We are again here with another motivational article that can help you get $5,050. 100 Envelope Challenge is the mantra that is going to help you earn $5,050 in just 100 days. All you need to do is to get 100 envelopes and dedication to commit this challenge.
The challenge is going viral currently. If you want to participate in this challenge, then there are some points you should probably be aware of. Keep reading and you will get to know about all the budgeting “hack that will help increase your savings.
People who have tried this challenge have given excellent reviews. According to them, all you need for this challenge is willingness and dedication. And you are going to add $5,050 to your bank balance in the coming 100 days.
What Is 100 Envelope Challenge?
them from 1 — 100. Then place these envelops in a box, you can also reuse a shoe box that you might get at your home. Each day pull an envelope and drop amount of cash equal to the number written on the backside of the envelope. For example, if your get an envelope that has written 44 on it, then you have to put $44 in the envelope and keep it back in the box.
If you keep repeating it for 100 days then you will successfully be able to add $5,050 into your savings. If you want to get more money then you have to use two sets of envelops. Then, pull two envelopes every day and put the amount of cash written on the envelope. This will help you save $10,100 in just 100 days. Does it sound good? Hell yeah!
If the challenge suits you then you should go for it. There is no any harm to participate in such budgeting challenges because there is no certain risk attached to it. It will rather help you to save money for your upcoming crucial days.
100 Envelope Money Saving Challenge
Though there is no risk attached to the 100 envelope challenge but it has a couple of flaws that should be addressed before participating in it.
For instance, what if you draw the envelope number 89 and that day you don’t have that much money in your pocket? Well, this would be a huge deal. And right on the following day if you pull out the envelope 90 then it will be difficult for you to put $179 in the envelope in one week.
The participants of 100 envelope challenge have also added that, it is only possible to save a bunch of money when you have a spare amount of $5050 for next 3 months. To cope up with this problem you have one solution.
You can save your $5050 by spacing out your contribution. It means you can save money by not rushing in just 100 days. You can pull 2 envelopes in one week instead of pulling one envelope each day. So many people have used this method as it is not possible for every person to have spare $5050 with them in 9 weeks.
We know that it might not be much exciting for you to pull envelops and add cash but this method can help you to bulk up your net worth.
Also read 100 Days Of Rejection Challenge
This was all about the 100 envelope challenge that can help you increase your net worth. The method only requires dedication and some envelops. If you think that you need to save some money for your upcoming days then this is the best method you should attempt. Wish You Good Luck!