Mum’s crafty envelope trick could help you save up to £5,000 a year with ease

A mum-of-three has shared a nifty money saving hack which will help you stash some cash by the end of 2021.

Michelle, from Australia, posted her easy savings method on TikTok – and she could save as much as £5,000 by Christmas.

You could do the same by following her handy technique!

Michelle labels 100 envelopes with a currency amount from $1 to $100 (just swap it to £1 and £100 in the UK).

Then, each week, you need to blindly pick two of the envelopes from the stack and fill them with the amount of money it says on the front.

So, if you pick the £5 envelope put a fiver in the envelope and if you pick £61 put £61 in that envelope.

Or, you can add the amounts to a jar and keep it all as a lump sum after choosing the envelopes (don’t throw them away though as you can use them next year).

By the end of the year you’ll have a hefty sum at your disposal – even if those higher number envelopes feel a little painful when you pick them.

In her viral TikTok video, mum Michelle said: "I'm a mum of three kids and money can get a bit tight, especially now school is going back.

"The point of the challenge is to put the money in the envelopes.

“I will be depositing the cash once we complete the challenge."

While Michelle does draw the envelopes randomly you can adjust what you pay slightly if you’re hit with unexpected bills or can’t save every week.

The mum said: "I don't do this every day.

“I change it to suit myself and my circumstances.

“I do it twice a week. Whatever my situation allows.”

Michelle crosses the amount she pays off of a DIY chart after she chooses the envelope, but you can also just put the already chosen envelopes into a folder.

The mum’s video has been viewed hundreds of thousands of times.

And, people are willing to give the hack a try to stash some money for 2022.

Who knows, maybe we’ll get to spend it on a holiday by then…

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