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From Startup To Success: Millennial's 'Cash Stuffing' Venture Blows Up On TikTok

Published 16/08/2023, 17:49
© Reuters.  From Startup To Success: Millennial's 'Cash Stuffing' Venture Blows Up On TikTok

Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer. In 2021, Jasmine Taylor started documenting her experience with "cash-stuffing," a money management technique where individuals divide their cash into physical envelopes.

Her journey quickly gained attention on TikTok.

With just a $1,200 stimulus check, Taylor launched Baddies and Budgets. The Amarillo, Texas resident also invested in a Shopify account, shipping essentials, a Cricut machine, and materials to craft personalized cash-stuffing items like custom envelopes and cash wallets.

By 2022, her venture had expanded its offerings to include budgeting accessories and branded apparel, generating an impressive revenue of approximately $850,000, according to CNBC.

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When Taylor started on TikTok, "it was mostly kids dancing," she told the outlet. But her financial content "went crazy viral" and, as of March, it's poised to exceed the $1 million mark in earnings for 2023.

"I tried a few different businesses, and some of them failed," she said. A clothing boutique, for example, unfortunately closed its doors within a year.

"Toward the end of my 20s, I was really struggling," Taylor added. But the knowledge she acquired from those trial runs has been precious.

"I learned a lot about how to sell things, about shipping, building a website. Even though it ended up being a failing business, it taught me so many things that were foundational and important that I was able to build on with Baddies and Budgets," she added.

Baddies and Budgets now has three contract employees to manage the increasing order volume. Furthermore, it's anticipated that her business's growth trajectory will persist.

"Entrepreneurship has been one of the most challenging but rewarding things I've ever done in my life," she said. "And it's taught me so much. But if you're not a self-starter, it is not for you."

This story is part of a new series of features on the subject of success, Benzinga Inspire.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock

© 2023 Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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