you are ready to put your dreams into action!
“The secret of making progress is to get started.”– Mark Twain
What is the 100 Envelope challenge?
The 100 day envelope challenge has gone viral through mediums like TikTok because it’s a fun and easy way to keep more money in your pocket!
What you will need:
To begin the 100 envelope challenge, you will need:
- 100 Envelopes – make them colorful!
- Free printable 100 envelope challenge chart below. The printable makes a nice visual to mark your progress as you go. And if you don’t want to use all of the envelopes, you can still do the challenge with just the tracker!
- Black sharpie or pen
- Box or container
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How to do the 100 Envelope Challenge: Rules
This challenge is straightforward. Here’s how to get started:
1. Take your 100 envelopes and label them 1-100. These are the dollar amounts you will put into each envelope. (21 = $21)
2. Put your envelopes in your box for safe keeping.
3. Each day, pull out an envelope at random. That is the amount you need to save for that day. (If you draw a 17, put $17 in that envelope.)
VARIATIONS: You could also go in order or deliberately choose the envelope. For example, if you call Netflix and stop your service for 3 months, that saves you $33. Find your envelope labeled “33” and use it (instead of picking at random).
4. Color in the envelope you filled on the free pdf chart for the 100 envelope savings challenge.
How Can I Save $5,000 in 3 months?
After the 100 days envelope challenge, you will have an extra $5,050 in your pocket. That is a lot of money!
With that you could…
- pay off a nagging credit card debt
- take your family to Disney, the mountains, etc.
- build your emergency fund fast
- Invest it to put it to work for you
There are lots of options!
What are the benefits of the challenge & Chart?
The obvious benefit is the extra money you will have. But there are other hidden saving benefits too!
It Makes Saving Exciting
What’s more fun? A challenge that stretches you or another “I should” statement you know you won’t follow through on. Plus, if you pick the envelopes at random, you never know ahead of time how hard or easy your day will be.
You are building the savings habit
In my opinion, the BEST benefit of any challenge is that it helps you build a long-lasting habit.
At the end of 100 days, you will be accustomed to looking for ways to save. This is how fortunes are made!
It’s Great For Trimming Up Your Budget
Perhaps you haven’t kept track of your spending as much as you’d like. This challenge is a great opportunity to start at ground zero again. It will help you question all of your expenses, to see where it is worth it for you to spend and save.
Common Issues With the 100 Envelope Challenge
Next, this challenge is amazing! But there are a few things that trip up participants. Here’s how to get around them.
It requires cash
Most of us keep track of our money digitally these days.
Solution: Determine how much you will need and take the cash out BEFORE the challenge starts. You can also go to an all cash budget during the 100 days.
Solution: Ditch the cash/envelopes entirely and do it digitally. At the end of each week, count up your total and move the funds from your checking account into a specific debt payment or savings account (i.e. beach vacation). (Just be sure to keep marking on your free 100 envelope challenge chart!)
It requires commitment
3 months is not a short amount of time, and some days will be difficult.
Solution: Do the challenge with a friend, post it on social media, or make a bet with a family member. Make yourself accountable in some way!
It Requires A Surplus
This 100 day savings challenge should stretch you, but also be realistic. It may be too difficult if you are already incredibly strapped for cash.
Solution: If that is the case, try the 52 week savings challenge instead. This challenge has a longer time frame and you can change the overall number.
Solution: Extend the amount of time you have to do the 100 envelope challenge. Instead of 100 days, do the challenge in 200 days. It’s the end result that matters, so adjust as you need to!
Free Printable 100 Envelope Challenge Chart
Print it out the free pdf here!
Tips For Succeeding With This Savings Challenge
$5,000 in 3 months is a lot of money! Here is how to make sure it works for you!
Determine Your Budget
The budget that’s right for you is different for everyone. But regardless of which one you use, it is important to know where your money is going.
Try one of these free printables to help you get started.
Plan For Obstacles
There will likely come a day when you don’t feel like doing the challenge. Plan for this beforehand.
Your numbers won’t always match up. Let’s say you saved $9 by not getting your Starbucks, but your envelope was 7. Mark down or put the extra two dollars in another envelope for when you are short another day!
Make It Easy, Obvious, & Fun
Try one of these to keep this challenge going even when it’s tough:
- Put the tracker and box of envelopes in an obvious spot that you walk by often.
- Before the challenge, write a list of all the possible ways you can save. Brainstorm how you will get the higher numbers.
- Do the challenge with a friend. Send each other “high fives” when you accomplish a big number!
This article on the most creative ways to save money will help you think outside the box when you have exhausted all of the well-known savings hacks.
Stay Motivated With The 100 Envelope Challenge Tracker
Aside from using your free chart, inspire yourself throughout the challenge in other ways too:
- Write down why you are doing the challenge and review it each morning. (Grab more great millionaire morning ideas)
- Repeat success affirmations to build your wealth mindset
- Put up good debt free quotes around your house if you are trying to pay off a debt.
- Make an inspiring money vision board. What will you do with your building wealth?
Get Good At Finding Free Things to Try
This article on good things to do when you are broke is great for anyone, at any stage of life. Use it in the months ahead to remind yourself of all the cheap and free ways to have a good time.
More Fun variations You Can Try
Next, the 100 day envelope challenge chart can be modified in a number of ways. Use the variation that fits for you.
How can I save $5,000 in 6 months with envelopes?
Make it a longer challenge than 100 days. It’s better to complete it in twice the time than not at all! And this way, you can give yourself 2 days to complete each envelope.
How Does this look if you stretch it out to 52 weeks?
If you’d like to do this challenge over the course of a year, you can pick 2 envelopes a week to complete.
How do you do the 100 envelope challenge Chart biweekly?
The 100 Envelope Challenge Bi Weekly is the same challenge but split into weeks to make your deposits easier. If you decide to do the envelopes in order, here is how it looks:
*With this, you can decide to fill your envelopes or move your money biweekly, instead of daily. This makes it simple.
100 Envelope Challenge Chart $10,000
And finally, the 10K In 100 Days Challenge is a more intense version of the basic challenge. All you have to do to complete this $10,000 challenge is double each one of the amounts on the tracker.
To save double, I recommend:
- Negotiating and evaluating all of your bills
- Going diy on everything you can (hair, nails, etc)
- Doing a no eating out challenge
- Getting creative with your house or car situation
- Doing a no spend challenge
- Making extra money
- Diving into stealth wealth tips
To Consider With Your 100 Envelope Chart Challenge
Above all, remember that slow progress is still progress. Whether you save $5000, $1,000, or $10,000, it’s one step closer to where you want to be. So, now all you have to do is start!
See the best categories for cash envelopes to try it with your budget >>