![]() If some weeks you’re afraid to pull two high envelopes, people who have taken part in the challenge have recommended splitting the envelopes into two piles. If you’re having a particularly good month financially, some TikTok users have recommended pulling a third envelope in order to reach your target quicker. The aim is to hit the 5k in less than a year - if you pull two envelopes a week, you will have completed the challenge in 50 weeks. However, if this is not a realistic goal for you, you cut back to 50 envelopes, lowering your savings goal to £1,275. The goal of the envelope challenge is that you will have saved £5,050 in less than a year. Once you’ve picked an envelope, you have to put in the number of pounds as is written on the envelope. Each number on the envelope will indicate how much cash you need to pop into that envelope so envelope number 1 means £1, number 2 is £2, with envelope marked 100 being £100.Įach week, you will pick two envelopes at random - give them a good shuffle so you don’t know which one you’re picking out. ![]() ![]() READ MORE: The 1p challenge backed by Martin Lewis will save you more than £600 before next Christmasīasically, you will need 100 envelopes numbered 1-100. The trend is yet another savings challenge that has hit TikTok to help motivate you to save money. The envelope challenge can help you save over £5k in less than a year. While people recover from the financial pinch over the festive period, many are looking for ways they can start saving money again. ![]()
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