What do you think is the most uncontrolled and addictive way of spening money?
By gamesurfer
@gamesurfer (629)
India
July 8, 2009 5:10am CST
Hi my fellow Mylotters,
We all spend money through different ways,Credit cards, Debit cards,Cheques,Demand Drafts, Hot cash etc. But what according to you, Do you feel is the most uncontrollable and addictive way to spend cash?
Well if you ask me i would say spending cash by credit card is the most addictive! it does not feel like we are spending any real cash until the bill comes.
It feels like we are getting some free cash but in the end its us who has to bear the burden of paying the bill.It also makes us take very impulsive decisions when we have a credit card.Of course there are people who can use a credit card in a the best controlled way.But most of the people are victims of credit card spend thriftiness.
We all would have had an experience in bad spending.Do share your views on this intriguing subject friends.
7 responses
@thea09 (18305)
• Greece
8 Jul 09
Definitely credit cards and store cards are the way to debt, some people spend on them what they don't have which is the start of the slippery slope. I used to live in England where credit cards were widely used. I then moved to a cash society and couldn't believe the difference. You want a new car, draw the money out of the bank and pay cash, the same goes for everything. I prefer not to use credit but the other side of a cash society is I felt uneasy at first drawing out large amounts of cash and having to have it on my person but now I've got used to it. In England people were cautious to carry large amounts of cash in case it was stolen. In the area I live now there is very little crime and it is accepted to carry cash and pay with cash.
@thea09 (18305)
• Greece
9 Jul 09
Hi Gamesurfer, I live in an area of Greece which still has a very relaxed pace of living and using credit cards hasn't really caught on here but I am sure we are due many changes in the future, just hoping it stays as it is for a number of years yet but for now we live in a service society which does not really want to change yet but I'm sure the younger generation will adopt a differnt approach and be flashing their credit cards in the not too distant future.
@gamesurfer (629)
• India
9 Jul 09
So where is this place that you live in?? Is it in England or any other country?
Seems to be a nice place that actually lets you know what you are doing rather than let you know what you have done!!
@scheng1 (24650)
• Singapore
9 Jul 09
I think the worst must be gambling. Those folks who dare to gamble away a few thousands dollars in just an hour are really demon-possessed.
Sometimes they just so intended to win, that the money they gamble away doesn't seem like money. They see the money in the form of chips, and forget that these are real money, no monopoly game
@gamesurfer (629)
• India
9 Jul 09
chips in casinos!! another way to make people think that they are not actually dealing with hot cash!!
Really gives the feel that they are playing with some chips!
@prashanthalva (2272)
• India
8 Jul 09
Having A Credit Card is like having stolen Money ........ But once the due date nears you go into denial mode .......... Did I Really Spend That Much ............ LoL ..... This Credit card really makes you spend More Am using it from 2 years Must have blown up couple of thousand dollars ..............
@gamesurfer (629)
• India
8 Jul 09
Exactly !!
You stole my words.
Using a credit card you never feel that you are spending real money.
@cynthiann (18602)
• Jamaica
8 Jul 09
To me it would be my credit card too. I find it hard to manage on my salary and so tend to pay utilities by telphone using my credit card and somehow this just mounts up. I am not really an impulsive shopper and it is horrible to see all the finace charges etc. where I live it is 47% interst so it is not easy to use or to get clear. It seems that I am always throwing money on my CC but cannot seem to clear the debt. Our lectricity is very expensive. I do try however but often fail to live within my slender means
@gamesurfer (629)
• India
9 Jul 09
Well thats really sad to hear that the cost of living is so high at your place.
At mine its mostly due to impulse spending that people land into a lot of trouble!
@daliaj (5674)
• India
8 Jul 09
I think the most uncontrollable way of spending money is using debit cards (I say this because I don't have a credit card. It may be credit card also). I feel very careful about spenidng money when I spend in cash. I feel that I have lost money and I should be very careful about spending it. I am very very careful and get the feel of spending money when I write down a check.
@gamesurfer (629)
• India
8 Jul 09
Well,
You still have to try using a credit card then!
Believe me its a lot more troublesome than a debit card and trust me once you start using one you will never want to have it again!
So be the same old guy without a credit card.
@regnastorma (53)
• United States
8 Jul 09
Ya I hope to get a credit card soon just so I will stop being so frugal with my money... lol. Thank god you cant use credit cards to buy hookers in amsterdam...
