Interested in cash-stuffing? Here's how to do it
Are you looking for a way to take control of your budget?
According to a viral hashtag with more than 1.3 billion views on TikTok, you can accomplish both -- and all you need is some old-fashioned cash and a set of envelopes.
For example, Therese Tormey has been sharing her journey online using only cash for her expenses, cutting down on her credit card debt.
This technology-free way to budget and plan out your finances, called "cash-stuffing," is similar to the "developing" method.
How to cash-stuff
You can start by dividing up your set of envelopes into categories and labeling them -- "holiday shopping," "bills" or "utilities," for example.
From there, you then divide up your hard-earned cash into the respective category or envelope it will be allotted to.
"I swiped my card way too much," TikTok cash-stuffer Tormey told "Good Morning America."
Tips to consider before getting started with cash-stuffing
- If you want to set aside just one envelope for gas or other essentials, it can help you get started.
- Leave your car at home when you go shopping.
- Seeing your cash physically disappear as you put it into an envelope can help reinforce mindful spending.
- Track your spending by week instead of by month.
- Disable the autofill feature online to make shopping a little less convenient.
- Use a credit card with a low limit to help ensure you're paying it off on time.
If cash-stuffing sounds like something that could work for your financial planning, we rounded up five different products to help you get started.
Keep scrolling to start stuffing.
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