I am not great at saving money. I have been better during the pandemic, but only because I am not going out as much. That being said, I would like to be saving even more. I am not one for 'challenges' typically - but this 100 envelope challenge has my attention.

Enter your number to get our free mobile app

How does saving $5,050 dollars in just 100 days sound? Apparently you can in just 100 days. I should preface, I did not math on this at all. I am going off information from my mother, and the The Daily Mail. The instructions to participate are as follow,

  1. Get a box of 100 envelopes
  2. Number envelopes 1 to 100
  3. Mix up the envelopes
  4. Put the envelopes back in the box

From there you will pick two envelopes every week. For example, let's say you pick the envelope numbered 5 - put $5 dollars in that envelope. If you then draw the envelope numbered 25 - put $25 dollars in that envelope.

If you are in a relationship, each of you could do one envelope per week too. Even if you fill just one envelope per week, you are still saving money. I just hope I don't pull envelope numbered 100 first.

If you commit to doing this, let me know. I am planning on grabbing some envelopes tonight after work, and starting tonight. I don't usually stick to a lot of things (that are good for me), so I am really going to make myself stick with this. 100 days, equals money saved. I am going for it.

KEEP READING: See the richest person in every state