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Top 3 Envelope Challenge to Save Money Upto 10K

Are you one of those people who want to save money but don’t know how to do it? Or Are you the one who ends up exceeding the monthly budget? If yes, then you clicked on the right article, here we have the top 3 envelope challenge for you which can help you save a lot of money.

Future is unpredictable, you don’t know what will happen next so for all the emergency situations and all your dream vacations, you must have at least $5000 in your emergency funds but do you know that more than 43% of Americans don’t even have $1000 as savings, and we hope you don’t want to be one of those 43% people. 

You might think that you’ll take a loan from the bank, but don’t forget about the long procedure of banks. You might also think that you’ll borrow money from some app, but there you can borrow very less money, some $100 or a little more, and you’ll have to pay it back, sometimes even with interest.

Hence, it would be a very smart move to save a little amount of money from your own income so that you don’t have to go to anybody else for money in emergency situations. We got the best money-saving challenges for you.

Our top 3 envelope challenges to save money are

  • 100 envelope challenge
  • 52 weeks envelope challenge
  • 26 weeks envelope challenge

You can choose any of these challenges as per your choice, it totally depends on your earnings and how much money you want to save, you can even modify these challenges to make them more suitable for you. Just make sure that you are determined enough to stick to the challenge. 

1. 100 Envelope Challenge

100 Envelope Challenge

Our first challenge is the 10k in 100 days challenge, and what if we tell you that you can save at least $5,050 by sticking to our original challenge and even more if you want to modify the challenge. Now you must be wondering, what is the 100 envelope challenge? Don’t worry, everything is explained below in detail.

Things You Will Need:

For this challenge, you’ll need 100 envelopes, on which you need to write 1 to 100 on each envelope, or you can buy printed envelopes on which the numbers are already written. 

How Does it Work?

Now that you have envelopes you can start saving money, on day 1 of the challenge, just take out envelope number 1 and put $1 in it. On day 2, take out envelope number 2 and put $2 in it, on day 50 of the envelope challenge, take out envelope number 50 and put $50 in it, easy to do right? 

Just repeat this process for 100 days, it might get a little difficult by the end of the challenge but stay motivated by focusing on the end result, don’t leave it in the middle.

How will you have $5,050 with the 100 envelope challenge?

It is not rocket science, just simple maths.

1st Day = $1

11th Day = $55

21st Day = $210

31st Day= $465

41st Day = $780 

85th Dat= $3,615

100th Day = $5,050

And that’s how you’ll save $5,050 in just 100 days.

How to Save $10,000 in 100 Days?

How to save 10K in 100 days? Tough Question!! Well, to double your savings, you’ll have to double the amount of money you’re putting in the envelope. If you put $2 in the envelope on day 1 instead of $1 and repeat this for 100 days then you’ll have in total $10,100 by the end of the 100 envelope challenge as your saving, that sounds great, right? Simply just multiply the envelope number by 2 and put that amount in the envelope.

How Can You Make this Fun?

To make this 100-envelope challenge fun, you can shuffle the envelopes. That way it will be exciting, there won’t be a proper sequence and you’ll get a surprise every day. You can also fill 2-3 envelopes in a day if you want to finish this challenge faster. 

Whether this 100 Envelope Challenge is Good for You?

It completely depends on your monthly income and your spending. To complete this challenge, you must have a regular income so that it doesn’t affect your living standard. If you don’t have a stable income, don’t worry, we got 2 more envelope challenges for you, and you can choose the best for you.

2. 52 weeks Envelope Challenge

52 weeks Envelope Challenge

Our second challenge is a 52 weeks challenge, by following this challenge strictly you’ll save at least $1,378, but if you increase the amount of the money then you can even save up to $5,000 by the end of the year, now let’s get into the details of our 52 weeks envelope challenge.

Things You’ll Need:

To start this challenge, you’ll need 52 envelopes, you can buy 52 envelopes and then write numbers 1-52 on them or you can either buy the printed envelopes on which the numbers are already written and you’re good to go.

