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I paid off $17,000 in credit card debt using TikTok’s ‘cash stuffing’ hack – how it works

A POPULAR TikTok trend helped a content creator pay off $17,000 in credit card debt.

The money saving method, which is popular on the app, has been around for years.


Paying cash can help people stick to a set budgetCredit: Getty Images

The TikToker, which goes through Lily W and runs the channel @lilyrnbudgetssaw the popular “cash stuffing” trend and decided to give it a try.

The 22-year-old had $17,000 in credit card debt and was struggling to pay it off. However, the budgeting method helped her repay the money she owed.

Now the content creator has amassed half a million followers showing others how she budgets.

“When I started working…I realized very quickly that I needed [a way to control my spending]. And I found money on YouTube,” she said. Yahoo News.

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Canadian TikTok user Kuburat also started “stocking up” in 2021 and saved thousands of dollars.

The 27-year-old leads the channel @itsmisssk.

Yahoo News reported that the extra money saved by Kuburat helped her start her own business where she sells budgeting materials and offers local budgeting coaching.

The “cash-stuffing” method of budgeting is not a new way to save money. It’s been around for years, often populated by finance experts like Dave Ramsey before social media came along.

“My grandma used to do this,” Elaine King, a certified financial planner based in Miami, Fla., told Yahoo News.

The concept of saving money is simple: people can budget their monthly expenses by putting money for each expense in an envelope.

After that, you take the money out of its designated envelope when needed.

Money experts say this method is better for budgeting since you set spending limits by only having a certain amount of money available for each expense.

It’s easy to go over budget when expenses are paid with digital currency like a debit or credit card.

Yahoo News reported that a 2001 study showed shoppers could spend up to 100% more when paying with a credit card instead of cash.

In 2018, more to research suggested that Americans agree to spend 83% more when using credit cards.

Yahoo News reported that credit cards should be used to limit overspending on fixed monthly expenses, such as a phone bill or car bill.

For those new to “cash stuffing,” King recommends following this rule.

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“Start with the 50/30/20 rule – 50% for your needs, 30% for your wants, and 20% for your financial goals,” King told Yahoo News.

“You can adjust your budget from month to month depending on your situation. If you go over budget, I recommend putting the extra money into your emergency fund or keeping it as a buffer in your account. banking.”