Money-Saving Challenge That is Stupid Easy

We live in a time when we all want to save more money but aren’t bringing any more in! More of our hard-earned money goes out the door to bills, groceries, and everything else we need to live. Money-saving challenges are not at the top of our list!

Now more than ever, I say that money-saving challenges DO need to be on our list! There are a lot of things I want to save up for every year that takes a big lump sum. This money-saving challenge can certainly help! You can also use this to save for a mini vacation or that emergency fund that you desperately need!

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First off, what the heck is a money-saving challenge??

The great thing about a money-saving challenge is you can make it your own so easily. A money-saving challenge is where you save a set amount of money for a set amount of time. The challenge there is saying no to the coffees, the nights out, out to eat, etc! I don’t know about you, but coffee is where it gets me the worst!

Photo by Diana Light on Unsplash

100 – envelope challenge

Hey there, future savings superstar! As you stand on the brink of this money-saving adventure, remember: this is all about building a fab habit while you flex those financial muscles. Grab your 100 envelopes and label them from one to a hundred—because who doesn’t love a little DIY magic? You’re about to kick off a savings saga that’s set to end with a delightful payoff of over $5,000. And guess what? This isn’t some brain-bending puzzle; it’s all about simply matching your savings to each charming little number. Easy peasy, right? Now go forth and save like the boss you are! 💸

Now, let’s break it down. The 100-envelope challenge is a super fun way to save systematically, mixing discipline with a dash of excitement. Over 100 days, your savings will grow little by little, and honestly, it’s so simple that I have to call it “ridiculously easy.” So, grab those envelopes and let’s turn that dream into your fabulous financial reality! 💪

There’s just one golden rule in this savings game: stash away the amount that matches the number on each envelope. Whether you’re playing envelope roulette or sticking to a plan, every little deposit is a step toward beefing up that financial stash. Plus, watching your savings grow in real time? That’s like a front-row seat to your own financial glow-up! So, get ready to feel that sweet, sweet progress! 💰

How this money-saving challenge works

You’ll need a few supplies: envelopes (100 to be exact 😀 ), a marker or pen, stickers, and envelope moistener (or ya know, just your tongue would do it!)

Embarking upon this savings challenge starts with one simple task: take exactly 100 envelopes and number them sequentially from 1 to 100. This is your foundation. Over the following 100 days, dive into this fun and random way of saving by selecting one envelope per day. The number on the envelope you draw determines the amount of money you will deposit into it. For example, if fate leads you to choose envelope #10, your task is to place a crisp $10 bill within its confines.

This exercise in financial discipline will absolutely test your resolve because it requires a steadfast commitment over the course of 100 days. Every single day, you will have the opportunity to set aside a potentially different amount, making this process a dynamic and engaging journey towards saving. It means every spare dollar you come across is no longer spent frivolously.

You'll need to momentarily say goodbye to those small daily indulgences (buh-bye daily coffee visits 😭) or the convenience of grabbing lunch out. Instead, you're going to embrace the habit of brewing your own coffee within the comfort of your home and putting together homemade lunches to take with you to work.

Let me tell you: the magic of this challenge isn’t just about saving; it’s all about the discipline and the sweet rewards that come with it! Each day you fill an envelope, that anticipation builds like a perfectly whipped meringue. And when you cross that finish line after 100 days? Boom! You’ll have a fabulous $5,050 stashed away, all thanks to your dedication and those little sacrifices.

Just imagine it—this glorious sum is now yours to play with! Whether you’re eyeing that must-have item, planning for something urgent, or dreaming up your next investment, this simple yet powerful savings method can be a total game changer. So, let’s get saving and watch your dreams come to life! 🎉💸✨

How do I even start this savings challenge?

You will need to start with a budget! After all, you won’t be able to squeeze out any extra funds from your paychecks if you don’t even know how much extra you should have floating around. Think of your budget as your financial road map—it tells you where you are and where you want to go!

Check out this super easy post about how to budget your paycheck. It’s packed with tips and tricks that’ll make budgeting feel less like a chore and more like a fun game of financial chess!

Next, you’ll want to look into some solid savings accounts. Here’s a list of high-yield savings accounts that are out there just waiting to help your money grow even bigger! You want to make sure your hard-earned cash isn’t just sitting there; it should be working hard for you, like the little financial superstar it is!

And hey, let me know how this works for you! If jumping in with 100 envelopes feels like too much right now, no worries—start with 50! It’s all about finding your rhythm and building up to those bigger goals at your own pace.

Remember, challenges are meant to be more of a jump start to creating lifelong habits. Just like you would tackle a push-up or sit-up challenge, starting small is key to building momentum. So, flex those financial muscles and watch yourself grow stronger and more confident in your savings journey

I have faith in you, we can do this!