LANSING, Mich. (WLNS) – With sky-high inflation hurting many people’s wallets, some are turning to popular financial Tik Tokers for help.
These accounts focus on “cashstuffing” to stay on a budget.
Cashstuffing is taking your hard-earned cash and dividing it into different categories like bills, savings, even date night and “stuffing” the cash into different envelopes or binders.
“I swipe my card too much. You don’t really see how much money you’re spending until you want to see how much money I have in my account before I make this purchase,” said cashstuffer Stephanie Garcia.
She says it’s a strategy that really helps her stay on track with her budget.
Using the method, Stephanie has managed to not only keep her debt low. She has also saved over $10,000 for the future.
“I started using this method and it became to the point where I started even reducing my own debt by making extra payments on my credit card,” she said.
This back-to-cash movement is a new twist on what was formerly known as enveloping.
Stephanie says when she’s tempted to overspend, her stuffing keeps her in check
“Essentially every single time I get paid, I’m just setting aside money for my bills. That way, when it’s time to pay my bills, I just remove the money for it most envelopes and deposit it back to the bank,” she said.
Some experts say if you’re going to try cash stuffing, start slow.