What is the 'envelope savings challenge'?
, a TikTok creator who learned about the challenge while on her debt-free journey, “Cash stuffing helped me be disciplined with my money, and the challenges made it fun.”
In the below TikTok, Washington is saving $10,000 in 100 days. In her notebook she has written every day with each amount next to it. Every time she gets paid, she puts that amount in cash into the envelope. Once the money is in the envelope, she crosses out that day so she can keep track of her progress.Taylor was also able to save thousands of pounds thanks to this method. “I saved over $11,000 in 2021 with it,” she says.
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