How Does it Work?

For this challenge, you need to put money in the envelope once a week. Just take envelope number 1 and put $1 in the envelope in week 1; in week 2, take out envelope number 2 and put $2 in it and repeat this process for 52 weeks and you’ll have $1,378 by the end of 52 weeks. To make sure that you don’t forget to complete the challenge, you can put in a weekly alarm or weekly reminder.

How Can You Save up to $5,000 by 52 weeks Envelope Challenge?

If you want to increase your savings through this challenge then you can multiply the number of your envelope by 2,5 or even 10, whatever suits you as per your income, and put that amount in the envelope weekly and you will be able to save $5000 or even more by the end of 52 weeks. 

Whether this Challenge is Perfect for You?

If you’re someone with less or unstable income then our 52 weeks envelope challenge would be a good option for you because in this challenge you’ll only have to put money into the envelope once a week and you’ll save a good amount of money by the end of the year and you can make money fast for by this challenge.

3. 26 Weeks Envelope Challenge / 6 Months Envelope Challenge

26 Weeks Envelope Challenge

In our third envelope challenge i.e. 26 weeks challenge you need to save an amount of $150-$225 weekly and by the end of 6 months, you’ll have somewhat between $3,250-$5,580 in your savings account or emergency fund. Now let’s get into the details of this challenge.

Things You’ll Need:

For this challenge you’ll need 26 envelopes, you can get envelopes and then write the numbers on them or you can simply buy the printed envelopes on which the numbers are already written and you’re good to go with our 6-months challenge. 

How Does it Work?

For this challenge, you must put an amount of $150-$225 in week 1 and then repeat the same process for 26 weeks, you can choose any amount between the given bracket as per your choice and need of that particular week and by the end of 6 months, you’ll have savings of $3,250-$5,580.

How to Save $20,000 in 6 months Chart?

To save $20,000 by this challenge, you’ll have to save at least $770 weekly or you can make it a biweekly money-saving challenge or everyday challenge, whatever suits you best but make sure that you save at least $770 every week to achieve your goal of $20,000 in 6 months.

Whether this Challenge is Perfect for You?

If you have a stable and good income then only you should go for this challenge because for this challenge you’ll have to save at least $150 to reach your final goal, other than that you can modify this challenge according to your income.

Frequently Asked Questions (FAQs)

Q1 What if I forget to put money in the envelope?

Well, it can happen that you might forget to put money in the envelope, after all, we are humans only, but the best you can do to avoid this is to put a reminder or alarm on your phone so that you get notified every day to get rich by saving money. You can also make this a habit by doing this first thing in the morning. Or you can also go for the automatic transaction option if you transfer the money to your savings account.

Q2 Is there any other way of doing these challenges?

Of course, if you’re someone who prefers online transactions and you don’t believe in physical cash then you can open a savings account in the bank and then you can transfer money into that account according to the challenge that you’re doing. You can also put an alarm or reminder or you can go for an automatic transaction option.

Q3 How to save $5,000 in 3 months chart?

To save $5,000 in 3 months or 13 weeks, you must save at least $385 every week, other than this, you can make it a biweekly money-saving challenge or everyday challenge, whatever is best for you but the weekly saving must be $385.

Final Say

For emergency situations, you must trust in your own money rather than thinking about loans or borrowing money apps because there you’ll have to repay the amount with interest and those processes are time-consuming. Our envelope challenges are best for you and you can choose or modify any of them as per your needs and income.

Author Profile

David Garcia
David Garcia
David Garcia is a nationally-recognized consumer and money-saving expert who helps people make smart decisions with their money. He has been featured on NBC’s Today Show, Good Morning America, ABC News, and CNBC as well as in The New York Times & other media outlets. With more than 13 years of experience in the personal finance space, David is an experienced writer and researcher. He has written for major publications where he provides readers with actionable advice to save money on groceries, insurance, and more. With his work for various publications, David is an active contributor to the Credit Card Insider blog where he shares insights into credit cards such as rewards programs and interest rates.

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