The category of “pain of paying” has long taken root in behavioral economics, as it explains why people do not like to part with money when making large purchases. However, psychologists did not stop there and proposed a new category of “pleasure of paying,” which shows the exact opposite phenomenon: how people lose control over their purchasing behavior and end up in a situation of regular overspending.
Cashless payment and the problem of overspending
The study of the psychological mechanisms of shopping contributes both to the stimulation of demand and to the development of mechanisms to deter spending:
Sellers are interested in offering buyers a payment method that helps minimize the “pain of paying.”
At the other extreme are consumers with a shopping addiction who are interested in minimizing the “pleasure of paying,” which will allow them to break the vicious circle of unnecessary expenses.
Empirical studies have shown that mobile payment is particularly tempting to make purchases because the mobile phone is associated with pleasure. With this device, users all over the world can:
- Chat with friends;
- Play games;
- Take photos;
- Watch movies;
- Listen to music and more.
Therefore, buying via a mobile phone also causes positive feelings, neutralizing the psychological fuses that protect a person from excessive spending.
What to do if overspending exhausted your monthly budget
If you are affected by the pleasure of paying, you should not just ignore it. Because as a result, you can have a serious accumulation of debts. Two things need to be done, both long-term and short-term, to get out of this unfortunate situation:
You will have to part with the pleasure of paying with your mobile phone for a while and return to plastic bank cards and, even better, to cash. Parting with large banknotes is much more difficult than using a high-tech solution to pay from your mobile.
To make it to the next paycheck in case of overspending, you can use a payday loan. It will discipline you. To find a lender with the best conditions, use the services of the Payday Depot platform. Here, you will find many offers from lenders who are accustomed to saving consumers from the pleasure of paying with mobile.
How reverse evolution of payments works
To be successful in fighting unwanted spending, you need to detach the emotion of pleasure from making a purchase. This is done by neutralizing the emotional background or even suppressing it to achieve healthy financial habits:
Unlike a mobile, a bank card is not associated with numerous pleasures. It is strictly functional, so shopping with it is emotionally neutral.
Cash is an even better deterrent, as many people feel sorry for parting with large banknotes. Therefore, they will think twice before making any purchase.
If the problem of depleting the budget due to unnecessary purchases does not bother you, there is no point in abandoning mobile payments. It’s really very comfortable and trendy! However, if you feel like you’re buying more than you want or can use, consider whether it could be your lovely mobile that provokes you.
