(WHTM) — A side hustle has turned into a living for one woman. Her popular cash-stuffing videos on TikTok have turned into a lucrative full-time job. Her rise to fame could save you money.
Jasmine Taylor says that she understands the struggles of balancing a budget.
“I was just side-hustling and trying to make it from check to check. I wasn’t managing my money. I was struggling,” Taylor said.
Two years ago, Taylor found herself drowning in nearly $80,000 of debt. That was when Taylor says she learned about cash stuffing, which is a budgeting system that uses envelopes to divide cash into various spending categories.
To stay on track, she started to document her journey on TikTok.
“I went from swiping a credit card, and not really understanding where my money was going, to having to tangibly handle the cash, you can see when you’re running out. You can see when you’re saving, and it was life-changing for me,” Taylor said.
Over the last two years, Taylor has been able to pay off the majority of her debt, hoping to share with others what she had learned. Taylor even launched her own company with budgeting and supplies.
“So let’s say you’re paid $1,000 for this week. So from 1,000 to zero, you give every dollar a place. Once you’ve created the budget, you then go back, pull out your cash from the bank, and you stuff the allotted amounts into the envelopes,” Taylor said.
Last year, Taylor said the business pulled in over $800,000. This coming year, she is projecting up to $1 million in sales. Some experts say that cash stuffing can help you be more intentional about your money.
“Spending on a whim is so easy to do. Maybe it’s getting coffee while you’re out grabbing lunch and just spending while you go, and not actually being intentional with your spending you end up spending so much money that you don’t mean to. There’s something powerful about telling your money what to do, which again is a budget, and cash stuffing goes right along with it,” personal finance expert Rachel Cruze said.
There are digital alternatives that can help you budget. But, make sure you do your research before you sign up for anything.