Scan, Swipe or Tap: The Dark Side of Digital Money on your Spending

Scan, Swipe or Tap The Dark Side of Digital Money on your Spending Habits Himanshu Panwar 20 October, 2024

Easier Spending, No Thought No cash make it pretty easy to spend and often lead to unconscious overspending because no actual money exchanges.

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An impulsive buy is made easier with just a tap; nature makes digital the mode of payment itself.

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Digital money can complicate budgeting. Without tangible cash, it’s harder to track spending, leading to potential budget overruns.

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This makes parting with money less psychologically "painful," allowing one to rationalize or justify unnecessary purchases more easily.

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It's those subscription auto-payments that really get ya. With digital money, it's just too easy to forget about ongoing charges.

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With credit, digital payments especially can lead one into a debt trap. The ease of credit generally results in overspending.

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Digital payments data support targeted ads. Customized marketing takes over to push you to pay more still.

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Digital money makes people lose the art of saving and shopping wisely; it may cause lousy spending habits.

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Watch out for hidden fees during e-commerce mega sales. Discounts may seem big, but extra charges can add up fast!

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