Financial trouble; today’s cashless purchasing options can lead you there. Gone are the days when people walked around with big wads of cash in their pocket. Things have changed so dramatically that now we often find ourselves with no cash at all.
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We have wallets full of reloadable coffee cards and credit cards and technology has now enabled us to make payments with our smartphones. The problem is that keeping track of our spending has become very difficult. If we are not on top of our spending and making sure that we are not spending more than we earn, financial trouble will find us.
In the good old days we paid for everything with cash. We knew exactly what we were spending and sticking to a budget was much easier. Impulse buying was virtually impossible. Shopping digitally or with plastic is somewhat unreal. And, it’s becoming easier and quicker. Paying with smartphones is becoming more and more prevalent and smartwatch payments will soon be readily available.
Even shopping with plastic has gone high tech; we no longer sign credit card receipts; we tap and we’re done. It really doesn’t feel like a financial transaction anymore. You see something that appeals and wave a smartphone at it or tap a credit card and it’s yours. We’re spending more on purchases that are virtual and we’re losing control of our spending – hence financial trouble.
I know it’s old fashioned, but try using cash for a while. Any time you make a purchase, take real money out of your pocket. You may find the impulse to buy is not quite so great. Credit cards and digital payments are convenient, but it’s very easy to lose control and you may find yourself in financial trouble.
If you’re now in financial trouble because you’ve lost control of your spending, you need professional help. Contact Ira Smith Trustee & Receiver Inc. as soon as possible. The earlier you deal with debt, the more options you’ll have. We approach every file with the attitude that your financial problems can be solved given immediate action and the right plan so that Starting Over, Starting Now you can take the first step towards a debt free life.
