I expected this to be compared to cash payments but it’s compared to debit/credit card payment methods as well. I often feel like it’s easier to spend cash because it doesn’t feel like real money if I don’t see my bank account go down, lol.
In my nation, Apple pay and Google pay aren’t famous. The famous way to pay with a phone is using a qr code. It’s frictionless too. Paper bills are still famous here too. I think my spending behavior is the same whether I use paper bills, my phone or my debit card. Re using my phone or my debit card to pay, I <3 not having to deal with change.
And I <3 my purchases not being automatically tracked, so cash where possible)
Yes, paper bills if you’re so private. To avoid spyware, use a phone that has a removable 🔋, like the Fairphone 5. Connect the 🔋 only when you must use the phone.
It is VERY weird that you replace words with emojis. Looks like a book for toddlers who are learning to read. Why? Are you trying to bypass some odd word filter?
Overall, I just don’t carry a phone most of the time. Fairphone 5 is not quite a realistic option for most because it is very expensive.
so does credit cards.
im somewhat glad my banking apps are annoying on my rooted phone though.
I keep track of what I spent.
Doesnt matter if Cash or card.
This is the real answer. Ideally you keep track of most of the things you spend money. That way you can see how much you are spending on each category.
Maybe you eat out less to save for something you really want, like a jacket or pair of shoes. Or you stop reflexively saving and go on vacation.
You’re ignoring the psychological effect of seeing the wealth transfer with something like cash as opposed to plastic (or digital).
You aren’t immune to those reactions, just like people can still be impacted by a placebo even if they know it’s one.
Now if you’re rich enough to not care, thats awesome, but he effect still remains.
I get your point and that maybe there is a bias.
But in years of tracking my spendings (mostly with my smartphone) I have pretty constant spendings for my day to day live (rise of cost of living etc. in mind).
I would describe me not as rich -not even close.
Tracking budgets for example food / clothes per month helps me staying in a certain range.
Do you have any data from a period where you paid cash for most things you could? Gas, groceries, etc.
Would be interesting to see the comparison.
Unfortunately not.
My records over 4 years are heavily mixed with predominantly card payments.
Perhaps the continuous use of card payments has an influence?
Using your debit card to pay is convenient, but it can also mean you spend more is, I believe, a sentiment that was passed around when cards started being widely accepted.
