TikTok trend: young people manage their budget with cash

TikTok trend: young people manage their budget with cash

More and more videos with the hashtag #cashstuffing can be seen on TikTok. These videos now have more than 350 million views. They feature young people who have rediscovered a tried-and-true method of saving money and avoiding or paying off debts using a simple cash technique.

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The cost of living is rising worldwide. In the USA alone, consumer prices recently rose by 8.5% year-on-year. This is the biggest increase since 1981. Private wealth is becoming increasingly scarce, which is why many people are becoming more conscious of how they spend their money.
The American news channel CNBC spoke to London-based Yasmine Camilla. The thirty-something said that her energy bill doubled "almost overnight" and that filling up her car now costs 30-40% more than it used to. While she used to simply fill up her car when needed and pay with her card without thinking about the cost, she now makes her fuel fill-up dependent on her cash on hand to keep control of her spending.

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Yasmine Camilla, TikTok Creator with 94,000+ followers:
"I fill up depending on how much money I have. It's more planned that way and I have more control. I can decide to just invest the money elsewhere."

Yasmine recently told her followers that she keeps her cash in folders with categories, such as rent, groceries, savings, and reserves. Since she started the "cash-stuffing" system last September, she says she's much more aware of her payments and is able to limit spending better than before. She's even been able to save some money for the first time.

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Tania Brown, financial planner and coach at SaverLife:
"Before there were banks and ATMs, people paid with cash. They put their debts in envelopes and labeled them with the amount they needed to pay. It's a relatively old concept that has now been revived."

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Canadian Lisa of BeeBudgeting, with nearly 14,000 followers on TikTok, said gas costs have become a serious challenge. "Cash stuffing," however, has helped her tremendously in adjusting her spending to the increased costs.

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Some people are suffering greatly from the recent rise in food prices, while others have been hit hard by the increase in energy and fuel prices. Of course, financial problems are also often country- and person-specific, but what is clear is that cash is becoming increasingly important as a means of managing one's budget and avoiding new debt.

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