Exploring the psychological impact of physical cash versus digital payments on spending behaviors, with insights into how the tangibility of money affects budgeting. Contrasting experiences in different countries like China and the UK, the debate between the convenience of digital transactions and the potential for cash to restrain impulse buying is examined.
If you're living in China, you know how ubiquitous mobile payments have become, rendering the physical wallet nearly obsolete! Today, let's go retro and think about the question: Can using cash help you save more? Is relying on good old-fashioned cash truly the secret to building up your savings? On the show: Heyang, Xingyu & Josh Cotterill