Save $10k in 100 Days With the Envelope Saving Challenge

Sun Feb 26 2023

Struggling to save money? The envelope saving challenge can help you save 10k in 100 days!

The envelope money saving challenge is a simple and effective way to help you save money quickly and easily. This challenge involves using envelopes to allocate money towards specific savings goals and saving a certain amount each day. By following this method, you can save $10000 in 100 days, which can go towards paying off debt, creating an emergency fund, or simply just accelerating your path to financial independence and retiring early .

In this blog post, we'll explore the envelope money saving challenge, how it works, and provide tips and strategies to help you reach your savings goal. I'll also include a savings tracker fro free so you can track your progress along the way to transforming your financial life!

How the 100 Envelope Challenge Works

The 100 Envelope Challenge is a great way to save money. The challenge went viral on Tiktok in 2021 and continues to be a popular way to save today. The idea behind this challenge is to divide your savings goal into 100 parts and save a set amount each day for 100 days.

To get started and do this the analog way, you will need 100 envelopes, a pen, and a container to store your envelopes. On each envelope, write the day number and the amount you need to save for that day. For instance, on the first envelope, you would write "Day 1: $1" and on the second envelope "Day 2: $2", and so on all the way to Day 100: $100.

Each day, you take the envelope for that day and put the designated amount of cash inside. You can then store the envelopes in a container until the end of the challenge. By the end of 100 days, you would have saved $5,050, which can be used towards whatever MO savings step you are at.

How does the 10k in 100 Days Envelope Saving Challenge Work?

The 10k in 100 Days Envelope Saving Challenge is a variation of the envelope money saving challenge, designed to help you save $10,000 in 100 days. Like the standard envelope money saving challenge, you will need to divide your goal into 100 parts, but instead of writing $1, $2, $3, etc. on each envelope, you will write the day number and multiply it by 2. For example, on the first envelope, you would write "Day 1: $2" and on the second envelope "Day 2: $4", and so on all the way until Day 100- $200.

By the end of the 100 days, you will have saved $10,100!

How Much Money Do You Save With the 100 Envelope Challenge?

With the standard 100 day saving challenge, you'll save you save $5,050. For the $10k in 100 days, you'll actually save $10,100.

Tools Needed to Organize Your 100 day Envelope Challenge

To begin the 10k challenge in 100 days, there are a few tools you will need to help you stay organized and motivated. First, you will need 100 envelopes, a pen or marker, and a jar or container to store your envelopes. You can purchase envelopes from a stationery store, Amazon, Etsy or use envelopes you have at home.

Next, you will need a spreadsheet or piece of paper to help you keep track of your savings progress. I've built this simple google sheet to track your daily savings. It's also helpful to have a calendar or planner to mark off each day as you complete it. This will help you stay motivated and visually see your progress everyday. Additionally, you may want to set reminders or alerts on your phone to remind you to save each day.

A Fun Way to Do the 100 Day Challenge

One of the reasons the 100 day challenge went so viral on Tik Tok was that people would pick their envelopes randomly so they would never know how much they'd need to save for that day. Instead of following a set savings plan, you can pick an envelope randomly and select a savings goal for each day of the challenge. Instead of putting the days on the envelopes, you just put the amounts. By adding an element of surprise to the challenge, you can make the process of saving more interesting and engaging, while still achieving your overall savings goal at the end of the 100 day money saving challenge.

The Digital Approach to the $10k in 100 days Challenge

So when I did the 10k savings challenge, I did the same process but decided to take a more digital approach. I love the analog, creative and hands on nature of the cash envelope system but for me it was just too much of a barrier to save.

First, instead of pulling out cash every day, I assigned separate savings account for this challenge and transferred money into the account daily. You should be able to do this penalty free given the dollar amounts are smaller.

Then I used this 100 day envelope challenge sheet I build to track my progress. Each day, I'd transfer the money at the same time every day (I set an alarm) so I wouldn't forget. Once I made the transfer, I'd go to the sheet and check the box next to the day I completed. My total would update and I'd be able to see how much I saved in total with the 100 day money challenge chart. For me, even though it was digital, it was still a fun way to save money and visibly see the progress I was making towards my financial goals.

10k in 100 Days Envelope Savings Challenge Chart

This is a 10k in 100 days envelope savings challenge chart to show how much cumulative savings you'll have every day. This assumes you're following the linear approach to the challenge and are not randomly picking the money envelopes.

Pros and Cons of the 10k in 100 days Challenge

The 100 envelope challenge is a fantastic way to save money but it's not for everyone.


