The events of the last year are accelerating processes that were thought to take years to arrive: teleworking, the monopoly of online commerce, or card payments.
In the latter case, another factor has come together: banks are closing branches and ATMs everywhere, to the point of eliminating them in many locations.
Faced with the prospect of having to withdraw money at an ATM on the other side of the town, or having to queue because there is only one bank for 20,000 inhabitants, many people have opted for pay with card even everyday purchases like the loaf of bread or medicines in the pharmacy.
As our colleague Andrea Núñez-Torrón tells us at TICbeat, paying cash has some advantages. It’s more comfortable, you can pay a month in advance (which is the term that most cards usually advance), and you don’t have to go to withdraw money. At an economic level, fraud and illegal payments for drugs, weapons and others are reduced.
But at the same time, poses several major dangers. If physical money is not used banks gain more power because only they have the money, and they earn much more with the commissions to the shops. Besides the privacy of citizens is reducedbecause the banks know exactly what you spend your money on, when and where.
There is another additional problem: according to the Coordinates Institute of Governance and Applied Economics, paying with a card increases spending by 15%. It’s something we’ve all learned on our own, but now experts are quantifying it.
The problem with paying by card is that costs much less effort than paying cash. We don’t feel the pain What does it mean to take the bills out of your wallet, which has cost us so much effort to earn, and hand them over to someone else.
This system makes we place less value on the actual cost of a product, and in the end we end up spending more than we should, or what our salary allows us. Specifically, 15% more.
In addition, payment by card provides all kinds of facilities to postpone payments or divide them into comfortable installments… with abundant interest. Not only do we place less value on prices, but we we lose the fear of buying products out of our reach.
Economic experts recommend get back this pain for spending money. Try to pay in cash as much as possible, and do not use deferred payments with interest from the cardsespecially the dangerous cards revolving.