There’s no debating cards are convenient, but a new study adds to existing research showing that using cashless payments can lead to more spending.
Research Shows This Money Habit Can Lead To Spending Less & Saving More $$$ These days when the world continues moving ever closer to a cashless society, it’s all about tap and go or swiping that debit or credit card. There’s no debating this is quick, easy, convenient, but a new study from the University of Adelaide adds to existing research that using cashless payments can lead to more spending.
While you’re reducing the use of cashless payments, Clemens offers a compromise, “Use prepaid debit cards for specific spending categories. Load a set amount on the card each month, which can mimic the effect of using cash, yet offers some of the conveniences of plastic.”Another alternative is to use gift cards. Who says gift cards are only for gifting? You can use them for everyday expenses, and because they come in specific amounts, they can help you stay on track with your budget.
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