Do you want to save $1,275, but don’t want to save it all at once? The 50 Envelope Savings Challenge helps you save money by dividing your goal into 50 small amounts, from $1 to $50. I’ve made a free printable that you can use to track how much you’ve saved. You can use real envelopes or just keep track on paper or your phone.
Start Saving Today: Download Your Free 50 Envelope Challenge Tracker!
Use my free 50-envelope savings challenge printable to keep track of your savings and see how close you are to your goal.
Print the tracker and cross out or color each amount as you save it. You don’t need to buy 50 envelopes. You can use envelopes you already have, put your savings into a bank account, or just use the printable as a simple checklist.
How Does the 50 Envelope Savings Challenge Work?
The rules are easy to follow:
Get 50 envelopes and number them from 1 to 50. Each envelope’s number is the amount of money you will put inside. For example, envelope 5 is for $5, and envelope 30 is for $30.
Each time you pick an envelope, put that amount of money inside and mark it off on your tracker.
You can pick envelopes in any order. Choose randomly, start with the small amounts, or save based on when you get paid.
When you finish all 50 envelopes, you will have saved $1,275.
How Much Money Can You Save With the 50 Envelope Challenge?
If you add up all the amounts from $1 to $50, you will have $1,275. That’s the total for the 50-envelope challenge.
As you fill more envelopes, your savings will grow. It doesn’t matter which order you fill them in.
You can save the amounts in any order, as long as you do each amount one time. For example, you could do the $10 envelope today and the $3 envelope next week. You’ll still get the same total at the end.
How Long Does the 50 Envelope Challenge Take?
How long it takes depends on how often you save and how many envelopes you fill each time. You can finish quickly or take your time.
You can also save on payday instead of following a strict schedule. If you can’t afford a big amount one week, just do a smaller envelope and come back to the bigger one later.
Can You Do the 50 Envelope Challenge on a Tight Budget?
Yes, you can change the challenge to fit your budget. If saving $1,275 is too much, you can use smaller amounts or set a lower goal.
You don’t have to use cash. You can transfer each amount to your savings account instead of using cash. For example, after you complete the $10 envelope, just move $10 into your bank and check it off on your tracker.
If you want to try a different way to save, check out the 52-week money challenge or learn how to save $1,000 in a month.
Start Saving With Your Free Printable
The 50 envelope savings challenge helps you save $1,275 by breaking your goal into 50 small steps. Download the free printable, choose a saving schedule that works for you, and mark off each amount as you save it. You can use cash or keep track digitally—whatever is easiest for you.
