This fun approach, which transforms your way of saving into a game accessible to all, will help you put aside a good sum of money.
What if you took on a fun challenge to save money? In any case, this is what the latest financial trend that everyone is talking about: the envelope challenge offers. You’ll need money, of course, and 100 envelopes. If you manage to reach the recommended three months, you will save 5,050 euros. Explanations.
After the Loud Budgeting or the No Spend Challenge, it is once again on the social network TikTok that the envelope challenge, again aimed at saving effectively, appeared. But unlike previous trends, this one is particularly entertaining. Indeed, the concept is based on 100 envelopes numbered from 1 to 100, which will be drawn at random every day. All you have to do is place the corresponding amount in the selected envelope, in other words 20 euros for envelope number 20 or 82 euros for envelope number 82. At the end of the 100 days, or approximately 3 months, you should have set aside the exceptional sum of 5,050 euros.
With each draw, it’s a surprise. You cross your fingers that you hope not to come across the big envelopes when the weekend arrives, or on the contrary, you have a little money that you would like to invest quickly, so envelope 99 would come at just the right time. Either way, experts say: “When saving money becomes a challenge, it can be a source of motivation.” Moreover, “Knowing you have to reach the goal can stop you from spending on things you really don’t need and have always bought out of habit.” Not to mention the fact that it reduces your mental load as well as your planning obligations. In short, a concept that has everything right!
However, while for some people physically visualizing this money can make it easier, for others, keeping so much cash in their possession can be problematic. This is why there are equally profitable alternatives. In fact, you are free to place this money directly in a savings account. After drawing today’s envelope, all you have to do is make the corresponding transfer to your account. Easy, right?