“Define success in your own terms, achieve it by your own rules, and build a life you’re proud to live.” - Anne Sweeney, President of the Disney–ABC Television Group. And because this challenge is long, you will be giving yourself a savings habit that may last for years to come! And this, my friend, is how financial empires are made. In my opinion, the BEST benefit of any money challenge is that it helps you build a habit. It’s true.īut a challenge can quickstart your good intentions and transform “I should” statements into “I can’t believe I did that!” statements. Saving money isn’t as exciting as spending it. How Can I Save $10,000 In 6 Months?Īfter the 200 days envelope challenge (about 6.6 months), you will have an extra $10,100 in your pocket. For example, if you negotiate down your insurance bill and save $53, you can find your envelope labeled “53” and use it (instead of picking at random). VARIATIONS: You could also do the envelopes in order or deliberately choose the envelope for each day. After you pull it out a second time, you will transfer the envelope from the group into a “completed” pile. After you put money in an envelope the first time, checkmark the envelope so that you know you’ve done it once. (If you draw a 39, put $39 in that envelope.)Ĥ. That is the amount you need to save for that day. Each day, pull out an envelope at random. (65 = $65) (The difference is that you will use each envelope 2x to make it to your 200 days)Ģ. These are the dollar amounts you will put into each envelope. Take 100 envelopes and label them 1-100, just like with the 100 envelope challenge.
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