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Since we love saving over here, I want to share my favorite, go to, number one pick savings challenge. The Envelope Savings Challenge. You may have heard of the 100 Envelope savings Challenge, but I want to share an envelope savings challenge that I have used over and over again. It is the 20 Envelope Savings Challenge. It is a great way to start saving money because it’s not too high and not too low. And of course, I am giving you this challenge as a FREEBIE! (Scroll to the bottom to access the savings challenge)
The Printable 20 Envelope Savings Challenge
The first savings challenge that I completed was a 100 Envelope Challenge. I would like to say that it was fun and that I liked it, but that would be a lie. It took forever to complete and there were times when I would go weeks without touching it. I realized that I needed a savings challenge that gave me quick wins and encouraged me to continue to save money. That is why I love the 20 Envelope Savings Challenge. This challenge will help you to save $210!
I even have a 15 Envelope Savings Challenge in my shop that went viral. I think that it became popular because it felt more achievable and it is the small amounts that add up. When I began my savings journey I didn’t have a lot of money to save, so a large savings challenge made me feel overwhelmed. There are a lot of people who love the 100 Envelope Savings Challenge and successfully complete it, but I realized that it wasn’t for me.
If you are looking for a savings challenge that will help you get into the habit of saving money, then I would suggest that you try this 20 Envelope Savings Challenge!
How to Complete the Savings Challenge
The 20 Envelope Savings challenge is a color and save challenge. There are 20 envelope images on the tracker with amounts on them from $1 to $20 (This is where the 20-envelope name comes from). Each time that you save an envelope amount color in the envelope. Continue to do this until you have saved and colored all 20 envelopes. At the end of this challenge you will save $210!
To make it a little more fun you can use mailing envelopes or any other envelopes and write numbers 1 to 20 on them. This matches the numbers on the tracker so that you can put the amount that you save with the matching envelope.
How Often Should You Add Money to the Challenge?
Before I start a challenge I like to decide how often I will add money to my challenge. This is important because I use a zero-based budgeting system. I budget every dollar of my income, so I assign a certain amount towards my savings challenge each paycheck.
I typically add $200 to $300 a week to my savings challenges. This depends on the savings challenges that I am working on and the goal completion date.
I have seen people choose an envelope a day and save that amount. Add money to the savings challenge each pay period. Or use their leftover money from cash envelopes to put into their savings challenge. The goal is to add money regularly so that you are closer to reaching the $210 savings amount.
I think that it is important to decide how often you will add money to your savings challenge. This will help you stick to completing the challenge and be consistent with saving. This builds the habit of saving money.
Get Your Free Printable 20 Envelope Savings Challenge
By this point I know that you are ready to start saving, so let me tell you how to get this freebie! To get your Free Printable 20 Envelope Savings Challenge fill out the form below to receive access to the free resource library. Don’t worry, I won’t send you SPAM. I provide periodic updates on new resources available to my community.
After filling out the form, you will be emailed a link to the resource library and a password. If you have already filled out the form and received an email with the password to the resource library, then click here to access the Free 20 Envelope Savings Challenge Tracker.
It’s Time to Save!
One final thing that I want to add, is that it’s time to challenge yourself. If you have been putting limits on how much you think that you can save or how much money you can make, it’s time to push past those limits. A lot of people tell me that they can’t save because they don’t have extra money.
I started my savings journey by saving change and $1 dollar bills. I would buy coffee daily and lunches daily and be frustrated that I didn’t have any money left. I decided that my savings were more important than my daily caffeine comfort, so I made some changes. No, I didn’t completely cut out lunches and coffee, but I reduced how many times a week I bought them. I took my lunch to work. I bought a coffee machine and made my own coffee.
I then started to have extra money that I put into my savings challenges. I started small and was able to increase my savings over time. I’m telling you this because I don’t want you to give up on saving money, paying off debt, or the other goals that you have. IT’S NOT TOO LATE! YOU CAN DO THIS!
Before you start saving, please leave me a comment below letting me know if you have ever completed an envelope savings challenge. Don’t forget to connect with me on social media: @butterflydigitalco
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