A recent report by Credit Karma found that there has been a rise in “cash stuffing” by Generation Z. The study surveyed more than 2,000 adults in the U.S. and found that 69 percent of Generation Z is using cash now versus just 12 months ago.
. It essentially is putting cash into envelopes that are labeled for a person’s monthly budget for categories including rent, groceries, gas, health insurance and more.
The psychological idea is that people will spend less when they have to use physical cash instead of swiping on credit cards. It has recently become a huge budgeting tactic for younger people trying to save more and economically expense out their lives. A third of young Americans said they use cash stuffing as a way to budget.? Alev said cash will not be going out of style fully.
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