10K in 100 Days Challenge: Best Way to Save Money

Emergencies can come anytime, and it becomes necessary to have good savings so that you can deal with those emergencies. Do you know, 43% of Americans don’t even have $1000 in their emergency funds? We know you don’t want to be one of those 43% Americans, and that’s why you’re here.

Do you want to save money but don’t know how to do it? If yes, this article is for you. Here we will tell you about the 10k in 100 days challenge where you’ll be able to save 10k in just 100 days. Are you ready? Let’s see what the 10k in 100 days envelope challenge exactly is. 

All About 10k in 100 Days Challenge

With the help of the 10k in 100 days challenge, you’ll be able to save 10k in 100 days. This will save you from taking loans and you’ll be able to use your own money when you need some extra money. This $10k in 100 days challenge helps you save money from your income, as well as stops you from overspending. 

Things You Will Need

For our 10k in 100 days challenge, you’ll need 100 envelopes. You need to write 1-100 on these envelopes or you can either buy the printed envelopes on which numbers 1-100 are already printed. Keep these envelopes serial-wise. 

How Does 10k in 100 Days Challenge Work?

Now that you have envelopes, you can start saving your money. On day one, take out envelope number 1 and put $2 in it. On day two, take out envelope number 2 and put $4 in it. You simply need to multiply the envelope number by 2 and put that much money in the envelope.

For example, if it’s day 15 and your envelope number is 15, 15 x 2 = 30, so put $30 in the envelope.   

How Will You Have $10,000 in 100 Days?

Well, it’s simple maths, no rocket science. 

1st Day = $2

11th Day = $110

21st Day = $420 

31st Day = $930

41st Day = $1,560

85th Day = $7,230

100th Day = $10,100

This is how you can maintain 10k in 100 days challenge chart.

Whether 10K in 100 Days Challenge is Good for You?

It totally depends on your income and expenses. If you have a good income, you’ll not have to compromise much with your lifestyle at the end of the 10k challenge in 100 days. If your income is less, then you can try the 5k in 100 days challenge. In this challenge, you’ll have to put only the amount equal to the envelope number in the envelope. By the end of 100 days, you’ll have savings of $5,050.

How to Make it Fun?

If you want to make this challenge fun then you can shuffle the envelopes. It will become a daily surprise for you. You can also fill 2-3 envelopes each day to finish this challenge faster. It is a flexible challenge, you can make any modifications that you want. 

Final Say

The 10k in 100 days challenge is the best challenge to save 10k in just 100 days. The challenge might get a little tough for you in the end, but all you need to do is stay determined and cut on some of your expenses if needed. If you’re worried that you might forget to put money in the envelope then you can set a reminder or alarm so that you get notified every day. 

Also Read- Best Personal Loans for Good Credit

If you don’t want to use envelopes then you can transfer the amount into your savings account. This way, you’ll also get an interest amount from the bank on your savings. All in all, you can modify this challenge as per your needs. 

FAQs: Frequently Asked Questions

Q1- How much will you save doing the 100 envelope challenge?

If you stick to our 100 envelope challenge for 100 days strictly then by the end of 100 days, you’ll have savings of $10,100. If you want to increase your savings then you can increase the amount of money you’re putting in the envelope.

Q2- What if I forget to put money in the envelope?

Well, it can happen that you might forget to put money in the envelope, after all, we are humans only. But the best you can do to avoid this is to set a reminder or alarm on your phone so that you get notified every day to get rich by saving money. You can also make this a habit by doing this first thing in the morning.