I Made One Simple Financial Change and It Lowered My Spending

A few years ago, when I was reporting a story on personal finance, I became fascinated by a concept that behavioral economists call the “pain of paying.” The phrase refers to the psychological discomfort experienced when parting with one’s money, and it varies by medium: At one extreme would be painstakingly counting out each penny at the register (a high pain of paying, because of how tactile the transaction is), and near the other would be credit cards (which, by postponing payment and offering rewards programs, ease the agony of depleting funds). ….[READ]

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