It's relatively easy to save $10,100 with the 100 envelope challenge. From 1 to 100, you number the envelopes. You pull out a random envelope each day and put in the amount of cash that is written on the envelope. You should have $10,100 once all the envelopes are sealed! HOW DOES THE 100 ENVELOPE CHALLENGE WORK?In a box, put 100 envelopes and shuffle them. You then pull out an envelope from a box and stuff it with the amount of money that is written on it. By the time all envelopes are filled, you will have saved $10,100. If you have extra money, you can set up an emergency fund, pay off your credit card debt, or take a vacation! What is your frequency of opening envelopes? In general, you can decide how often you pull out an envelope. Depending on how many envelopes you pull out each day or week, the challenge can be completed in 100 days, 50 days, or 100 weeks. When you are paid biweekly, for example, you can draw one envelope every two weeks and use the money saved to save money. You can also pull out an envelope every day for 100 days if you prefer. In 100 days, you can save $5,050 with the 100-day envelope challenge. See our 52-week money-saving challenge if you prefer a 52-week challenge. Well, it’s simple Maths, no rocket science. 1st Day = $2 11th Day = $110 21st Day = $420 31st Day = $930 41st Day = $1,560 85th Day = $7,230 100th Day = $10,100 This is how you can maintain 10k in 100 days challenge chart. HOW TO DO THE 100 ENVELOPE CHALLENGE?Here are the items you will need:
ADVANTAGES OF THE ENVELOPE CHALLENGE
THE PROBLEMS WITH THE ENVELOPE CHALLENGE
Final WordsIt is a little difficult for you to do 100 envelopes, but it is quite enjoyable in the end. The result is very lovely. You will be encouraged to reduce your unnecessary expenses and motivated to save for the feature by participating in this 100 envelopes challenge.
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AuthorHi, I was born and brought up in USA. I am a certified financial advisor with years of experience in the field. I have worked with a variety of clients, from individuals to businesses, and have helped them achieve their financial goals. I see most people are asking me how to save their money through the 100 envelope challenge, and stay motivated on challenge days ArchivesCategories |