Read Download Low Income Savings Challenges PDF – PDF Download (2024)

FAQs

What is the $5050 savings challenge? ›

The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.

There are no complicated rules to remember. Week 1, you save $1.00. Week 2 you save $2.00, and it continues through the year, adding one more dollar to each week's savings goal. By Week 52, you'll set aside $52.00, which will bring the year's total savings to $1,378!

Match each week's savings amount with the number of the week in your challenge. In other words, you'll save $1 the first week, $2 the second week, $3 the third week, and so on until you put away $52 in week 52.

The 100-envelope challenge is a way to gamify saving money. Each day for 100 days, you'll set aside a predetermined dollar amount in different envelopes.

The 100-Day Savings Challenge helps you to gradually save up the money to reach your goal of $20,000. This $20,000 Savings Challenge Printable can serve you for so many purposes, such as paying off debt, setting it aside for a house down-payment, taking a vacation, increasing your emergency fund and much more.

It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random. After you've filled up all the envelopes, you'll have a total savings of $5,050.

If you saved $1 a day for a year, do you know how much money you'd have? Roughly $30,000. This is totally 100% true.

Stay motivated and on track to reach your $10K savings goal by tracking your progress. In this version of the challenge, each envelope has a different amount for you to choose from. As you save, color in 1 envelope a day for 100 days or 2 per week for 50 weeks. This instant download comes with a bonus cash envelope.

What is the 365 day money challenge? ›

January starts with a daily savings rate of $1/day. Every subsequent month increases in $1 increments with December ending in $12/day. You can save a dollar a day for 365 days or have more savings per day and establish an even bigger savings pot at the end of the year!

The idea is to split up your money according to how much you want to spend in each category—and then only let yourself spend until the cash in each envelope is gone. Envelope budgeting works best for variable expenses, like groceries and dining out, which change slightly every month depending on your spending habits.

It's a simple, low-tech way to gamify your savings. You label 100 envelopes 1 to 100, and over 100 days (or more), whatever number is on the envelope you select, you stash that amount of cash in there. The math works out to $5,050 when you're done! (1 + 2 + 3 + 4 . . . you can double-check us if you want.

Essentially, you take 100 envelopes and number them from one to 100. Then, you place these envelopes into a box or container. Each day, for 100 days, you draw an envelope from the box and place the amount of money that's written on it inside the envelope.

Label your envelopes from £1 – £50. The corresponding amount of money will go in each envelope. Then, place the envelopes in the box. Each week pick out an envelope to fill up – you don't have to go in order, some weeks you might have more money left over than others.

With this challenge, you save weekly rather than daily. And this amount goes up incrementally. Essentially, you save £1 for each week you are on in the year. So week one = £1 and week 52 = £52.

The $20 money-saving challenge is a straightforward savings method. Every 2 weeks, you set aside and save $20. If you stay on track, you'll save $520 by the end of the challenge.