How long does the envelope challenge take? Follow us on TikTok, Instagram, Facebook and Twitter. With 50 envelopes, your savings would total £1,275 at the end of the challenge, and you can pick just one envelope a month and still finish the challenge in under a year.ĭiscover, learn, grow. You can also adjust the number of envelopes to make a more realistic goal for you. When all the envelopes are filled with the labelled amount, you will have saved £5,050 in total, all in less than a year. If you're worried about picking two high envelopes, you can split the envelopes into two piles, one labelled 1-50 and the other 51-100, and pick one from each every week, or two low ones if you're having a tight week or month, two high in a good one, etc. Whichever two you pick out, you put whatever amount of money in that the label calls for, and stow them away. So, the one labelled one you put £1, two you put £2, and so on.Įvery week, you pick out two envelopes at random, so make sure to shuffle them up so you don't know which one you pick out. You will need 100 envelopes, each numbered 1-100, and each number on the envelope will indicate how much cash to put in it. READ MORE: Aldi shelves 'bursting' full of product dubbed 'last year's Prime drink' How does the envelope challenge work? ![]() Here's everything you need to know about the challenge, including how it works, how much you can save, and how long it takes. The challenge has gone viral on TikTok as people share their money saving techniques, reports the MEN. The envelope challenge can help you to save more than £5,000 in less than a year by putting cash away in different envelopes each week. As many of us are looking to financially recover from the festive period, more people will looking into different money saving tips and tricks.
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