December 14, 2025
The Boston Globe recently published an article featuring Jay Zagorsky, Clinical Associate Professor of Markets, Public Policy, and Law, discussing why some consumers are returning to cash as a way to rein in spending in an increasingly digital economy.
As tap-to-pay, credit cards, and buy-now-pay-later options make spending nearly effortless, the article profiles people who withdraw a fixed amount of cash each pay period and use it as a tangible, visual budget. Many say physically handing over cash makes purchases feel more “real” and encourages greater restraint. Experts note that cash introduces a “forced budget constraint” and heightens the psychological “pain of paying,” helping curb impulse buying in ways digital payments often do not. While cash use has declined overall, older adults still rely on it more heavily, and younger generations are reviving cash-based budgeting through trends like “cash stuffing.”
Zagorsky illustrates the difference with a simple moment at the store: “There’s been a number of times I’ve looked at a bottle and gone, ‘Oh, I’d love to try that for dinner tonight,’ and then I look down in my pocket and go, ‘Nope,’” he said. “Instead of the old days where it was like, ‘Yeah, whatever, it’s points.’”
Across generations, the article shows that using cash isn’t about deprivation; it’s about cultivating mindfulness and discipline in a cashless world.
