Consumer Research Paper Finds That Credit Cards Weaken Impulse Control, Lead to Increased Weight Gain
A research study determines that credit cards consumers buy more junk food with plastic than with cash. PaydayLoansOnline.net responds to these findings.
Jun 19, 2013, 08:30 ET
AKRON, Ohio, June 19, 2013 /PRNewswire/ --
A 2011 study published in the Journal of Consumer Research and written by economists Manoj Thomas, Kalpesh Kaushik Desai, and Satheeshkumar Seenivasan has evidence to show that shoppers paying with credit cards find it harder to resist indulgent purchases such as fast food or unhealthy treats. The study concludes that consumers are much more likely to buy junk food products when paying with credit cards as opposed to paying with cash and are therefore more likely to gain weight as a result.
The study attributes this to the fact that credit cards weaken the impulse control of consumers, making it more difficult for them to rationalize that something is not a necessary purchase. The three economists that authored the study compiled their research and tested their hypothesis by studying the contents of shopping baskets. Consequently, they found that shoppers using credit cards purchased a greater proportion of unhealthy food items, demonstrating that the ease of paying with plastic had an influence over the consumers' judgment regarding choices as well as total amount spent.
With credit card debt on the increase, consumer finance and short term loan comparison site PaydayLoansOnline.net encourages consumers to pay for food purchases with cash or debit card only, forcing them to be mindful of their wallets as well as their waistlines. Sam Milo, spokesperson for the site, responded to the study in the following statement that was released to the press:
"Credit cards are synonymous with a 'buy now, pay later' mentality. This intriguing study published in the Journal of Consumer Research suggests that this way of thinking also applies to the contents of the shopping trolley being paid for by plastic - the consequences of certain purchases are just not being thought through. We encourage consumers, especially those living on tight budgets, to use cash only when shopping for groceries and foods and to stick to a set shopping list. This will make it harder to splurge on expensive, bad junk food or not consider the necessity of certain additional items that are not on their list."
The site can help connect consumers to leading online lenders offering quick payment to facilitate cash-only purchases.
Learn more at: http://www.paydayloansonline.net/payday-loans/
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