“A very bad idea”: the credit card will heat up for Christmas, researchers recommend avoiding it

As we approach Christmaspayments, particularly by bank card, can accumulate, warn Australian researchers. According to a meta-analysis published in 2024 in the Journal of Retailing, paperless transactions result in higher expenses than cash payments.

CB at Christmas to avoid?

The researchers, who compiled 71 studies conducted in 17 countries with more than 11,000 participants, found that this effect is small, but significant, showing that each use of a card encourages consumers to accept slightly higher amounts or to add unnecessary purchases.

Lachlan Schomburgk, one of the authors of the study, explains: “When using cash, people physically count bills and coins and hand-deliver them, making the act of spending more concrete“. And you guessed it, this phenomenon is more intense during the holidays.

Economists call it “pain of paying“: a brake that limits spending when paying in cash. With the card, the latter almost completely disappears, which encourages you to spend without thinking too much.

Even if each small excess seems small, on all Christmas purchases, it can weigh on the budget. This phenomenon is seen everywhere, regardless of country or business. Rapid and repeated payments reinforce the trend.

To limit excesses, researchers recommend adopting a few simple strategies. First, you should visualize the budget, set limits for purchases and keep part of the expenses in cash, always to have a more concrete perception of money.

Schomburgk explains that “ seeing the bills decrease in the wallet creates an immediate signal that slows down impulsive purchases “.

During periods of holidaysbecoming aware of this dynamic can help you enjoy purchases without being surprised by the bank statement. The goal is not to ban the card, but to use it more consciously.

As a reminder, this year, the French plan to spend less for Christmas: €470 on average, including €117 for the meal and €282 for gifts. A budget still down compared to previous years.

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