This CRAZY Way To Budget Might Actually Work... | Cash Stuffing Explained

If you are struggling to save, this crazy way to budget might actually work. Cash stuffing
Right now on tiktok, it is very popular and many have attributed financial improvements to this budgeting method.

ENGAGE Josh Tan on a fee for full retirement planning NOW - Hear the IMPROVEMENTS you can make IMMEDIATELY!

Check this Personal Accident PA Plan with referral link for SOMPO PA EASE

I sold my HDB with OHMYHOME. If you want to consider selling home (Use My Referral link now to get RESULTS for your property sale today!) -

Seeking Alpha membership if you want research articles and tools (use my referral link now to get a SPECIAL discount!)

******

BUY SOMETHING YOU VALUE ✅ ✅ ✅ (All sales will be part of the $10,000/y JOSH TAN BURSARY to NTU for two deserving students or towards promoting financial literacy)

#1 ONLINE INVESTMENT COURSE AT JOSH TAN ACADEMY

Why you do NOT need to spend thousands on investment courses?
LEARN HOW to research into stocks and identify multi-baggers (at least in Josh Tan's way). Course price at $37 only. NEW BONUS MODULE ADDED and UNLIMITED re-access given with this new structure for future revision.

#2 PRIVATE MEMBERS channel

TIER #3 "LETS MAKE A DIFFERENCE " and TIER #2 "PRIVATE INVESTMENT VIDEO"
Will UNLOCK ALL VIDEOS especially those with VALUE/Momentum matrix on certain stocks!
TIER #1 Support our channel tier will unlock ONLY the cryptocurrency videos

#3 SUPER THANKS Stickers & Super Chat during LIVE SHOW

****
FOR INVESTING, 3 SUGGESTIONS FOR YOU
Referral code ASTUTEPARENT today with syfe and get $70 FREE (min $2k deposit and 1 trade to qualify)

TO LEARN MORE, 3 SUGGESTIONS FOR YOU

ENGAGE Josh Tan on a fee for full retirement planning NOW - Hear the IMPROVEMENTS you can make IMMEDIATELY!

****
0:00 Introduction

1:30 Therapeutic effect

2:54 More accountable

3:44 If I do cash stuffing

5:29 Mental accounting

6:05 Gamification

7:16 Ladies more successful

8:28 Scarcity mindset

#cash #cashstuffing #savingmoney #savemoney #budget

We do not make any recommendations on whether a security is a buy/sell as every investor has different investment goals and risk profiles. The presentation of ideas from Josh Tan and TheAstuteParent are strictly for education purposes. You are advised to perform independent research yourself or seek a qualified financial adviser. We will not be liable for any losses directly or indirectly from the material. Some of the referral links in the video summary are products and services personally used by Josh Tan and they may pay an affiliate commission or referral bonus.
It is not an endorsement of the product unless explicitly stated and we will not be liable for any losses. The content in this video and any promotions mentioned is accurate as of the posting date.

*******

About Josh Tan:
Josh holds a degree in Accounting from NTU. In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips.

As a ChFC Charterholder, Josh has agreed to be bounded by the ChFC®/S Code of Ethics. This includes, among others, acting in a professional manner when it comes to conducting due diligence on primary and secondary sources of investment-related data, and articulating his investment opinions based on his research and beliefs. Based on his research and analysis, he highlighted his beliefs and opinions, and illustrated the concept of time value of money, as of the time of the video.

ENGAGE Josh Tan on a fee for full retirement planning NOW - Hear the IMPROVEMENTS you can make IMMEDIATELY!

[a_rabbits_sharing]

They have this practice in Japan too !

[andreamdd]

This is exactly what my husband & I do. We budget very well this way. It's also known as "the envelope system".

[zorx-gx]

Where would you place insurance premiums under in the spreadsheet?

[renakwong]

That's comical Didn't realised there is a name for this.
..I started doing that since 2013. But I name it as "packet monies" because I put them in Ziploc bags with Labels. Is Useful & Helpful when doing this for Travelling too😊
Very effective

[AhWing]

I use this method with envelopes for years. But I don't really go into details.

[bgoh]

I've been recording all my spending since I started work back in 1995; I know where my money goes to. Almost every month I will review my spending. However, not everyone agreed with my habit. The pandemic has change my perspective in life and I'm retired (taking a long break) for more than 2 years now. Debt free, invested in SSB, T-Bills, Stocks, FD.
Cash stuffing is a good way to start financial planning or start using financial software to record all your expenditure. These data you collected can help you on your future financial planning like retirement.

[lilaclaicc]

How will the cash stuffing method work when quite a number of those expenses are now paid online? E.g. utility bills, phone bills, online spending etc. So the money the person withdraws out for this cash stuffing will have to be deposited back to the bank account later on anyway.

[tankhe]

I did cash stuffing as well on every Sunday. That's when whatever balance I had left after deducting all my expenses for that week and it goes straight into the envelope. :D

[goldbird]

i did not know i have been doing that for more than past 10 years. For me, i will draw my food expenses for the month say example $300 from ATM. I will put $50 into the wallet compartment where i can see. The rest $250, will slot into wallet compartment where i can't see it. You can't touch what you cannot see. Alas, food prices are getting crazy these days though.

[darrenkwok]

Biscuit tin or back of handphone cash or wallet partitions or under the shoe 😅

[stylerho]

I actually have a friend who has been writing down all his expenses for the past 30+ years.

[soulawaken]

This is interesting. i really think that there are cons to the convenience of contactless payment options like credit cards and debit cards nowadays. Its so much easier to go over budget when u could just tap and pay anytime anywhere. Cash stuffing might be a viable solution to control ur budget. Idk the psychology mechanism, but I assume it would help if we could feel the effects of going over the budget (e.g. wallet getting lighter and thinner?)

I might try it out on my food budget, since its the category i overspend the most on. 😅

[valuabletips]

The only time my parents do cash stuffing is to keep money notes with special numbers lol

[yingminlim]

Refreshing video. Cash stuffing has this visual/ senses effect which thus has a therapeutic effect, it helps certain types of peeps who like to feel, touch and see to derive satisfaction. To handle large sums of money using this method is not effective though. Thanks for the video, informative

[Zenus]

Hmmm, my grandmother method below her bed & pillow

[jironghuang]

Too tedious and seems to lean too much on scarcity mindset. I mark to market trading portfolio and manage delta neutral risk across strategies daily as therapy instead

[tdnow]

Good suggestion! Thanks
Just don’t show your cash stuffing on social media, just my 1 cent worth.

[fin]

Haters hate you because they are poor due to poor money management. Hence they give nonsensical comments or remarks.

Its not hard to save, but i have people telling me saving is a luxury. Thats when i know that nowadays there are more people with poor money management with all the excuses they keep giving.

Just keep doing what your doing, informative!