Using cards leads to higher spending than cash

Using debit and credit cards can lead to overspending. Research shows that people who shop with cards spend about 30% more than those who pay with cash. The reason behind this may be that cards feel less like real money, making it easier to spend. If you're feeling out of control with your spending, consider a cash-only approach for 30 days. This means no checks or cards, except for necessary bills. By paying with cash, you might become more aware of your spending habits. Keeping a record of how you spend your cash can also help. Although it may feel challenging at first, many find that they think twice before spending when using cash. If you're worried about emergencies, you can keep a prepaid debit card in your wallet for backup. This way, you'll have some funds available without the temptation to overspend.