Cash stuffing trend reemerges

This Thanksgiving, millennials and Gen Zers are partaking in a different kind of stuffing — but there’s still “bread” involved.

Spurred by viral videos on TikTok, many are adopting the age-old budgeting regimen of cash stuffing. For these young adults, known for their fondness for cryptocurrency and technology, this is a throwback about as far away as you can get from digital currency and smartphone apps. There’s nothing “virtual” here: Cash stuffing entails putting real physical dollars into real paper envelopes. The envelopes are earmarked for various payments, such as rent, dining out and debts.

A survey of Gen Zers (ages 18-25) and millennials (ages 26-41) by personal finance site Credello found that 29% of those who used cash stuffing used it to save for larger purchases like travel. About 28% used it for everyday purchases or for necessities like rent and utilities. And 25% said they used it to help them pay off debts. Those who use cash stuffing said it’s a good way to save money for a larger financial goal and believed it helped curb overspending and prevent impulsive purchases. Financial planners also point out that cash stuffing is a good way to avoid further debt because you’re not using credit cards with sky-high interest rates to pay off your bills.

If there’s a downside, it’s the concern about keeping all that cash lying around. About a third of the young adults surveyed by Credello said they worried about someone stealing their money.