LAS VEGAS (KLAS) – It’s a savings challenge trending on TikTok – The 100 Envelopes Savings Challenge.

8 News Now spoke with financial experts who said it’s not the most effective way to put away money. In the past thirty days the hashtag savings challenge has had 68 million views on TikTok, 3,000 posts, and 61% of the audience are Gen Z, aged 18-24.

Financial expert Alice Leetham of Moneyzine said more and more people of Gen Z are turning to TikTok for financial advice.

The 100 Envelopes Savings Challenge on TikTok asked users to label envelopes 1 through 100 with the intent to chronologically fill up each envelope with the dollar amount listed on it. By the end of 100 days, you will have saved, $5050.

“It’s not very achievable for most people and could put them off savings,” Leetham said.

Plus, Leetham said it’s not the wisest idea to have cash just lying around in envelopes. Experts said the best thing to do is put that money in the bank. Some savings accounts can earn up to 4% interest each year and will help your cash grow over time.

However, before you tackle any savings plan it’s important to pay off any high-interest or personal loan debt first. Also, build an emergency savings fund. For those who want to still tackle the envelope challenge but on a smaller budget; you can instead put cash in two envelopes each week -or as the financial experts advise make those deposits automatically into a savings account.