{"id":55763,"date":"2023-03-09T11:53:25","date_gmt":"2023-03-09T03:53:25","guid":{"rendered":"http:\/\/wordpress-my-161844363.ap-southeast-1.elb.amazonaws.com\/articles\/?p=55763"},"modified":"2023-03-09T11:53:25","modified_gmt":"2023-03-09T03:53:25","slug":"cash-stuffing-gen-z","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/cash-stuffing-gen-z","title":{"rendered":"Exploring The New Gen Z Money Saving Method &#8211; Cash Stuffing"},"content":{"rendered":"<p>C<span style=\"font-weight: 400;\">hances are you have seen the new saving method that is all the rage among Gen Z called <\/span><a href=\"https:\/\/www.paragonbank.co.uk\/blog\/what-is-cash-stuffing\"><span style=\"font-weight: 400;\">cash stuffing<\/span><\/a><span style=\"font-weight: 400;\">. According to TikTok users this the best way for anyone to save money. In fact, if you search up the hashtag <\/span><a href=\"https:\/\/www.tiktok.com\/tag\/cashstuffing?lang=en\"><span style=\"font-weight: 400;\">#cashstuffing<\/span><\/a><span style=\"font-weight: 400;\"> on Tiktok, you\u2019ll see just how popular it is, racking up more than 800 million views already.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But what is actually cash stuffing?<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How-does-cash-stuffing-work\"><\/span><b>How does cash stuffing work<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Cash stuffing involves withdrawing an amount of money from your bank account and dividing the money into categories that it will be spent on. So for example, you\u2019ll allocate a part of that money for categories like transportation, leisure, and others.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s an example of cash stuffing to help you visualise how it works. In this example, Ali is using the cash stuffing method to help plan his budget for the month after getting his pay.<\/span><\/p>\n\n<table id=\"tablepress-1843\" class=\"tablepress tablepress-id-1843\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th colspan=\"2\" class=\"column-1\">Ali\u2019s Monthly Paycheck (RM2500)<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\">Category<\/td><td class=\"column-2\">Amount<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">Transportation<\/td><td class=\"column-2\">RM500<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">Food<\/td><td class=\"column-2\">RM500<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\">Leisure<\/td><td class=\"column-2\">RM500<\/td>\n<\/tr>\n<tr class=\"row-6 even\">\n\t<td class=\"column-1\">Emergency<\/td><td class=\"column-2\">RM500<\/td>\n<\/tr>\n<tr class=\"row-7 odd\">\n\t<td class=\"column-1\">Savings<\/td><td class=\"column-2\">RM500<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-1843 from cache -->\n<p><span style=\"font-weight: 400;\">So as you can see in this example, Ali divided up his RM2500 salary into specific spending categories, and he has to make sure that he does not exceed the allocated amount for any of the categories.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And that\u2019s the basis of the cash stuffing method. Pretty simple right? The reason why they call it cash stuffing is because on TikTok, this method is done by stuffing their cash into labeled envelopes.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Benefits-of-cash-stuffing\"><\/span><b>Benefits of cash stuffing<\/b><b><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b>Easier to keep track<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Using cash allows you to properly see and visualise just how much cash you have, which makes it easier for you to keep track of your spendings, unlike digital payments.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Challenging and fun<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">One of the biggest obstacles of financial management is the stigma that most people believe that financial management is boring and meticulous work. However, with the\u00a0 cash stuffing method, you can start managing your expenses in a simple, challenging and fun manner, making financial management less of a chore.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Reduce debt<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When you use cash stuffing as your primary method of managing your finances, you also get to reduce debt as you are paying for everything with cash instead of your credit card.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Reduce compulsive spending<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When you set clear limits on your spending, you get a chance to reduce your compulsive spending, as you can only spend what you have in the envelope. If there\u2019s no more cash, you literally cannot buy anything more.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Disadvantages-of-cash-stuffing\"><\/span><b>Disadvantages of cash stuffing<\/b><b><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li aria-level=\"1\"><b>Risk of crime<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As you might know, there are risks associated with using cash, especially in large amounts as cash stuffing forces you to do. It can be more dangerous to keep large amounts of cash in your house, so you need to be very careful.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Lose out on credit card and debit card rewards<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Another disadvantage of using cash is that you\u2019ll lose out on all the rewards that you can get when shopping with your debit or credit card, such as loyalty points, cashback, selected merchant\u2019s discounts and others.<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Cash is inconvenient<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">And one more disadvantage of the cash stuffing method is that using cash for everything can be very inconvenient. Because of the fact that you\u2019re paying for everything using money from your envelopes, it can be a hassle because you will have to count how much money you have left after a few payments.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cash-stuffing-can-work-if-its-right-for-you\"><\/span><b>Cash stuffing can work, if it\u2019s right for you<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If all this sounds familiar, it\u2019s because cash stuffing is just the newest branding for the<\/span><a href=\"https:\/\/www.imoney.my\/articles\/how-effective-is-cash-envelopes#:~:text=The%20cash%20envelope%20or%20envelope,literally%20sorting%20it%20into%20envelopes.\"><span style=\"font-weight: 400;\"> envelope budgeting<\/span><\/a><span style=\"font-weight: 400;\"> method. This budgeting strategy has existed for a very long time, and is now being updated for the younger generation. Needless to say, there might be something to it if it has been around for this long.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So after considering all these factors, should you try cash stuffing? Well if you believe that it\u2019s right for you and the way you manage your money, then it\u2019s worth a shot. Our suggestion would be to try using it for a few months and see how you feel about it.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cash Stuffing is the newest saving method Gen Z is doing right now, but what is it? Let\u2019s have a look.<\/p>\n","protected":false},"author":51,"featured_media":55765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[257,1,218],"tags":[],"class_list":["post-55763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budgeting","category-investment","category-money-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is Cash Stuffing? Breaking Down This Gen Z Saving Method<\/title>\n<meta name=\"description\" content=\"For the past few months, Gen Z on TikTok has been raving about the new method to save money. But what exactly is cash stuffing? 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