Returning to cash to control spending may be old fashioned, but in an era of high inflation, a growing number of consumers find that it works.
Judia Griner, 25, started"cash stuffing" two years ago when she was a student at Old Dominion University in Virginia. Now, her TikTok account has more than 200,000 followers.
"I would swipe my card, and I would just kind of cross my fingers and hope that it wouldn't be declined." Both women decided the way to turn around their spending behaviour was to rely on the technique of paying cash for everything. Despite being outdated and at times inconvenient – some businesses refuse to accept cash – the method has allowed Griner to save US$7,500 to finance her education."I could physically see myself spending all my cash and it just went away and that's what helped me curb my spending," she said.
"It's a problem that my generation kind of suffers from: consumerism and just overspending everything," Griner said.For Priya Malani, founder of Stash Wealth, a financial advisory service for young professionals, the economic downturn plays a role in the current success of the envelope system.
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