Big bills help you save
The Germans are known to love their cash and most of them have at least a 5 euro note in their wallets so they can buy a little something at any time. But it is precisely this circumstance that ensures that one unconsciously spends more money than one might ultimately want to. This fact is psychological, because breaking a small bill hurts far less than having to pay for a pack of chewing gum with a 100 euro bill. And that’s the best trick to save money in the long run. Anyone who always carries large bills with a nominal value of 50 euros or 100 euros or more and does not withdraw smaller bills from ATMs will generally spend less money.
The Pain of Paying
It’s as simple as it sounds. Many people think twice before opening a large, “special” note, while they are more willing to pay smaller amounts for a note with a lower value, comments psychologist Dr. Mary Gresham to CNBC. That’s why you can save more money with big bills. In addition, the brain evaluates a payment differently with a small note, a larger one or with a debit or credit card. A cashless payment method is the easiest for most people and tends to encourage imprudent impulse purchases, while paying with cash can increase the feeling of losing money and lead to inhibitions. So if you withdraw large bills more often, you can end up saving a lot of money with this small but effective trick.
Editorial office finanzen.net
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