Spurred by TikTok, some Americans return to cash to curb spending

The method is reminiscent of the age-old piggy bank system, and was popularised in its current form 20 years ago by financial guru Dave Ramsey, before the era of smartphones and contactless payments. — AFP

WASHINGTON: Manicured fingers meticulously place cash in transparent envelopes marked "food," "gas" and other categories, demonstrating in a TikTok video a retro technique for controlling what you spend that is newly popular with some money-conscious Americans.

Returning to cash to control spending may be old fashioned, but in an era of high inflation, a growing number of consumers find that it works.