It’s the time of year when people may be feeling they are maxed out on their credit cards. So is it time to go ‘cash only?’ Researchers at Virginia Tech’s Pamplin School of Business warn, there’s a subtle catch to using cash. It may lead you to splurge even more.
Many people believe paying with cash instead of credit cards can help your bottom line.
“ You know cash is more painful to spend with right, so you actually feel the money leaving your pocket and you feel the pain, the psychological pain of spending.”