Yeah it’s seem very unrealistic but, every paycheck is possible or team up with a partner or friend whose willing to do this challenge so it won’t seem overwhelming for one person.
This amount of saving is unrealistic for most people. A feasible way to do this for low income people (such as myself) is to just add whatever you can to the envelopes each day. Don’t pay attention to the number on the envelope. I only add $5 if that’s all I have. Also, you don’t even have to add to the envelopes EVERY day. The goal is to just fill 100 envelopes. Whenever you finish the challenge, it’s fun to open them and see how much you’ve saved. And use cheap envelopes or make them using scrap paper.
I’ve heard of people doing it by adding the numbers together so if you have $99, you do 9+9=18. You can make it whatever you want to though. I’ve seen some people pull them for the next week, maybe one or two, and then they figure out where the money would come from when planning the next paycheck. The important thing is to save. ❤
you could also do the challenge and when you get to double digits, you can just add the 2 numbers together and put that amount. Ex: 12=1+2 (3 dollars) and when you get to the 100th number add 10+0 for $10. You'll save about 900 like this. It may not be the $5,050, BUT you've saved something!
I recently started my challenge and I grabbed the $2 envelopes from Walmart. I put them back in the box that they came in after I numbered them and wrote “savings challenge” on the box.
folks, you dont need to do this each day. Pulling 2 numbers (a low and a high one) each week gets it done in a year. 🤩 Or you can do what i do and just fill an envelope when i can. if i have an extra $15 from groceries i’ll find the nearest denomination close to that and fill. Or if its a bigger number (eg 100) it might take me a few smaller deposits to have it all, and thats ok too! you do whst works for YOU! 😊
I do the weekly challenge but a digital version where I move money from my checking to my savings. Me personally, I don’t carry that much cash and I don’t feel comfortable having that much cash on hand but do what works best for you!
My method is focusing on the big numbers first and then working my way down. I’m also doing this over 6 months. My thinking behind it is if I can do it in 6 months, I can definitely do it again. $10k in one year seems good to me. I’m achieving this by cutting down on weed, iced coffee from Dunkin & no take out food, only cooking at home. I’m super focused!
I agree with a lot of the comments that others are making about how it’s not realistic. It would probably work better if you did it once every paycheck whether you get paid weekly or biweekly would make more sense every day not so much.
When people save but spend $13 on envelopes. Savings is in all forms. Shop around to lower your insurance, swich cell plans, review subscriptions and get thing that dont matter at dollar tree, like envelopes.
Please say those envelopes were on sale because 12.99 for a box of just colorful envelopes.😳😳.. made me clutch my pearls lol 😂🤣 I love the Lisa stickers #nostalgia
For the people complaining about the envelopes price, a thing you can do is take a bag and put the numbers from one to hundred in different papers and every day pick one number and save that amount in just one envelope. That way you can still do the challenge and save money at the same time.
What happens when u pull an envelope out nd don't even have enough to put in said envelope? Single Mom here nd sometimes I have $40 left to last me the week. Guess this challenge is a challenge for the already rich folk, the ones that don't necessarily need any extra money ya know.
Yup this comes off as more for people that have money but poor impulse control. You can try doing smaller amounts. There’s no rule that says it has to be 1 to 100. Do like 1 to 5 and repeat those until you hit 100 envelopes. That will add up to $300, which is a good start for an emergency fund.
I'm confused with your # $ amounts.?! So I will need $5,000 to start this challenge if i stuff each daily envelopes minus $12.99 envelopes ✉️ im already in the red!
Right!? I thought this too like suppose I get 88, 99 and 95 in a row? If I had thousands in cash just laying around I wouldn’t be poor enough to need to save money in pastel envelopes in the first place 😅
Pk my thoughts is if you have bills. You dont have anything left to put in envelope. Maybe do the budget envelope system. You tag each envelope with the name of the bill. Add to it so when bill comes you have the money. Then have one envelope for savings
Pull 2 envelope every pay period , I don’t have that each day ma’am 😂, must be nice, 🤷♀️. The goal is to fill 100 envelopes go at your pace. You can also do a 1-20 envelope that’s $210 or even a 1-50 envelope that’s $1255. Do what you can and make it fun. 💙
That's only possible if you earn enough. If anyone can't afford that they can put £/$1 per day. If this is too much do 10 pence/cents. MAKE SURE YOU PUT IT A SIDE EVERY DAY.
