Upgrade your banking experience with Discover. She compares cash stuffing to kids putting coins in a piggy bank: “You need to touch it and feel it.” With digital payments pulled from one big pool of funds, it's not immediately obvious when you're going over budget. King says paying with cash feels more tangible, compared to paying with your credit card, especially if you’re just tapping with your phone. If your bill ends up above $200, you will be forced to put some items back. You'll take that cash out of your "groceries" envelope and bring it with you to the store. Say you have $200 budgeted for groceries this week. “My grandma used to do it,” says Elaine King, a certified financial planner based in Miami, Florida. The budgeting method known as cash stuffing is simple: You take your paycheck in cash and divide it into envelopes based on your budget for different needs, including both spending and saving.Ĭash stuffing is by no means a new phenomenon - money icons like Dave Ramsey have long recommended the budgeting method, also known as the envelope system. With prices rising rapidly in those categories - and just about every other - here's how this old-school budgeting hack turned TikTok trend can help keep your costs under control. Influencers with immaculate acrylic nails count cash and file them into personalized cash binders, labeled with spending categories like groceries, rent and travel. You may have stumbled across this budgeting phenomenon on your FYP (For You Page, for the uninitiated) on TikTok, or on YouTube. Now she has amassed over half a million followers on TikTok who watch her do just that. And I found cash stuffing through YouTube,” she says. “When I started working … I realized very quickly, I needed. While Lily - who requested her last name be withheld to protect her privacy - was in nursing school, she didn’t have a full-time job and racked up plenty of credit card debt. Lily W., a 22-year-old nurse who goes by on TikTok, says she’s managed to pay off $17,000 in credit card debt since she started “cash stuffing” her income in 2019.
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