While digital payments have made shopping more convenient, they can also lead to losing track of one’s spending. Setting limits and reviewing recurring expenses are crucial to prevent financial imbalance.
The Rise of “Tarjetazo” and Its Financial Pitfalls
The term “tarjetazo,” referring to contactless payments using a smartphone or e-commerce platforms, has become a new financial trap. These digital payment methods make it easy to lose sight of how much one is spending, potentially leading to an imbalanced budget and difficulty making ends meet each month.
These small, frequent expenditures quickly escalate into what the National Commission for the Protection and Defense of Financial Services Users (Condusef) calls “mouse and vampire spending,” representing an average annual expenditure of between 16,000 and 18,000 Mexican pesos for Mexicans.
Both experts agree that the ease of online shopping, instant payments, and direct debit arrangements reduces the “stress” or friction associated with evaluating whether a purchase is necessary, excessive, or unnecessary.
5 Effective Strategies to Avoid Overusing Digital Payments
Not all “little pleasures” are bad. Paulina Prieto emphasizes that the issue arises when these small expenses prevent one from making ends meet.
- Self-awareness and thorough review: Reflect on whether your micro-expenses are truly necessary. Conduct a comprehensive review of your bank statements to identify recurring payments and assess their impact on your monthly budget.
- The power of writing: Writing down calculations not only makes them more accurate but also sensitizes your brain to your actions, facilitating financial discipline.
- Smart limits in your app: Paulina Prieto suggests using bank tools: “Setting untouchable amounts in the app or establishing a daily usage limit for your card are excellent initial steps.”
- Turn it off to avoid spending: If you cannot control your impulses, Joselyn Quintero advises creating forced restriction mechanisms. Turn off your card and only activate it when you plan to use it.
The neurofinance expert recommends not activating cards in e-wallets (Apple Pay, Google Wallet, etc.) to accustom oneself to limiting their use and reintroduce the “friction” of physically having to present the card.
Key Questions and Answers
- Q: Why are digital payments addictive? Digital payments can make it easy to lose track of one’s spending, leading to an imbalanced budget.
- Q: What is “mouse and vampire spending”? This term, coined by Condusef, refers to small, frequent expenditures that add up to an average annual cost of 16,000-18,000 Mexican pesos for Mexicans.
- Q: How can I avoid overusing digital payments? Set limits, review your bank statements, write down calculations, use app limitations, and consider turning off your cards when not in use.
