consumer debt democracy economy economy. finance how to foster economic prosperity News, information, issues, discussions, solutions. News, information, issues, discussions, solutions. people relationships rights tackling consumer debt the debit card cap the debit card cap and consumer debt the debit card cap and democracy the debit card cap and financial awareness the debit card cap proposal the economic recovery the economy in 2011 the global recession US banking US banks US citizens US government what does the debit card cap ential?

Could a Debit Card Cap Improve Financial Awareness?

Posted byExcitingAds112 Comments on Could a Debit Card Cap Improve Financial Awareness?



It was revealed this week that leading US banks are considering imposing a cap on all consumer debit card transactions, with a view to limiting the swipe fees which cost retailers valuable revenue. Although the motion has yet to be confirmed, it would go further than simply assisting retailers in obtaining a higher level of profit, and would also potentially change the way in which American citizens purchased both everyday and luxury items.
While the benefits for US companies are obvious, any potential advantages for consumers are far more contentious and debateable. Firstly, it is unclear whether this restriction on how and when consumers use their debit cards is either entirely neccessary or reflective of a democratic society, where individuals should be free to spend their wealth as they desire. However, there is also a very pertinent argument that forcing consumers to make more cash purchases would lead to an enhanced fiscal responsibility within society.
 

Enhancing Economic Awareness
The second of these points is the most interetsing facing the contemporary consumer, especially in an age where consumer and credit card debt has soared beyond $26 billion in the US. Although this issue was not helped by the global recession, the excessive use of debit and credit cards has also been cited as a major influence, with the clear inference that consumers are more likely to spend higher volumes of their wealth through card payments.
Various surveys have reinforced this notion, supporting the suggestion that consumers are far less likely to develop responsible spending patterns when using a debit or credit card. The primary reason put forward for this is the different processes involved with using card and cash as payment methods, and an individual who withdraws a specific amount of cash for a transaction is forced to give more consideration to their financial circumstance and each individual purchase.

Subsequently, the proposed debit card cap may serve a secondary and unexpected benefit to consumers, encouraging them to make more payments by cash and therefore keep a more detailed focus on their finances. This could produce a dual boost to the state of the US economy, where commercial outlets are able to retain more of their sales revenue and consumers are able to make more considered and financially viable purchases.

The Issue of Personal Freedom
A much smaller consideration is the restriction of personal freedom, where consumers are forced to find alternative methods of payment that may not suit their preferences or logisitcal requirements. This issue would be most pertinent amongst elderly or infirm citizens, who are loathe to carry significant sums of cash or own and operate a credit card. The introduction of a debit card cap would subsequently restrict consumers in a way that could incur health or safety repercussions for certain individuals.
Not only this, but the proposal as it stands is rather vague, and there is no definitive indication as to which payment methodology would prevail as the most popular amongst consumers. Although the concept of cash purchases may lead to benefits in terms of money management and an individuals control of their personal finance, credit cards may well emerge as the payment method of choice for the citizens of the US, and lead to further social issues in terms of consumer debt.

 

An Example of Strong Government Action
Should a debit card cap be implemented, then it would need to be part of an overall proposal that was detailed enough to educate consumers and guide them to a suitable alternative method of payment. Given the potential benefits of consumers using cash to purchase their everyday and luxury items, it would be pertinent for the US state to encourage this process amongst its citizens as a way to teach fiscal awareness.
This may be percieved as an undemocratic act, and one that impinges on particular freedoms of citizens in order to benefit large corporations financially. However, there is nothing wrong with a government applying legislation that is designed to best serve as many factions of society of possible, especially if it can improve the growth of private sector companies and simultaneously draw more consideration from consumers about their levels of expenditure.

 

Number Shop


ExcitingAds

Navaid I. Syed is the owner and CEO of www.ExcitingAds.com / ExcitingAds! Inc. He is a medical doctor and was born in Mirpurkhas, Sind, Pakistan, on July 31, 1964. He graduated from Liaquat University of Medical and Health Sciences, Jamshoro, Sind, Pakistan, in 1990. He is Educational Commission for Foreign Medical Graduates, Philadelphia, PA, USA, certified.

You May Also Like

112 thoughts on “<span>Could a Debit Card Cap Improve Financial Awareness?</span>”

  1. Excellent beat ! I wish to apprentice while you amend your website, how can i subscribe for a blog site? The account aided me a acceptable deal. I had been tiny bit acquainted of this your broadcast provided bright clear idea

  2. It’s appropriate time to make some plans for the future and it’s time to be happy. I’ve read this post and if I could I wish to suggest you few interesting things or tips. Maybe you can write next articles referring to this article. I desire to read more things about it!

  4. I think evolution uses the God of the Gaps argument. Evolutionists fill in “evolution” everywhere they accuse the theist of throwing in ‘God.” I think it is difficult to provide evidence for evolution of fears and feelings, which are non-material.

  5. I’m extremely impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you modify it yourself? Anyway keep up the nice quality writing, it is rare to see a great blog like this one nowadays..

