What is the 100 Envelope Savings Challenge?

Do you want to save $5000 dollars! The viral100 Envelope Savings Challenge is a super easy and fun way to save $5050 dollars.

What is the 100 Envelope Savings Challenge?

The 100 Envelope Savings Challenge is a super easy and fun way to save $5050 dollars. Using envelopes number 1 to 100, you can set aside cash on a daily, weekly, bi-weekly, or monthly basis and at the end of this challenge you could set aside more than $5,000! 

Get Started with the 100 Envelope Challenge?

Step #1: Gather Your Supplies: Grab a pen or marker and number your envelopes from 1 to 100 or you may prefer to use a Budget Binder with sleeves labeled 1-100.

Step #2: Set a Savings Goals: On a weekly, bi-weekly, or monthly basis choose one envelope. Then, save the amount of money that matches the number on the envelope. For example: The envelope labeled "35" you save $35 and add the cash to your envelope.

#3: Be flexible: Life happens. If you miss a day or two, don't sweat it. Just pick up where you left off.

Step #4: Track your Progress: Track your progress in a notebook or use one of our Saving Trackers to keep track of your progress.

Step #5: Decide what you want to do with the money: After you've completed the 100 Envelope Savings Challenge decide what you want to do with the money you saved.

• Option 1: Deposit your savings into a High-Yield Savings Account to earn additional interest.
• Option 4: Creating a separate savings account specifically for saving to prevent accidental spending.
• Option 3: Start a Sinking Funds Account or Budget Binder 

Bonus Tip: Use spare cash for fuel your 100 Envelope Savings Challenge. Use spare cash from your grocery shopping trip, market or traveling.

Benefits Beyond the Dollars with 100 Envelope Savings Challenge

The 100 Envelope Challenge isn't just about cash stuffing. It's about building healthy saving habits, increasing your financial awareness, and learning to budget like a boss. 

So, are you ready to try the 100 Envelope Challenge? Grab your envelopes or Budget Binder , and witness the magic of small, consistent steps. Remember, Every Dollar Counts, and before you know it, you'll be swimming in a sea of savings!

Why try the 100 Envelope Savings Challenge?

The 100 Envelope trend is perfect for saving for down payment for a car, paying off your credit card debt, paying off a loan, saving for a big purchase, creating an emergency fund, or to simply start saving.

At Budgeting Basics we understand the unique challenges of budgeting in Trinidad and Tobago. We have designs various 100 Envelope Savings Challenges with your needs and budget in mind.

If the 100 Envelope Savings Challenge seems to daunting start with some or our smaller challenges:

$5 Savings Challenge

The $5 Dollar Savings Challenge involves saving a $5 dollar bill on a daily, weekly, bi-weekly, or monthly basis. This savings challenge is tailored for beginners, save up to $220 with our $5 Savings Tracker.

$10 Savings Challenge

The $10 Dollar Savings Challenge involves saving a $10 dollar bill on a daily, weekly, bi-weekly, or monthly basis. This savings challenge is tailored for beginners, save up to $440 with our $10 Savings Tracker.

$20 Savings Challenge

The $20 Dollar Savings Challenge involves saving a $20 dollar bill on a daily, weekly, bi-weekly, or monthly basis. This savings challenge is tailored for beginners, save up to $880 with our $20 Dollar Savings Tracker.