When it comes to healing, there are generally two types of approaches: Embracing a long-term solution even if it is slow, or doing anything to avoid pain even if the relief is only temporary. The first approach is known as the ‘vitamin’. The second is the ‘aspirin’. While nobody is advocating masochism, and avoiding pain is a natural instinct, I’d like you to consider the cost of adopting the aspirin approach over the vitamin approach with regards to your health. Read More…
Psychology: Debit or credit? Make it cash, please, if you want to eat healthier. According to a new study published in the Journal of Consumer Research, people are more likely to buy unhealthy foods when they pay using credit or debit cards than when they use cash. The study authors say two factors contribute to this effect: First, unhealthy food items tend to elicit impulsive responses; second cash payments are psychologically more painful than card payments, which can curb the impulsive response to buy unhealthy foods. Since people find if more “painful” to pay in cash, they make better (healthier) choices and limit their impulsive (unhealthy) choices. The researchers suggest that there may be a connection between obesity rates and modes of payment: It may not be a coincidence that 34% of US adults are obese and nearly 40% of all purchases are paid with credit/debit cards. Given that so many consumers struggle so much to make healthy choices, understanding that using plastic increases their vice purchases and that using cash helps them think and pick the good stuff may help people improve their buying habits and overall well-being. Read More…
