Saving: we all want it, but it is not always easy. “Cash Stuffing” is a newer savings method, but does it work that well?
“Cash Stuffing” as a savings method
It has been a trend on TikTok for a while: “Cash Stuffing”. This involves dividing your cash budget into certain envelopes of different categories, such as groceries, entertainment and vacations. When you receive your wages, you withdraw part of this money. You will of course have money left over for collections, but you will keep the rest in cash. Then when you go shopping, you use the cash. Is the money in the envelope (almost) gone? Then you know that you have spent too much on what the envelope was intended for. The aim of this savings method is for you to be more conscious with your money and to really stick to a certain budget.
Advantages
This method proved to be effective for many people on TikTok. These are some benefits of budgeting:
- Less easy to spend: You are more likely to get a debit card than you are to spend cash, so this also has consequences for the savings method.
- Creativity: There is something about “Cash Stuffing” that makes you want to save money, especially if you use envelopes or a folder that you can decorate beautifully. This motivates you to budget better.
- Motivational: For some of us, seeing a folder full of money can be motivating. As humans, we are visual, and seeing how many notes there are in one particular spot helps us to see this through. This way we work harder and can achieve our goals faster.
- Overview: Seeing all the money together helps us create an overview. You also know exactly how much money you spend on a certain category. This allows you to determine more quickly where you need to save.
- Wealth: When you hold some envelopes, a folder or the stack of cash in your hands, you feel like you can take on the world. You have the feeling that you actually have money in your hands, which makes you try even harder to maintain it.
Cons
- Small budget: especially in the beginning, it is difficult to estimate what the budget is needed and how much you need to put aside. If your budget is too small, you will constantly have to push your limits, which is demotivating because you get the feeling that you cannot stick to your budget.
- Unsafe: Many people do not like walking down the street with a lot of cash. That is not always convenient.
- Change: When you pay with notes, you can expect coins in return. That can also be a burden, because you then end the month with only coins. A piggy bank for these coins will work well to make the savings method come into its own.
