Debit Versus Cash

The other day I found myself at the gas pump, topping off the tank of my economy car with $50, and wondering why there is not more outrage at the high cost of gasoline these days. Sure, people moan about it, but there is no real rage. And there are no long gas lines either, so it is not as if there is a shortage that is causing the high prices, similar to what I remember in my youth. Shortages, rationing, even days, odd days, and high prices. And rage, I remember how upset people were.

So, why is that not the case right now? My theory is that it does not seem real. See, I pay at the pump with my debit card. My reaction to such a transaction is much different than if I had to walk up to the booth and lay down $50. I think that because of the use of debit cards most of us are numb to the amount of money we are really putting into our tank. And I think this numbness applies in other areas, such as grocery shopping. I know that I would be a much different shopper if I only had cash in my hand and not a piece of plastic.

My commute is just long enough to be a burden most days, and at the rate that gasoline prices are increasing it will not be long before I will lose money by simply driving to work.