Dan Ariely Quotes About Credit Cards

Quotes about: Credit Cards

• If you want to spend more money in restaurants, use credit cards more than cash. If you want to spend less, use cash more than credit cards. But in general, we can think about how to use the pain of paying and how much of it do we want. And I think we have like a range. Credit cards have very little pain of paying, debit cards have a little bit more because you feel like today, at least it is coming out of your checking account, and cash has much more.

  Dan Ariely

  Pain, Thinking, Cards

  "A conversation with Dan Ariely, Author of Predictably Irrational". bigthink.com.

• If you have loans, the first thing you want to do is say, "Okay, look I have a credit card, if I really need to borrow, I have this emergency money that I can get, but for now there is no reason for me to keep cash at zero percent interest rate and at the same time, pay all of this money out. So, I think people need to figure out quickly how to pay loans and how much cash they should really keep.

  Dan Ariely

  Zero, Thinking, People

  "A conversation with Dan Ariely, Author of Predictably Irrational". Big Think interview, bigthink.com.

• Imagine you owe on five credit cards, you owe five debts. So which debt should you pay first? And the answer is very simple: You should pay the one with the highest interest rate first. But that's not what people do.

  Dan Ariely

  Simple, People, Pay

  "Mental depletion complicates financial decisions for the poor". Interview with Kristen Doerer, www.pbs.org. January 19, 2016.

• We can think about how we reduce the pain in paying. So, for example, credit cards are wonderful mechanisms to reduce the pain of paying. If you go to a restaurant and you are paying cash, you would feel much worse than if you were paying with credit card. Why? You know the price, there's no surprise, but if you're paying cash, you feel a bit more guilt.

  Dan Ariely

  Pain, Thinking, Guilt

  "A conversation with Dan Ariely, Author of Predictably Irrational". Big Think Interview, bigthink.com. November 18, 2009.

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