How The Envelope Budgeting System Can Stop You from Overspending

1 min read

Did you know, that shoppers can spend up to 100% more when using their credit cards to pay instead of cash? In a study published by Drazen Prelec and Duncan Simester of MIT, they found out that shoppers were willing to pay up to 100% more when they were paying with a card. Overspending is easier as there’s no immediate penalty for using a credit card. Imagine that you went to a restaurant with your family with $100 in cash. You’d be careful with what you order so that you don’t run out of cash. If you can’t pay, you…...

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Kazi Mofrad Muntasir I am an MBA-educated Marketing & Strategic Insights professional with extensive experience in regular & digital marketing and business development, with a verifiable track record of achievements within the retail, and services sectors. I am a Medium top writer- writing on Personal Finance, Marketing Strategy, Growth Hacking, and Personal Branding.