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"I know that's really hard for a lot of people because of student loans, and the obvious debt that the average American racks up. But when you have no debts and your income is all yours ... it puts you in a completely different spot financially." For 35% of Americans, it's credit card debt, according to a January 2023 Bankrate survey. As of last year, 43.5 million Americans had federal student loans, according to the U.S. Department of Education. Take Jasmine Taylor, a 31-year-old who used a "cash stuffing" strategy to pay off $23,000 in student loans and $9,000 worth of medical and credit card debt in a year.
Persons: Rachel Cruze, Jasmine Taylor, Taylor Organizations: CNBC, U.S . Department of Education, NAR
"I just went into it hoping I would make my money back," Taylor told CNBC Make It in March. In 2022, her business, which now sells not only budgeting accessories but branded apparel, pulled in revenue of about $850,000. Capitalize on unmet demandWhen Taylor started posting her cash stuffing videos to TikTok, she wasn't looking to become famous or launch a business. "I instantly went on Shopify, built the website and started collecting emails," she says. "So when we launched, things went really well.
Entrepreneur turns 'cash stuffing' into $850,000 business
  + stars: | 2023-05-09 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEntrepreneur turns 'cash stuffing' into $850,000 businessHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Jasmine Taylor, "Baddies & Budgets" founder, joins the show to discuss her 'cash stuffing' business.
If you've heard of "cash stuffing," there's a good chance it's because of Jasmine Taylor. In the first year of cash stuffing, she paid down $23,000 in student loans and wiped out $9,000 worth of medical and credit card debt. How cash stuffing can change your mindset around moneyThe cash stuffing method isn't new. When she and her husband tried cash budgeting for a year, "we couldn't believe how much we did not spend. How to budget with cash stuffing
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow I turned this cash-only savings hack into an $850,000 businessAt 30 years old, Jasmine Taylor found herself with $60,000 worth of student loan debt and $9,000 in credit card and medial debt. Determined to get her finances back on track, she researched budgeting methods and found cash stuffing online. Two years later, cash stuffing has not only gotten Jasmine out of debt but also made her a very successful business owner. Baddies And Budgets brought in $850,000 in 2022 and is on track to hit $1 million in 2023.
"I found cash budgeting and I literally stuck to it," Taylor says. Posts of her managing her finances by stuffing cash into envelopes soon went viral. When Taylor began cash stuffing, she operated on a zero-based budget, which is the most common option among cash stuffers, she says. Jasmine Taylor uses cash stuffing to budget her income. Second, she realized there was a market for people like her who found cash stuffing attractive but found plain, old envelopes drab.
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