The ‘Envelope Savings Challenge’ Turns Saving Money Into a Fun Game

06.01.2023 - 16:13 / glamour.com

, then break that up into smaller, more achievable amounts over the course of several days or weeks—but it comes at the perfect time.As grocery store prices continue to rise, a feels almost inevitable. A recent published by the Conference Board, a business-focused think tank, showed that 98% of CEOs expect one in the next year. A scary thought, but there are ways to minimize the effect it has on your finances.

To start, experts are suggesting people cut unnecessary expenses—what TikTok has dubbed —and focus on saving.As a result, several budget challenges and saving games have gone viral across all social media platforms. According to Pinterest, more Gen X and Millennials than ever are seeking out ways to “gamify their finances" in order to make saving more fun. Searches for “1000 savings challenge” and “100 envelope challenge” in particular have increased by 185% and 145% respectively on the platform.This content can also be viewed on the site it from.That's how Jasmine Taylor, also known as on TikTok, learned of the challenge.

“I found out about it through Pinterest," she says. “I created my own version and managed to complete the challenge twice the first year I attempted it.” Taylor has since accumulated over 600K followers on TikTok and operates a business that offers an online course as well as to help participants succeed.This content can also be viewed on the site it from.So, how does it work? It’s called a challenge, but the process is quite simple. First, you need to decide how much you want to save.