Day 19: Swipe It - WTVM.com-Columbus, GA News Weather & Sports

30 Days...30 Ways to Save

Day 19: Swipe It

By Zaneta Lowe  - bio | e-mail

COLUMBUS, GA (WTVM) -- You may want to think twice before you swipe. According to the American Institute of CPAs, the average American has racked up more than $4000 in credit card debt.

One easy way to get rid of yours, just stop charging. No, there's nothing scientific behind the suggestion, but research shows consumers who use their credit cards tend to spend more. In fact, officials with the National Foundation for Credit Counseling say people spend 20% less when they use cash or a debit card.

If you're thinking, I only use plastic for big purchases,the theory is true for even the smallest items.

One study reveals people who pay with plastic tend to spend about $10.00 more at the grocery store, and are much more likely to buy non-essential items.

So the next time you're tempted to say charge it, you're likely paying much more than it's worth!

 

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