This edition of Stretching Your Dollar provides an in-depth look at "cash stuffing," which is the practice of putting money in envelopes to stay on budget and curb overspending. 

<div class="block">This edition of Stretching Your Dollar provides an in-depth look at &quot;cash stuffing,&quot; which is the practice of putting money in envelopes to stay on budget and curb overspending. </div>
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Stretching Your Dollar: What Is 'Cash Stuffing' and How Does it Work

Hello, everyone and welcome back to share news. I'm a, I'm a and now it's time for stretching your dollar and we're diving now into the world of cash stuffing. Have you heard about this? This is that age old budgeting technique that's now making waves again on social media and the personal uh finance space. This simple yet effective method of putting money in an envelope to stay on budget and curb your overspending might get you when you track uh your when it comes to your own personal finances. Take a look. It may be time to go green and cut the plastic. It's an old trend, but cash stuffing is making its way back again. Keeping up with the expenses these days is more than challenging. Swiping your credit and debit card is easy paying the balance later, isn't it as a way to set boundaries around your spending cash in a particular envelope. Cash stuffing is a way to stick to a budget by placing money in envelopes labeled for food entertainment and monthly bills. The goal to spend no more than what's allocated in each. It really works for some people. The cash stuffing strategy is helpful for those that are trying to avoid, try putting 50% of your income for needs 30% towards wants and 20% towards savings. Every time you get a paycheck, take enough out for each envelope. The goal is to make sure the envelope is never empty before the end of the month. You have problems bringing in your spending when you're using plastic. But same token, if cash burn, it may not be much of a solution. Of course, money in the bank. If you can swing, it will earn you interest and using your cards can help with cash back or points for travel, having cash laying around or in your pocket may also not feel safe for many having cash on hand may actually save you money at restaurants and other establishments which are now charging for you to use your credit card. I'm Janice Lieberman and that's the real deal. And thank you, Janice for that insight. Cash stuffing can really be helpful to stay on track and not overspend, especially with your credit cards. Yeah, it's interesting. I mean, obviously it's, it's an old idea, especially if you have tons of envelopes and tons of cash. I mean, if you're in my in laws and you literally just go to the bank and you're just like taking tons of cash out all the time, like you're the monopoly man. This makes a lot of sense. But I think for more modern audience like us who are maybe not using cash as much. What I do in particular, if at all, I mean, literally the only time I ever have cash is to pay my dog walker. Um, is I would basically, what I do is I have a separate savings account that I put everything in that all my, all that stuff gets drawn from that. So basically the same idea as cash stuffing if you're using it from an account instead of in an envelope to your point. I don't know many people, people who will use cash at all. Right. Exactly. Right. Exactly. And by the way, a recent go banking, uh, rights survey found 50% of Americans have been in credit card debt for 15 years. Now. The pew research shows about 40% of Americans never use cash for their regularly weekly purchases. I just, you know, never wanna have all of that in my pocket because it's dirty and all that other stuff. But that's another story. The argument is that using cash promotes mindful spending. When was the last time you used cash? Yeah. Literally my dog Walker is the only person I know that takes cash or maybe my housekeeper. But like that is you literally like the only time that I just spend though. Yeah. Exactly. Yes, I know. That's the thing. So this is what I'm saying. You could still do cash stuffing, but you used it in a different way. Maybe pull it from an account instead. All right, guys, we got a lot more coming up. Don't go anywhere.