I heard you can buy those card-sized envelops from the dollar tree, seal them and cut them in half. 50 envelopes turn into 100 smaller ones for your challenge :)
I'm doing this challenge differently by filling each corresponding envelope with the money when I have that money to spare. It's more realistic for me that way. I can slowly fill the bigger number envelopes with money until it's full.
Hi, I have an important question to ask: can you advice methods to keep the saved money safe at home in case of theft? I really like the idea of the envelope challange but I am scared to save so much money and leave it at home
If most people had $5,000 in the first place to stash away they probably wouldn't be looking at money challenges and besides it seems as tho it's more like a game you play with only you being player to see what the price of the envelope holds for you that day or week or whatever. It's almost like a pyramid scheme to me, but that's only my opinion. Good luck to those of you who try this and the method actually works. Guess ya gotta have money to make money, but us who are not so fortunate needs a challenge that you don't have to invest so much. I guess this would work if you number the envelopes from 1 to 20 or just whatever amount you can afford to put back at random.
I have 73 Envelopes X 5 = 365 Days $13,505 Year. ~My other idea is having 4 envelopes to determine how much fun money each child gets to spend on the weekends. I want them to learn how to budget, as well as to understand that there are fun things to do that don't cost a lot; so then they also learn to keep an Emergency Fund for those unexpected events. I mainly want to prepare them for moving out by 19, so they need to work at a company that don't sell food. 10 Y/O gets $150mo $10 20 40 80 15 Y/O gets $225mo $15 30 60 120 18 Y/O Rent Free $0 If there's a Failure to Launch: 19 Y/O rent: $500 20 Y/O rent: $1,000 21 Y/O rent: $1,500
For the broke folk...number the envelops 1-5, 20x or 1-10, 10x,, and then randomly pick an envelope every day. Won't save as much, but every penny counts 🤷🏾♀️
you can probably find them at a craft store but they will be pricey. maybe check your local dollar store/tree first? that's definitely what I'm gonna do and if they don't have them then I'll go to a craft store lol. good luck!
Most of the peoples can't manage this much amount according to envelope numbers...u just have to put randomly amount in any envelope...( I also do this cuz im not manage that much if try to put amount according numbers..i just randomly fill-up my envelope) its easy for everyone
That’s my easy and saves so much money instead of buying something you can only use once. I’ll do this for next time!! ❤❤ it would save the coins falling out as well ($1 & $2 coins)
Me entristece que en mi país no existen tiendas geniales como en EU, Corea, Japón y otros lindos países, o por lo menos no cercano a mi comunidad, y las pocas que hay son carísimas las cosas que venden ahí😢😢
For those who dont need envelopes and stickers, just put away a little over $56/day or $1,680 per month for 3 months and you get about the same amount, some $5,000, which is the minimum that is recommended to have set aside for an emergency fund. Of course, for some people, that is close to an entire month's salary, in which case, you would have to get a second job or figure out a way to become a double income household.
Not to be nosy:) How are you having all that cash for each day. I want to.do this! But I would be pulling out cash at the bank 1 to 2 times a week Currently I transer money each week from checking to savings Teach me youre ways!!!
yall saying she spent too much money on envelopes but yall don't realize the reason she can spend that is bc she saves money how it works for her. she's able to afford $12 envelopes and im so happy for her. I hope to also be able to one day afford $12 envelopes just for the aesthetic 😭 thank you for this idea I'm totally gonna try it! (but with supplies in my budget LOL)
“Each day” 😂 I’m sorry but that’s very unrealistic. Definitely do this at your own pace, whatever works for you. It’s not a one size fits all solution for everyone.
I add money everyday with my system. I have 73 Envelopes X 5 =365 Days, to save $13,505 Year ~Another good idea is to have 7 envelopes that determin how much fun money each children get to spend each week. They need to learn how to budget and understand that sometimes you just don't get to go out; so then they learn to keep an Emergency Fund for those unexpected events. 5 Y/O gets $75wk $5 10 20 40 10 Y/O gets $150wk $10 20 40 80 15 Y/O gets $225wk $15 30 60 120 18 Y/O gets $0 1Yr Free Rent! If there's still a Failure to Launch, they will pay rent: 19 Y/O pays: $500mo 20 Y/O pays $1Kmo 21 Y/O pays $2Kmo 22 Y/O pays $3Kmo
