A recent study suggests that the frictionless ease of app-based payments makes it harder for consumers to grasp their disposable income and spending levels. The study highlights how parting with physical cash creates a psychological impact that transforms the spending experience into one of loss, heightening awareness of financial limits.
Jashim Khan, the lead researcher, emphasizes that transactions using cash elicit emotional responses like 'sadness' and 'guilt,' which are often absent when making purchases digitally. This emotional disconnect can lead to a lack of understanding about one’s finances, as individuals may not register the spending as deeply as they would if they had to physically relinquish cash.
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