How to Save $5K with the “100 Envelope Challenge”

The 100 Envelope Challenge has gotten quite the buzz on social media. Some are saving $5,000 in 100 days.

What would you do with $5,000 cash?  Pay down some debt, plan a vaca or give extra big at Christmas this year?  There’s a way to get there and it has gotten quite the buzz on social media. The 100 Envelope Challenge can save up that $5,000 in just 100 days.   You label 100 envelopes 1 to 100, and over 100 days place specific amounts in the envelopes corresponding with the number on the envelope.  Tips for success include creating a budget, increasing your income by getting a side hustle, or selling some stuff.  You may also need to cut your spending.  Be sure to set a deadline for how long you need to fill the envelopes.  Doing this with a friend or family member will give you extra support and inspiration.