Trying to watch your spending? Carry bigger bills!
It may seem counterproductive — why would anyone want to carry more cash if they’re trying not to spend money? — But it’s actually a proven money-saving tip. A study from the University of Maryland business school shows that people are more likely to think twice about buying something if they have to break a big bill …even $20s!
Don’t like to carry big bills around with you? Even smaller bills help you to spend less money than credit cards do. When you pay with cash, you can actually see and feel your stack of money depleting, whereas there’s more of a delay with credit cards (you just have to wait until you get that shocking bill in the mail).
Try it for one month: Keep credit cards at home and just carry cash with you. At the end of the month, compare your spending with previous months and see if it’s made any difference. The results just might surprise you!
