Sometimes saving money is easier when you turn it into a game. For those who agree, the 100-envelope challenge is worth a try. It’s a savings challenge you can start at any time with plain envelopes, which you can also organize into a 100-envelope challenge binder or a 100-envelope challenge book.

This “game” turns saving into a simple, clear action. Pick an envelope, stash the amount inside, and keep going until you’ve worked your way through all 100. Done the traditional way, the challenge helps you save $5,050. 

What Is the 100-Envelope Challenge? How Does It Work?

The 100-envelope challenge is a savings challenge where you label 100 envelopes with the numbers 1 through 100. Then, one by one, you put the matching amount of cash into each envelope. So, if you pull envelope #65, you’d put $65 inside. 

It’s simple by design. You can go through your envelopes in order, or you can shuffle the deck and choose one at random each time. You also don’t have to “play” every day; you can space out your envelopes as far as you comfortably need. Many people like pulling random envelopes from the draw pile because it adds a little surprise and keeps the challenge from feeling too repetitive.

How Much Money Can You Save?

If you fill every envelope, you end up saving $5,050 total; the numbers 1 through 100 add up to $5,050. If you can afford to tuck some money away every consecutive day, you’ll save that amount in 100 days.

That said, not everyone is able to save that much that quickly. If $5,050 in a little over three months is too aggressive, you can scale back. A lot of people do half amounts, stretch it across a longer timeline, or play only on payday instead of every single day. 

The Downsides to Know Before You Start

The main downside is obvious: Some envelopes are expensive. Pulling a high number when money is tight can be stressful, especially if you’re trying to do the challenge daily. The standard design of the 100-envelope challenge is not realistic for everyone, and you should modify the pace or amount when needed.

There’s also the fact that this challenge usually relies on physical cash. If you don’t like carrying cash or storing it at home, you may prefer a digital version with a printable 100-envelope challenge PDF. Simply mark off your tracker with the dollar amount, and then transfer the money into your savings electronically.

Best Ways to Make It Easier

There are a few ways you can make the 100-envelope challenge easier:

• Sort the envelopes into tiers: Pull from a stack of lower numbers (say under 30) on days when money is tighter; pull from the higher numbers when you have a little extra to spare. This takes pressure off to come up with cash on the spot.
• Start with high numbers first: This is a good strategy if you want to get the hardest part of the savings challenge out of the way first.
• Use a printable tracker: Seeing your progress tick down is extremely motivating and can encourage you to keep pushing.
• Use a book or binder: Instead of keeping the envelopes in a loose stack, organize them in binder sleeves so you can better stay focused.

FAQs

Can I Save $10,000 With the 100-Envelope Challenge?

Sure, you can save $10,000 with the 100-envelope challenge by doubling the amount you put into each envelope. In other words, if you pull envelope #40, you’d put $80 inside. This is much more of a financial investment, and accomplishing this in 100 days might be a stretch, but it could be a fun challenge over six months to a year or more. At the end of the challenge, you’d have $10,100 stashed.

Why Do People Like This Challenge?

People like results they can feel, and this challenge is tangible. Whether you’re stuffing actual cash into an envelope or filling in a bubble on a tracker, you can see your progress in real time, and that’s a very motivating feeling. 

It also helps that the challenge is fun. And much like exercising, saving money can be a bit more enjoyable when you turn it into a game.

Should You Use a Tracker, Binder, or Book?

The simplest answer is a 100-envelope challenge tracker you can print out at home. It gives you a quick visual of what’s complete and how much you’ve saved so far. A binder or book may be better if you like having everything in one place, and it’s a tidy way to organize your 100 envelopes. You could always use both.

Is the 100-Envelope Challenge Worth It?

It can be, especially if you struggle to stay motivated with ordinary savings goals. The challenge works well for short-term goals like building a starter emergency fund, saving for holiday spending, covering travel, or creating a buffer in your checking account.

But it’s not magic, and it’s not the right fit for everybody. If the classic version is too expensive for you, make it slower or more flexible. A savings challenge shouldn’t make your month harder than it already is.

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