How to Save $5,050 in 100 Days

How to Save $5,050 in 100 Days

I don’t know about you, but when someone says I can save $5,050 in 100 days, I get in the savings mood. For those who find saving money not only a struggle but a dreadful task, the 100 Envelope Saving Challenge could be your quirky, yet practical, solution. Not only will you 100% save $5,050 in 100 days if you stick to the rules of the challenge, but it is (dare I say) a fun saving activity.

What is the 100 Envelope Saving Challenge?

The name suggests that envelopes are necessary for this challenge. Between you and me, that’s a lot of unnecessary work, and no one wants to go out and buy 100 envelopes if they don’t have them already. As a result, I’m altering the setup so that all you need is paper, a pencil, and a small container (or you can go fully digital and I’ll tell you how further down). However, if envelopes add to the appeal, feel free to fulfill those envelope dreams.

To participate in the challenge, gather 100 pieces of paper. They don’t need to be large pieces; it would work just fine if you tear up a few sheets of printer paper. Number each piece from 1 to 100. Take those pieces, fold them up, and place them in a container you can easily pull from.

How to Save $5,050 in 100 Days

Every day, randomly select a piece of paper from the container. The number on the paper is the amount of money you will put into your savings that day. For example, if you draw a paper that says “40,” you’ll put $40 into your savings. I highly recommend putting this money into your savings account through automatic online transfers from your checking account. It’s quick, easy, and puts your money in a designated space. After 100 days, you’ll have $5,050 set aside in a safe and secure location. Your savings account may also earn interest depending on what financial institution you use. This interest can boost your savings even more in the long run. How awesome is that?


If you want to use envelopes, number each one from 1 to 100. You’ll complete the same process of randomly selecting one daily, but the difference is that you’ll insert the designated amount of money in cash into the envelope. The downside to this variation is that not everyone has larger amounts of cash on hand, and it can be tempting to simply remove the money from the envelope when you want to spend it. On the other hand, it can be gratifying to have that cash available at the end of 100 days, and it is more of a visible process you can see with your own eyes.

How to Save: Participate Digitally

“Paper? Who has time for that!” I hear you! I’ve made a completely digital version of this challenge for participants who want to save time, paper, AND money. Use a random number generator and our handy dandy digital envelope tracker for this alternative version. If you type “random number generator into Google, the search results should show a generator at the top of the page. If it does not, we recommend using a site like Giga Calculator.

Simply use the generator to give you a number between 1 and 100 and check off the given number’s box on your tracker PDF. If it generates a number you’ve already crossed out, hit generate until you get a new number you’ve yet to complete. WARNING: It will be tempting to keep generating new numbers if you don’t initially draw a lower number. Stay strong and honor the integrity of the challenge! You’ll thank yourself when you aren’t stuck with all the high numbers as you near the end of the 100 days.

Download The PDF!


Alternatives to the 100 Envelope Saving Challenge

If this challenge seems too intense for your current financial situation, don’t worry! There are variations that can better fit your budget. While it may change the total amount you save or how long you save for, the challenge is extremely adaptable. Here are two alternatives:

  1. Number 50 envelopes from 1-50. You’ll save $1,275 in 50 days following the same process.
  2. Pull two pieces of paper each week instead of one daily. You’ll save $5,050 in just under a year.

How 1166 FCU Can Help You Save

Opening a checking and saving account is easy as a member of 1166 FCU. By the way, if you’re eligible for membership and join the 1166 FCU family, there is only a $5 fee! That’s a $5,045 profit if you complete this challenge with us! Contact us today!