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Having recently received private financial advisory, my advisor recommended that I do exactly this: Withdraw cash weekly, use only that cash to pay for food.
by sshine 7y ago
Having recently received private financial advisory, my advisor recommended that I do exactly this:
Withdraw cash weekly, use only that cash to pay for food.
Supposedly, it will make you more aware of how your spending affects your balance.
Swiping a card "feels free".
- lostlogin 7y ago> Swiping a card "feels free" Could this relate to age or how one grew up? It doesn’t seem like one abstraction is really all that different from the other.
- newnewpdro 7y agoCash is physical, it's tangible, exists in your hand/wallet, occupies space, carries weight in the real world. It's experientially very different to spend, and for me at least, carries substantially greater negative feedback as my wad diminishes in transactions. Then having to replenish my stash, visiting an ATM or asking for cash back, carries a distinct bite. Those things are largely absent when using cards or other electronic payments like phones. Though you can structure electronic payments such that it at least draws on a very small account requiring explicit replenishing of some inconvenience, to retain some of the bite as weekly or monthly funds become exhausted.