Envelope challenge that can help you save £5,000 in less than a year

As many of us are looking to financially recover from the festive period, more people will looking into different money saving tips and tricks.

The envelope challenge can help you to save more than £5,000 in less than a year by putting cash away in different envelopes each week. The challenge has gone viral on TikTok as people share their money saving techniques, reports the MEN.

Here's everything you need to know about the challenge, including how it works, how much you can save, and how long it takes.