Watch your savings grow by completing this exciting and motivating 100-envelope challenge.
Whether you’re hoping to build an emergency fund, or simply looking to save money for a holiday getaway, this fun way of saving might be just for you!
What is the 100 envelope challenge
This challenge has become a popular way of saving money by filling 100 plastic pouches inside a ring binder folder.
You can make these yourself, or buy the folders online here that come with a folder and the various challenge cards to suit your saving budgets.
Each envelope filled represents a small milestone towards reaching a financial goal at the end of the challenge.
This is a fun, motivating way of saving by adding small contributions over some time. The challenge helps to discipline and achieve healthy saving habits.
Savers can start with modest weekly contributions or set a more frequent daily target that offers a structured yet engaging path to financial security.
How much do you save with the 100 envelope challenge
The 100 envelope challenge binder holds 100 internal pouches big enough to stuff the required amount into. There are three options for you to choose from.
Option 1.
Follow the challenge card that has each envelope numbered from £1 up to £100.
When you complete this you would have saved a total of £5050.
Option 2.
Some folders come with multiple challenge cards inside where you can choose to save £5, £10, £20, £30, £40 or £50 at a time.
Depending on how much you’re willing to fill each envelope with, let’s take a look at the total amount you can save by following the challenge cards:
| Challenge card | Total amount saved |
|---|---|
| £1 up to £100 | £5,050 |
| £5 | £500 |
| £10 | £1,000 |
| £20 | £2,000 |
| £30 | £3,000 |
| £40 | £4,000 |
| £50 | £5,000 |
| £100 | £10,000 |
Option 3. The DIY approach.
You might come across some blank challenge cards inside your envelope binder with 100 empty fields where you can mark down your own savings goal.
This is particularly helpful if you have a total amount that you already know you want to save. Just divide that total amount by 100 and then write the value in each field ready to be crossed out every time you fill a pouch.
This could be a future all-inclusive holiday somewhere exotic, a down payment for a new house, or perhaps just a savings fund for when the new baby arrives.
How to make the 100 envelope challenge at home
To create the 100 Envelope Challenge at home, you’ll need:
- 100 Envelopes
- Marker Pen
- Paper or Card
- Savings Container
- Contribution Plan
- Dicipline
Step 1.
Gather 100 envelopes that will be big enough to hold money inside. These can be plain or colourful, seethrough or just plain brown ones.
Step 2.
Using the marker pen, write on each envelope the numbers from 1 to 100. This will help you to track your progress throughout the challenge.
Step 3.
Using a piece of paper or card, record the amount of money you deposit into each envelope and mark off the numbers as you do so. This will be your motivational journal.
Step 4.
Find a safe container large enough to store all 100 filled envelopes inside. This will help to keep your challenge well organised.
Step 5.
A contribution plan. Decide how much money you’ll contribute to each envelope. You can choose a fixed amount for each envelope or vary the contributions based on what you’re planning to save for.
Step 6.
The most important part of this challenge is consistency and discipline. Commit to making regular contributions to your envelopes according to your contribution plan, and stay focused on your savings goal.
Conquer savings milestones in 100 steps!
This is an easy way to save money for both kids and adults, which will keep them motivated throughout the entire challenge while also learning the importance of dicipline.
Every step towards completion brings excitement and the need to continue to that rewarding end goal.