#STRUGGLE WITH CASH ENVELOPE SYSTEM PLUS#

In addition to cashing paychecks or withdrawing direct deposit checks, stuffers need to make deposits in the amount of upcoming online bills and when they’ve reached a threshold of “too much cash on hand.” Obviously, the cash stuffing method means visiting the bank a lot. Basically, you “cash” out every paycheck and “stuff” it into envelopes that represent both spending and savings categories: groceries, rent, car payment, emergency fund, etc. “Cash stuffing is a budgeting system where you use physical cash to budget monthly,” says financial advisor Erica Mathews.

#STRUGGLE WITH CASH ENVELOPE SYSTEM PLUS#

People who are barely scraping by and living paycheck to paycheck might also be intrigued by the promise of always having cash on hand and even being able to save.īut should you personally start a cash stuffing system, or stick with more digital methods of money management? Today, I’m walking you through everything you need to know to make a decision, plus sharing insights from experts along the way.

This is especially true for people who feel like they’re clueless when it comes to money, and find the hands-on nature more understandable. Many of them feature pink pastel themes, a woman with awesome nails, gorgeous binders or envelopes, and HUGE stacks of cash.įor people who are new to budgeting, or maybe haven’t even started yet, the cash stuffing system is attractive and exciting. Have you heard of cash stuffing? The #CashStuffing trend is crushing it on social media sites like TikTok and Youtube, where content has been viewed hundreds of millions of times.

Struggle with cash envelope system