The TikTok 100 envelope problem saves you £5000 in 100 days
That’s sorted the summer road trip
As a student, money is always tight, right? Well, it doesn’t have to be the case for your whole life, especially now. Lots of people use the New Year and new lockout as an excuse to throw their money away, and no more so than at TikTok, where people use the TikTok 100 Envelope Challenge to save over £ 5,000 in just 100 days. You heard that right, Her Majesty’s five thousand great British pounds in just over three months.
Do you think it’s impossible? Well, there is a method for this crazy character. But how does the TikTok 100 Envelope Challenge work? How much money do you need to start the TikTok 100 Envelope Challenge? If I don’t have a job, is the TikTok 100 Envelope Challenge okay? Today we’re going to show you exactly how the challenge works and answer all of the questions above.
@elliedouglasssThis is a “sign” of the 100 envelope-saving challenge for the new year, let’s do it! let’s original sound – ellie
How do I complete the TikTok 100 Envelope Challenge?
The interest rates are not worth looking into unless you actually have thousands of savings. As a result, people are turning to more inventive ways to save money, and the TikTok 100 Envelope Challenge is just that. Here’s a warning, this will take you a fair bit of money:
- First, buy 100 envelopes and label each one from one to 100.
- Get a box and put all of the envelopes in it.
- Every day you need to find an envelope and put the amount of money indicated in it.
- Put the envelope back in the box and repeat the process for 100 days.
- After 100 days there should be £ 5,050 in the box.
I’ll be honest with you – there are a couple of issues here. This challenge averages around £ 50 per day which is a lot. Then you think that everything must be in cash that no one has with them anymore. AND what if you select multiple envelopes in a row in the £ 90- £ 100 bracket? That would be an expensive couple of days.
So yeah, this could be a terrible way to save money, and I don’t know anyone who could afford it, especially teenagers on TikTok. This challenge essentially depends on someone having a very decent income to save that amount in 100 days – perhaps an achievable goal would be 50 envelopes.
I struggle to see how a normal person who pays rent, buys groceries, and makes less than £ 25,000 a year can reasonably afford to do so, but if you feel like you could try (and send me some rental money for it ) Month, i promise i will repay).
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