The popular Tiktok challenge claims you can save millions in a few months. But does it really work?
100 adverbs challengeHe says 100 adverbs challenge The so-called challenge has gone viral on TikTok, through which you can save up to $5,050, an amount equivalent to about 1.7 million Hungarian forints, in less than four months.
The essence of the method is that we number 100 envelopes, then on the first day we put $1 (340 forints) in the number 1, on the second day we put $2 (680 forints) in the number 2, and on the third day we put $3 (340 forints) in the number 3.1020. Fortnite), and then we continue like this until the 100th day. Of course, these amounts can be changed, and they can be adjusted up or down according to our financial capabilities.
This is how to start!
The goal is to “push” some amount into the envelope every day, thus encouraging ourselves not to spend the specified amount on something that is not absolutely necessary. You can put money into the envelopes in chronological order, but you can also proceed randomly, multiplying the base amount by the serial number of the given envelope.
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“Like other popular ways to save money, it adds a sense of fun and playfulness to what you should be doing anyway.” It is to explain Jack Howard Financial Specialist A HuffPostto.
“Methods like the 100 Envelope Challenge can help because they turn saving into a game and have a clear path and goal to follow, reducing the mental burden of planning and focus.” he added Andrea Woroch Budget expert.
This method of saving can be particularly useful for “visual types,” who find it easier to spend money from a bank card, but find it more difficult to use visible, tangible cash.
“Knowing that you have to reach your goal can prevent you from spending on things you don't really need and bought out of habit.” Howard noted.
Experts note, of course, that it is not realistic for everyone to start with $1, but even if the basis is a smaller amount, the end result will still be savings.
At the same time, withdrawing cash involves costs, which reduces the money saved, which is why Howard believes it would be useful to digitize the challenge and transfer the daily amount into a savings account.
