Watch the video above and talk about it with a group or mentor. Learn more
Going cashless has made purchasing a snap. It's also made overspending a snap.
Key Points:
- We live in a cashless society, and that means we don’t always “feel the pain of spending” as much when we buy online. There’s no physical transaction of handing over your hard-earned cash to a cashier.
- You can buy pretty much everything on your phone these days. Even dinner!
- Social media companies are developing new strategies all the time of how they can make shopping a simpler, quicker process.
- One-click purchases (Amazon Prime) can be a blessing and a curse as well. It’s easy to spend without thinking.
- Budget your cashless purchases and don’t overspend. Use budgeting tools to keep track if you must.
Quote This:
It isn’t what you earn but how spend it that fixes your class. -Sinclair Lewis
Talk About It
- What is your initial reaction to this topic? What jumped out at you?
- What are some “cashless” costs you regularly incur?
- Do you think it’s true that we don’t “feel the pain of spending” when we buy online or with a card rather than using cash? Why or why not?
- What can you do to remind yourself that “cashless” costs are real costs?
- What budgeting tools, if any, do you use or would you consider using to help manage your spending?
- Write a personal action step based on this conversation.
