Yusra3
Banned
The 100 Day Envelope Challenge is a simple way to save money by setting aside cash for specific expenses.
You will need 100 envelopes and label them with the following categories:
• Groceries
• Gasoline
• Lunch Money
• Coffee Fund
• Clothes Shopping
• Emergency Fund
• Fun Money
Then, you will need to determine how much money you need to set aside for each category per week. For example, if you spend $100 on groceries per week, you will need to set aside $10 in your envelope labeled “groceries”. Anytime you have a surplus of cash at the end of the week, put it into your savings account so that it can grow over time.
Why Try It
The 100 Day Envelope Challenge is a great way to save money because it forces you to be mindful of your spending and stick to a budget. It is also a flexible system that can be customized to fit your unique financial situation. For example, if you know that you have a big expense coming up (like a vacation or a new car), you can adjust your budget accordingly and save more money in the weeks leading up to that expense.
You will need 100 envelopes and label them with the following categories:
• Groceries
• Gasoline
• Lunch Money
• Coffee Fund
• Clothes Shopping
• Emergency Fund
• Fun Money
Then, you will need to determine how much money you need to set aside for each category per week. For example, if you spend $100 on groceries per week, you will need to set aside $10 in your envelope labeled “groceries”. Anytime you have a surplus of cash at the end of the week, put it into your savings account so that it can grow over time.
Why Try It
The 100 Day Envelope Challenge is a great way to save money because it forces you to be mindful of your spending and stick to a budget. It is also a flexible system that can be customized to fit your unique financial situation. For example, if you know that you have a big expense coming up (like a vacation or a new car), you can adjust your budget accordingly and save more money in the weeks leading up to that expense.
