Obglatory not OP, but… When I was younger and pretty broke I preferred paying cash. It was very easy to keep track of my spending rate and there was no risk of getting declined.
Interestingly I read somewhere (from a Behavioral Economics book, I think) that people who pay in cash in average spend less than people who pay by card.
Paying cash involves literally giving out something physical which you own, whilst paying by card is just a number in a screen that you say yes to, and it’s theorized that the actually parting with something physical like cash makes people more wary of spending because of the higher unpleasent feeling of losing something.
Certainly looking at myself, actually counting and giving away €100 in notes does feel more unpleasant that merelly saying yes to a screen showing the number 100.
All this to say that for poor people it actually makes even more sense to pay in cash.
I have to wonder what kind of child hears someone say that they pay in cash rather than use a card and assume that they’re rich.
I have to imagine you are so fiscally deficient that the 2% or so card transaction fee doesn’t even register to you. Did you know that especially some Mom and Pop shops will charge less when using cash for that very reason? Gas stations even advertise cash rates for gas.
you have never been poor, have you?
Obglatory not OP, but… When I was younger and pretty broke I preferred paying cash. It was very easy to keep track of my spending rate and there was no risk of getting declined.
Interestingly I read somewhere (from a Behavioral Economics book, I think) that people who pay in cash in average spend less than people who pay by card.
Paying cash involves literally giving out something physical which you own, whilst paying by card is just a number in a screen that you say yes to, and it’s theorized that the actually parting with something physical like cash makes people more wary of spending because of the higher unpleasent feeling of losing something.
Certainly looking at myself, actually counting and giving away €100 in notes does feel more unpleasant that merelly saying yes to a screen showing the number 100.
All this to say that for poor people it actually makes even more sense to pay in cash.
I have to wonder what kind of child hears someone say that they pay in cash rather than use a card and assume that they’re rich.
I have to imagine you are so fiscally deficient that the 2% or so card transaction fee doesn’t even register to you. Did you know that especially some Mom and Pop shops will charge less when using cash for that very reason? Gas stations even advertise cash rates for gas.
Ignorance and arrogance are a horrible combo.
I’ve never seen a shop have different prices for different payment methods in my life.
Is that an America thing?