Mel Abraham explains how credit cards eliminate the friction of handing over cash, making you spend more. Try paying with cash for a week and count each bill. You'll notice the difference immediately.
Are we still pretending that credit cards were made for our convenience? Not. See, they were made to remove the friction from our spending money. It doesn't feel bad when you're tapping or swiping a card as it does to count out the cash. And that's not an accident. That's by design. See, pay for a week in cash only, counting out every single bill, and I promise you'll spend differently. High-interest debt that's used to finance lifestyle, It's not a tool. It's a leash that you put on yourself. Before your next swipe or tap, ask if you'd still make the purchase if you had to count out the cash for it.