  • Helps develop a savings habit: The 100 day envelope challenge can help develop a habit of saving money regularly , which can benefit your personal finances in the long run. Many people end up doing the 100 enevelope challenge several more times in order to achieve different financial goals they have or just to accelerate their path to financial freedom. For someone who has trouble saving money every month, this can be a great way to just start saving.
  • Encourages goal-setting: The challenge encourages you to set a savings goal and break it down into smaller, more manageable amounts. As James Clear says in his book, Atomic Habits, Habits are the compound interest of self-improvement. A small habit—when repeated consistently—grows into something significant."
  • Can customize it: You can customize the challenge to suit your individual savings goals by adjusting the amount you save each day. Some people save $5k with the 100 envelope challenge, some $1,000 by saving the same amount each day. You don't need to do the 10k in 100 days challenge, if it's not a fit for your lifestyle or financial goals.
  • Provides a visual representation of progress: By using envelopes to track your progress, you have a visual representation of your progress, which I found to be extremely motivating.
  • Encourages accountability: If you involve a friend, family member or financial coach in the challenge, it can help provide accountability and keep you motivated.


  • Tough to save the required amount each day: Saving a certain amount each day may be challenging for some, especially if you have other financial obligations or lower income. I felt a real pinch on the bigger money days especially when they were at the end of my pay period.
  • Can be time-consuming: The challenge requires you to manually track your savings progress each day, which can be time-consuming. Again, you may want to opt for the digital version of this challenge like myself in order to minimize the hassle.
  • Doesn't work for everyone: While the envelope challenge may be effective for some people, it may not work for everyone, and other savings methods may be more effective.
  • Can be limiting: The challenge may require you to cut back on certain expenses , which can be limiting or difficult for some.
  • May not be sustainable: While the challenge may help you develop a savings habit, it may not be sustainable in the long run, and you may need to find other ways to save money over time.

Tips to Increase Savings with the 100 Envelope Challenge

  1. Follow a budget based on your goals: As James Clear said, "The process of behavior change always starts with awareness." You need to be aware of your habits before you can change them. A budget is simply a plan that helps you build awareness of your spending and it's a tool to tell your money where to go. Start budgeting to understand where your savings opportunities are.
  2. Align your spending to your values: When you start budgeting, you'll start to become conscious of your spending money and how it aligns with your values. Use this excercise to start allocating more money to the things you value and cut out the spending that doesn't bring you joy. Take that extra money and toss it in your savings account for the challenge!
  3. Build money savings systems: By focusing on implementing systems to improve our spending habits we can start to actually make real progress on our savings goal. Here are a few systems we used to save more every month.
  • Costco: Bought a membership to costco and did a quarterly costco RUN.

  • Cooking on Sundays: This gave us guaranteed meals throughout the week and minimized the urge to eat out at lunch. Reduced lunch eating out to 1/day per week vs 5- Saved $80/week or ~$345/mo.

  • Amazon Subscribe and Save for Household Items: Reduced impulse buying at store/bodega around the corner

100 Day Envelope Savings Challenge Variations

There are several variations of the 100 day envelope savings challenge that you can try to customize the challenge to fit money goals. Here are a few of the popular ones:

  1. Classic 100 day money challenge: Save $5,050 over 100 days by saving the same dollar amount as the day on the envelope.
  2. Reverse envelope challenge: Instead of starting with a specific savings goal and working towards it, start with a larger amount and work your way down by reducing the amount saved each day.
  3. Weekly envelope challenge: Instead of saving money each day, save a larger amount once every weeks. This can make it easier to budget and plan for larger expenses.
  4. Assign a goal to the envelope challenge: Assign a goal like "emergency fund"to the challenge.
  5. Randomized envelope challenge: As mentioned earlier, you can randomly choose the different envelopes each day can add an element of surprise and excitement to the challenge.

By trying out different variations of the 100 day envelope savings challenge, you can find the one that works best for you and helps you achieve your savings goals.

Other Money Saving Challenges for Lower Income Households

Custom money saving challenges can be particularly helpful for those with lower incomes. While the 10k, 100 day envelope challenge may not be feasible for everyone, there are several modifications that can be made to make the challenge more attainable even if you have a lower income.

6 Months Money Challenge

One option is to extend the challenge over a longer period of time, such as a 6 month challenge or even a year, to allow for smaller savings amounts each day. Another option is to save a smaller amount like the $1,000 savings challenge in 100 days.

Also remember that every bit counts, and even small amounts saved each week or month can add up over time. By customizing a money saving challenge to fit your unique financial situation, you can still make progress towards your savings goals, no matter your income level.

Free Resources to Help You Start Saving Money

Are you ready to start your 10k in 100 days envelope challenge? Here are some free resources to help you get started!

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