As the end of the year approaches, many of us think a bit.
We think about all the things we’ve learned and done this year – and all the things we could have done differently.
For many of us, the New Year is a great time to make changes that will benefit us in the long run, such as putting in place a system that saves us money throughout life. ‘year.
Read more:Aldi shares his top tips for avoiding Christmas food waste – and saving money at the same time
Known as the “100 Envelope Challenge”, this simple hack saves you over Â£ 5,000 a year – and it’s easy to do, provided you have the funds to save (but maybe n don’t you usually have the motivation to save money!).
The money-saving hack is simple and will help you save money every week – but for it to work you need to be strict with yourself and make sure you don’t dip into your saved funds. For whatever reason.
How it works?
All you need for the 100 Envelope Challenge is 100 envelopes and a pen!
Just label each envelope from 1 to 100 and shuffle them in random order and put them in a stack.
Each week throughout 2022, take the first two envelopes from your stack and fill them with the amount that is listed on the envelope. Then place them on the back of the stack or in a new stack.
You may want to do both wraps on the same day or two different days of the week. It doesn’t matter – but it’s important that you do two wraps per week every week, if you want to hit Â£ 5,000 + by the end of the year.
For example, the first week of January you can pick up envelopes 10 and 33. So you will put Â£ 10 in envelope 10 and 33 in envelope 33 (or in a sealed piggy bank, if you prefer).
The following week you collect the next two envelopes, say 5 and 99. That week you save Â£ 5 and Â£ 99.
Fill two envelopes per week, every week for 50 weeks and you will have filled all 100 envelopes and saved Â£ 5,050 by next Christmas!
Do you have a handy tip for saving money? Let us know in the comments:
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