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I have experimented with it too, and you may as well, leave your credit cards at home, and only use 'Cash' ... you will think twice before paying for $100 consu
by ijafri 9y ago
I have experimented with it too, and you may as well, leave your credit cards at home, and only use 'Cash' ... you will think twice before paying for $100 consumer item ... whereas using Credit Card, you barely had noticed the price tag .... so bottom line is, Yes, paying through Cash can 'significantly' cut your expenses on 'extravagant spendings'.
- distances 9y agoMust be personal variance, as I'm not any more likely to spend with a card. I would guess it's the other way around for me -- cash is "spend money" to be used more freely, while using the card draws from the savings so the transaction carries some hesitation.
- wott 9y agoThat's even more true with small spendings: with cash, you easily see the amount stocked in your wallet decrease item after item, shop after shop, drink after drink; you also need to "refill" at the cash dispenser when it gets empty so that reminds you that you have already spent the XX or XXX € you had taken 2 days ago; you also may not be bothered to refill and opt for a lower priced item, or a lesser quantity of items, or do without the item. If you start paying small amounts with a card, it is too easy and also you don't keep track of your spending rate, you don't "feel" it, so you end up spending more. (After all, that's the point of it, shopkeepers wouldn't bother losing time and money to offer card payment if they got no benefit from it.)
- ijafri 9y agoYes that was the actual point, with CC you don't get the feel or pain of losing money ... When paying through cash you physically feel losing an amount of money. Humans.