How many times have you said this to yourself: “I swore I had $50 in my wallet before I left the house…” If this has happened to you before, then you are not alone. More of more US consumers are admitting to the fact that they cannot keep track of their expenditure. As a result up to $1000 is unaccounted for annually. This phenomenon is even more worrying in younger Americans whereby as much as $2500 is lost each year.

These findings were made public by Visa recently. Although an increasing number of consumers vowed to spend less, they still find it difficult to keep track of their cash flow especially when it comes to the hectic holiday season.

“Where did my money go?”
Industry experts say that consumers are likely to have lost track of their money during these occasions:

• 1 out of 3 people have difficulties keeping track of their cash during grocery shopping
• Approximately 1 out of 4 consumers said they do not know where their cash went during leisurely shopping sessions
• 31 percent admitted that they exercise less control on their cash during night outings with friends
• 26 percent ate outside and claim they do not place huge importance in controlling their finances when it comes to food

The solution at hand
So what can consumers do to help curb this worrying activity? Two words – Debit Card. A debit card can help consumers track their cash flow and eliminate the worry of losing money that is unaccounted for. Debit cards gives you a statement which you can access to see just how much you have spent, something that you cannot do with conventional cash.

Perhaps it is time you make the switch to a debit card instead of paying solely by cash. Debit cards also give you more security and enhanced peace of mind, knowing that you have not oeverspent especially when the new year is approaching.

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