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Is The 100 Envelope Challenge Doable?

Chances are, you’ve heard of the TikTok famous 100 Envelope Challenge and you may be wondering, Is The 100 Envelope Challenge Doable?

After all, during a time with a looming recession, nearly everyone is looking for ways to build their savings quickly in case harder financial times are around the corner. So, naturally, you may be looking for that too.

Colored envelope filled with cash for 100 envelope challenge

Well, as someone who has personally completed the 100 envelope challenge a few times now, the short answer is, yes, the 100 envelope challenge is doable.

However, it does come with some major budgeting and self-discipline.

Colored envelopes for the 100 envelope challenge

What is The 100 Envelope Challenge?

The 100 envelope challenge is a money-saving hack where you stash numbered envelopes (numbered from 1-100) with cash.

The amount you save directly correlates with the number on the outside of the envelope. For example, if you pull the envelope numbered 25, you would save $25 in that specific envelope. Once the challenge is completed, you will have saved $5,050 total.

100 envelope challenge envelopes numbered

Is The 100 Envelope Challenge Hard to Complete?

Yes and no. If you are a person that can have self-discipline when it comes to money, get on a budget and look for ways to help stash some extra money away, it isn’t hard to complete.

However, if you are more of a “spender” than a “saver”, lack self-discipline when it comes to spending money or have a tight budget with virtually zero wiggle room, it will be a hard challenge to complete.

So, that answer truly depends on the type of person you are when it comes to money.

Looking for an easier money-saving challenge to start with? Check out my top money-saving challenges here.

Is the envelope challenge worth it?

Absolutely! Whether you have debt to pay off or lacking a savings account (especially one set aside for a rainy day), the envelope challenge is worth doing. Anytime you can save money, it’s entirely worth trying to do.

Can you do the 100 envelope challenge digitally?

Ever since I first shared how to complete the 100 envelope challenge, I’ve been asked if there is a way to do it digitally and the answer is – yes.

You can certainly complete the 100 envelope challenge digitally, it will just be a bit different.

The 100 envelope challenge is originally designed to use physical envelopes and cash. So, by doing the money challenge digitally, you are removing the physical aspect of the challenge.

You can keep track of your progress by using my 100 Envelope Challenge Printable and instead of stuffing envelopes with cash, you’d transfer your envelope money for that day into a savings account.

100 envelope challenge printable

Tip: To maximize your savings, consider putting your money into a high-yield savings account or CD account to have the money grow.

How can you afford to do the 100 envelope challenge if you are living paycheck to paycheck?

I’ve been asked this question many times and my answer is always the same – you have to find additional cash.

When I began my savings challenge journey, I found that the needle (the needle being money) moved a lot faster when I actually had the money to set aside.

I started side hustles, removed useless expenses from my budget, shopped at Dollar Tree, sold items around my house (I had several yard sales), used coupons for nearly everything and I even learned how to increase my income.

The basics: I decreased expenses and increased income.

Yes, I know, it sounds easier than it is but in reality, that is really the most basic way to get out of debt and have savings.

Money stuffed inside envelope for money savings challenge

The 100 Envelope Challenge Can Seem Daunting

Look, I get it, the idea of saving $5,000 seems so out of reach but trust me, it isn’t.

This money savings challenge seems so daunting at first but once you start saving, it’s like a fire gets lit from underneath you and you just keep going. It’s quite invigorating.

And don’t get me wrong – not everyone will complete this challenge. Not because they can’t, it’s because they won’t.

Just like with everything in life, not everyone has the willpower and disciple it takes to complete a given task. There will simply be those that will give up because it isn’t as easy as they thought or perhaps they’ll lose interest.

And honestly, that is okay.

So, if you have the time, money or even motivation, I encourage you to give the 100 envelope challenge a try. And if you need a pep talk or some motivation, feel free to email me and I’ll do my best to help!

Happy Saving!