Yes, Credit Cards Are Making You a Bad Person

The cashless society -- a world where physical money is practically obsolete -- has, in just a few years, gone from a utopian dream to something like an inevitability. In Sweden, a national effort is underway to take the country cashless within two decades. Throughout Africa, it's perfectly common for merchants to accept money through mobile phones by having buyers transfer a specific amount of money to a specific number associated with the merchant.

Lower-income people, consumers who are worse at math, people who self-report emotional instability, introversion, or materialism, have all been found to get into trouble with credit cards. Here are some more findings from the reams of credit card research -- and few of them are good.

Source: Yes, Credit Cards Are Making You a Bad Person - Derek Thompson - The Atlantic

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