Are people prone to spend more in cashless mode?The recent bank note crisis has curbed expenditure to some extent which is likely to result in some savings on the part of the individuals. However, in the case of those who were used to transact in cashless mode are not likely to be affected much. Further, the prevailing scenario has compelled many to switch over to the cashless transaction mode.
Is it true that people are prone to spend more in cashless mode? In case it is so, then instead of savings, the people are likely to splurge more and thus deplete their savings.
Do you tend to spend more while using cards for payment?