What Is The 100 Envelope Challenge on TikTok And Does It Work?

As the cost of living crisis continues to rise, nearly all of us are trying to find ways to save money. TikTok’s latest money-saving hack could apparently help you save £5,000. It’s called The 100 Envelope Challenge and it works by putting money away in labeled envelopes over the course of 100 days.

It apparently works by first labelling envelopes 1 through 100, with the idea of filling up each envelope chronologically. For example, on day 20, you would find envelope 20 and put £20 in it. So by the end of 100 days, if you’re able to you would have saved £5050.

Some users prefer to use this sporadically instead of chronologically. So, today you might pick up day 1 whilst tomorrow you may pick up day 30.

A few users swear by it and have successfully completed the challenge.

Others think the challenge is a bit unrealistic to complete in 100 days. “I don’t even make 5000 in 100 days,” one user said. “Step 1 – have money,” another added.

If your income doesn’t allow you to complete this in 100 days, you can set yourself a target to complete it within a few months or even a year, the result stays the same.

But, most people now don’t have random stacks of cash on hand. Instead, you could complete the challenge digitally. You could create a pot on Monzo or use a normal savings account and set up a direct deposit of money every week.