How Credit Cards Hurt Your Finances
Credit cards have their advantages, but if you fall into one of the 4 mistakes I mention in this video, you should stop using yours and use debit cards or even cash instead.
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References:
Banker, S., Dunfield, D., Huang, A., & Prelec, D. (2021). Neural mechanisms of credit card spending. Scientific Reports, 11(1). https://doi.org/10.1038/s41598-021-83...
Liu, Y., & Dewitte, S. (2021). A replication study of the credit card effect on spending behavior and an extension to mobile payments. Journal of Retailing and Consumer Services, 60, 102472. https://doi.org/10.1016/j.jretconser....
Videos mentioned:
This Financial Mistake Costs You THOUSANDS OF PESOS Every Year: • Este Error Financiero Te Cuesta MILES DE P...
How to Use a Credit Card CORRECTLY (Complete Guide): • Cómo usar una tarjeta de crédito CORRECTAM...
Timestamps:
0:00 Stop Using Credit Cards
0:30 Discount on My Course
1:59 Reason No. 1
4:34 Reason No. 2
7:26 Reason No. 3
9:23 Reason No. 4
11:51 Is It Bad to Cancel Your Card?
#creditcards #personalfinance #financialeducation