Is the '100 envelope challenge' a smart money move? | CNN Business

It’s called the “100 Envelope Challenge” on TikTok, and it promises to put more than $5,000 in your pocket in just 100 days. Billed by influencers as a fun, easy way to save money, it’s geared toward young investors facing higher rent and grocery bills, student loan debt, and a general feeling of never being able to make the money last the month. It works like this: Label 100 envelopes from one to 100. Since this is social media, after all, said envelopes should look really cool for the videos.

That’s a good thing,” he told me. “But it’s gimmicky,” he said. “It’s laudable to try to put some money away, but it doesn’t feel very goal oriented to me. What are you saving this money for?” He notes the envelope idea is actually an old-school financial planning tool — one envelope for vacation savings, one for the car payment, one for dining out, etc. But the envelopes today are more metaphorical in an era of instant account access and budgeting software.

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You know your corporation is in the pocket of Wall Street when it questions the usefulness of saving money. NO spend spend spend!! Borrow borrow borrow!

Inflation and devaluation at the gate!!!! Venezuelan dictator maduro also incetvete saving of cromblig Bolivar

The last 10 days of this would kinda suck. You put away 90 bucks only to have to come up with 92 the very next day, and 93 the day after that. You have to save like 600 dollars in the last week alone.

It always worked before credit cards.

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My Grammy Ann would be so proud

If americans need a tiktok video to think about saving some money instead of spending it, that explains a lot

This is like the atkinsons of dave ramsey of stuffing your savings in a mattress of savings plans. Set your interest-bearing savings account to monthly or weekly auto-withdraw whatever amount you like from your checking. Done. You're welcome.

This communist news network propaganda sponsored by pfizer. Bring back Glenn beck and others with different points of view.

Y'all late. Black people been sending that process around on the internet for years lol

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