photo credit: mangpages
With the economy in it’s sad shape, I’m definitely watching my money more closely. I love using my credit cards because they’re all tied to some sort of cash back or rewards program. But studies (like this one) show that people spend less when paying cash than using credit.
Maybe I should be more like my dad, who NEVER uses credit cards (unless he’s paying for gas at a gas station). Hmm, would I spend less ‘cuz it’s more painful to watch my money slip right out of my hands. Maybe I should carry $100 bills so I’ll be less likely to spend them due to the denomination effect. Wait a minute, but then once that large bill is broken, I may be more likely to spend on other unrelated purchases similar in spirit to the shopping momentum effect. Oh man, I’m just doomed to spend.
What do you use to help curb spending?
- cash (50%, 2 Votes)
- credit (50%, 2 Votes)
Total Voters: 4