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The brain emits a pain response when spending physical currency, something very useful for controlling spending.
by danschumann 7y ago
The brain emits a pain response when spending physical currency, something very useful for controlling spending.
- OGWhales 7y agoI’ve never heard this, but that rings so true. I don’t even notice with a card but it’s very obvious with cash.
- mandelbrotwurst 7y agoYeah, the difference is that when you pay with a card, you get the card back, so you feel as though nothing has been lost.
- dannyw 7y agoWe should have credit cards that shock you when you pay.
- davchana 7y agoTrue, I spent a lot less on leisure eating when I switched over to Cash only for few months. The pain of actual cash notes going out from your wallet makes you rethink many of the purchases.
- sokoloff 7y agoWe teach our kids to save and manage money with physical currency and make them hand it over to buy their toy or candy or whatever for exactly this reason. Sometimes we’re out and they’ve not brought money with them, so we get clear agreement for them to pay us as soon as we get home. That results in much more anguish and tears (at home) than the former case, I guess because they’re now giving over cash for “nothing” (that they don’t already have). It’s fascinating to watch.
- jon889 7y agoI don’t know about this, on the rare occasion I have cash when I spend it feels like I’m getting the item for free. However every time I get a monzo notification saying how much I just spent and how much money I have left for this month, I wince a little. I think it’s just what you’re used to
- danschumann 7y agoWell try this then, force yourself to only use cash for a while and see what happens to your spending