The 100 Envelope Challenge: Save $5000 In 100 Days

Chidinma Ofoegbu
September 28, 2023
How To Save $5000 With 100 Envelope Challenge?

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T ikTok is known for initiating trends and pioneering internet challenges. 

One such challenge is the 100 Envelope Challenge. 

It began in 2021, and the first video about it gained over 150 million views on TikTok.

Jasmine Taylor, the brain behind this saving challenge, completed the task 3 times to show that it works.

After Jasmine, many others joined in and tried the challenge. 

They found it helpful in paying off their debts and sorting out other necessary challenges. 

Saving money can be tough, but this challenge gamifies the process, making it more fun. 

The challenge is simple: get 100 envelopes, label them, and save a certain amount of money in each envelope for 100 days.

If you’re new to this challenge and want to know more, this blog will give you all the answers.

We’ll explain how the challenge works, the good things about it, and the not-so-good things too. 

Let’s get started!

What Is The 100-Envelope Challenge?

The 100 Envelope Challenge is a creative method to save money, using actual envelopes and cash to help you amass $5,000 or more in savings over about 3 months. 

Here’s how it works: you begin with 100 envelopes numbered from 1 to 100. 

Each day, for 100 days, you stash away $50 in different envelopes. 

When you reach the end of the 100 days, you’ll have $5,000. 

You can adjust the amounts based on your budget, but the main objective is to save a specific sum each day.

This challenge presents an enjoyable way to set aside extra funds for upcoming financial goals. 

Yet, it’s important to remember that the challenge relies on using physical cash and might not be the most optimal method for saving, as financial experts suggest.

What You Need To Do The 100 Envelope Challenge?

To take on the 100 Envelope Challenge and work towards saving $5,000 or more, you’ll need the following:-

1. Envelopes:

You’ll require 100 envelopes for this challenge.

These envelopes will serve as your designated savings compartments.

2. A Container:

You’ll also need a container to hold the envelopes so no envelope goes missing. 

3. Labels Or Numbers:

You’ll need labels or a numbering system to mark each envelope from 1 to 100.

This helps you keep track of your daily savings.

4. Cash:

You’ll need to have physical cash on hand to put into the envelopes.

The challenge involves setting aside a specific amount of money each day.

5. Daily Commitment:

Dedicate a few minutes each day to put the designated amount of cash into the corresponding envelope.

Consistency is key to the challenge’s success.

6. $50 Per Day:

The challenge typically suggests saving $50 per day.

This amount can be adjusted based on your financial capacity, but the goal is to maintain a consistent saving habit.

7. Patience And Discipline:

Like any savings endeavor, the challenge requires commitment, patience, and discipline to ensure you follow through with saving money every day for 100 days.

Are you up for the challenge of saving $5,000 in 100 days?

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How Does The 100 Envelope Challenge Work?

The 100 Envelope Challenge is incredibly straightforward.

There are a couple of ways you can approach it, but let’s start with the basics.

1. Get Your Stuff:

Get 100 envelopes, a container for them, and decide how much money you’ll save each day for the next 100 days.

2. Label The Envelopes:

After you have gotten your envelopes, proceed to number the envelopes from 1 to 100.

You can write the numbers on the inside of the envelopes or on a piece of paper to put inside

3. Daily Routine:

Each day, select one envelope randomly from the container.

Deposit that amount of money into your bank account.

4. Keep Going:

Do this every day for 100 days.

If you stick with it, you’ll have $5,000 saved up at the end.

5. Keep Track:

Write down which envelopes you use and how much you save.

It’ll help you stay organized and motivated.

What Are The Benefits Of Participating In 100 Envelope Challenge?

If you find it hard to save money every month, the 100-day envelope savings challenge could be really helpful. 

It’s a great way to save a lot of money in just a short time. Here are ways the challenge can benefit you.

1. Structured Savings

It provides a structured way to save money daily, which helps you develop a routine of setting aside a small amount daily. 

This regular habit of saving can make it easier to manage your finances and work towards your financial goals. 

It’s like taking a small daily step that adds up to a big achievement.

2. Making Saving Fun 

The challenge makes saving money feel like a fun game. 

It’s a way to turn saving money into something enjoyable and interesting, which can keep you excited to save even more. 

Sharing your progress with your friends and family can make it even more fun, as they cheer you on and maybe even join in too!

3. Creating A Sustainable Habit

Setting aside a certain amount of money every day for 100 days can help you build a strong habit of saving. 

This habit might stick with you even after the challenge ends, creating a lasting way to save money regularly. 

4. Building Emergency Funds

The money you save through the challenge can become the base for an emergency fund, providing financial security when unexpected expenses arise. 

It’s like having a safety net that you can rely on to help you through tough times.

5. Achieving Big Goals

The savings accumulated from the challenge can be directed towards major aspirations, like saving for a significant purchase such as a home down payment or an exciting vacation.

What Are The Disadvantages Of Participating In The 100 Envelope Challenge?

1. Cash Requirement

The challenge needs a significant amount of cash available, which might not be convenient or doable for everyone. 

Making $5,000 in just 100 days might be challenging for some individuals.

2. Risk Of Loss Or Theft

Keeping large sums of cash at home increases the chances of loss or theft, which could be a big concern.

3. Loss Of Value

Patrick Di Cesare, a certified financial education instructor, mentioned to TIME that although the challenge is a creative way to save money, storing cash at home is like hiding it in your yard or under your mattress. 

This approach could lead to a potential loss of its value over time.

4. Rigidity

The challenge mandates a fixed daily saving amount, which may not be adaptable to everyone’s financial situation.

5. Limited Growth Potential

While the challenge can help you establish a savings routine and offer some financial safety, it might not be the most effective method for long-term savings or investment growth. 

There could be better ways to make your money work harder for you in the long run.


If you’ve tried different ways to save money and they didn’t quite work out, don’t worry! 

The 100 envelope challenge might just be what you need to start saving successfully. 

Giving this challenge a shot and sticking to the plan can help you begin saving regularly. 

Take a step towards a better financial future – one envelope at a time! 

Will you try this challenge? If yes, let us know in the comments.

We’re certain this blog has provided you with valuable insights. 

If you’d like to receive more blogs like this, please consider subscribing to our newsletter. 

By doing so, you’ll be the first to know when we publish new content. 

Remember, knowledge is key to financial prosperity.


If you prefer a digital approach for the money-saving challenge, you can use a printable 100 envelope challenge chart and set up a dedicated bank account.

Transfer money into the account whenever you pick a digital envelope.

You can use an online random number generator to select envelopes since digital envelopes aren’t possible.

Consider transferring the money to a bank account for future use – this could serve as an emergency fund or long-term savings, with the option of choosing a high-interest savings account like a CD.

Alternatively, if immediate use is required, deposit it into your checking account while ensuring separation to prevent accidental overspending.

The timeline is flexible – you can adjust the challenge to fit your pace.

What’s important is the habit of regular saving, even if it takes longer than 100 days.


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