What is the 100-Envelope Challenge? A Fun Way to Save $5,050
Millions of TikTok users were captivated by the 100-envelope money-saving. There’s a good reason for that. Americans have a median savings account balance of $1,200, according to a Motley Fool survey. Aside from that, median savings balances dropped from $4,500, and average savings balances are down from $35,366. Nevertheless, people can save a whopping $5,050 just by participating in this challenge. A challenge like this could help you achieve any goal, from paying off debt to building an emergency fund to taking a vacation. Even better? The 100-envelope challenge is an easy way to save money...