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How To Do The 100 Envelope Challenge and Save $5,000 In Less Than A Year

How does an extra $5,000 sound right about now? If you say that could change your life, you are not alone. The reality is, that money could truly be yours in as little as 100 days from now. Actually, $5,050 to be exact.

100 envelope challenge

By now, it’s likely you’ve heard about the 100 Envelope Challenge which is the newest trend in the money management and finance world and is precisely how you’d get your $5,000.

This money hack has gone viral lately (and with good reason) because it leaves you with an extra $5,050 in your life.

This trend is perfect for saving on a down payment for a house, paying off debt, saving for a vacation, etc. The possibilities are endless!

100 envelope challenge

What is the 100 Envelope Challenge?

The 100 envelope challenge is a money saving challenge. You start with 100 envelopes and write one number from 1-100 on each envelope. You then shuffle the envelopes and place them into a bucket or basket.

Each day you draw an envelope and whatever number you draw, you place that amount of cash inside and you do this for 100 days until the envelopes are filled.

For example, if on day one you draw the number 67 you would deposit $67 into that envelope and seal it. If on day two you draw the number 3, you’d deposit $3 into that envelope and seal it and continue this for 100 days.

By the end of the challenge, you will have saved, $5,050!!

100 envelope challenge

What is the 100 Day Money Challenge?

The 100 day money challenge is just another name for the 100 day envelope challenge but it’s the same money challenge.

How can I save $5,000 in 6 months with envelopes?

This is also the same challenge. There are 182.5 days in 6 months so you can adjust the 100 day envelope challenge to take a little longer to complete. Or you can do the 100 day envelope challenge as-is and complete it in about 3.5 months.

100 envelope challenge

How Can I Save $5,000 in 3 months?

You can save $5,000 in 3 months by completing the 100 day money saving envelope challenge because that is about how long it takes to complete this challenge.

Now that you know what the 100 day envelope challenge is, I want to express that I find this a fantastic idea. However, I understand why this may not be a feasible option for many.

The idea of saving $5,000 in under 4 months sounds amazing and who wouldn’t want that?

But the reality is, not everyone has that extra money at their disposal (especially right now).

With that being said, I am currently working on another idea that will help make this challenge more obtainable but in the meantime, if you want to give it a try, here are some things you will need to get started.

100 envelope challenge

What You Need To Do The 100 Envelope Challenge

  • Envelopes – I really love the colorful ones because it just makes everything more fun
  • Black Sharpie – This is to write the numbers on the front
  • Cash (you can withdraw a certain amount each paycheck or run to the bank each day as needed)
  • Stickers – This is optional but is a fun way to seal your envelopes
  • Box or Container to Store Them In – I like to use a decorative photo box

In addition to the above supplies, I decided that it only made sense to have some sort of visual that will help you keep track of how many days you’ve completed.

So, I created a 100 Day Envelope Challenge Printable that you can color daily as you fill each envelope with cash! You can get that here.

100 day envelope challenge chart

Want another money saving challenge idea? Check out my 52-Week Money Saving Challenge with a free printable chart!

JC in S.D.

Tuesday 31st of January 2023

32 envelope challenge: just put 1 penny into the first, 2 into the 2nd, 4 into the 3rd, 8 into the 4th, and so on. In just over a month, congrats - you have $43 million!


Tuesday 31st of January 2023

Or you can just not spend $35 a day on coffee and eating out and BOOM you saved $12,775 in a year.


Tuesday 31st of January 2023

If you have to run to the bank to get the money, you already have

Suzanne Spicer

Wednesday 15th of February 2023

@Tony,that’s the same thing my daughter and I said.


Wednesday 25th of January 2023

You should mention the 365 day penny challenge. Where on day 1 you put 1 penny in the jar, on day 2 you put 2 pennies in the jar, on day 100 you put $1 in the jar, on day 365 you put $3.65 in the jar and by the end of the year you will have $667.95 which isn't even close to 5000 dollars and takes much longer but it doesn't even seem like a lot of money throughout the year, and the $667.95 could come in handy


Saturday 18th of February 2023

@Katie, oh my gosh thank you! Not only did you give me the best idea ever, you did the math for me! I can't afford NOT to do this one!♥️

Christina Fecci

Saturday 14th of January 2023

This is a great idea that I just started, however, I’m doing it every paycheck so it will be much longer than 3 months. More like 2 years. But the end result will be worth the wait!