  6. Just wish to say your article is as astounding. The clearness in your post is just great and i can assume you are an expert on this subject. Well with your permission let me to grab your feed to keep up to date with forthcoming post. Thanks a million and please continue the rewarding work.

  9. Definitely believe that which you said. Your favorite justification seemed to be on the web the simplest thing to be aware of. I say to you, I definitely get annoyed while people consider worries that they plainly do not know about. You managed to hit the nail upon the top and also defined out the whole thing without having side effect , people can take a signal. Will probably be back to get more. Thanks

  10. My brother suggested I might like this web site. He was totally right. This post actually made my day. You cann’t imagine simply how much time I had spent for this information! Thanks!

  11. Hi, i think that i saw you visited my site so i came to “return the favor”.I’m trying to find things to improve my website!I suppose its ok to use a few of your ideas!!

  12. An impressive share, I simply given this onto a colleague who was doing a bit evaluation on this. And he in actual fact bought me breakfast as a result of I discovered it for him.. smile. So let me reword that: Thnx for the deal with! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If attainable, as you grow to be experience, would you thoughts updating your weblog with extra particulars? It is highly helpful for me. Big thumb up for this blog publish!

  13. I’m really impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you modify it yourself? Anyway keep up the nice quality writing, it’s rare to see a nice blog like this one today..

  14. We are a group of volunteers and starting a new scheme in our community. Your website provided us with valuable information to work on. You’ve done a formidable job and our entire community will be grateful to you.

  16. Heya i am for the primary time here. I found this board and I in finding It truly useful & it helped me out much. I hope to offer something again and help others like you helped me.

  17. I have not checked in here for a while because I thought it was getting boring, but the last several posts are good quality so I guess I will add you back to my daily bloglist. You deserve it friend 🙂

  20. You completed certain good points there. I did a search on the theme and found most people will have the same opinion with your blog.

  21. Hi there, You’ve done a great job. I will definitely digg it and personally suggest to my friends. I am confident they will be benefited from this site.

  22. Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

  23. Hello! I know this is kinda off topic but I was wondering if you knew where I could find a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having difficulty finding one? Thanks a lot!

  24. I have to show thanks to you just for bailing me out of this type of difficulty. Because of browsing throughout the internet and finding proposals which are not productive, I assumed my life was gone. Existing without the approaches to the issues you have solved as a result of the report is a critical case, as well as ones that would have in a wrong way damaged my career if I had not noticed your site. Your own personal know-how and kindness in controlling all the stuff was valuable. I don’t know what I would’ve done if I hadn’t come upon such a subject like this. I’m able to at this moment look forward to my future. Thank you so much for this high quality and sensible help. I won’t hesitate to refer your blog post to any person who will need guidelines about this subject.

  28. The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

  29. If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

  30. Zune and iPod: Most people compare the Zune to the Touch, but after seeing how slim and surprisingly small and light it is, I consider it to be a rather unique hybrid that combines qualities of both the Touch and the Nano. It’s very colorful and lovely OLED screen is slightly smaller than the touch screen, but the player itself feels quite a bit smaller and lighter. It weighs about 2/3 as much, and is noticeably smaller in width and height, while being just a hair thicker.

  31. I am noob on blog and have just had myown site and now I am trying to understand as much as possible regarding this short of new world. I truly love this site skin, may I know what skin is this? Is it customized layout or is that paid one? Anyway I can’t afford to get paid design nor got the ability to custmozied design myself. I’m sorry for the newbie question, thanks.

  32. Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

  33. If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

  34. The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it’ll do even better in those areas, but for now it’s a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod’s strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.

  35. Great! It is so hard to search out good high quality data on the web right now from educated sources, it is all wannabe’s and reused content with only a few exceptions. I hope you keep up the nice work and I might be again to read more of your posts in the future!

  36. Howdy, a helpful article buddy. Thank you Unfortunately I’m having issue with the rss feed. Don’t know why Unable to subscribe. Does anybody else facing similar RSS feed issue? Anyone who knows please respond. Thanks!

  37. Kudos for posting such a useful weblog. Your weblog isn’t only informative and also extremely artistic too. There usually are very couple of individuals who can write not so simple articles that creatively. Keep up the good work !!

  39. It’s best to have some familiarity with the subject you’re indexing, so that you know what is important. If you didn’t write the work you’re indexing, do some skimming or pre-reading before diving in.

  41. watched the last half-hour of the West Ham v Manchester United Premier League game on the concourse TV.

  51. I want to thankx for the efforts you have made in writing this blog. I am hoping the same high-grade blog post from you in the upcoming as well. In fact your creative writing skill has inspired me to get my own blog now. Really the blogging is spreading its wings rapidly. Your write up is a good example of it.

  53. I want to thankx for the efforts you have made in writing this blog. I am hoping the same high-grade blog post from you in the upcoming as well. In fact your creative writing skill has inspired me to get my own blog now. Really the blogging is spreading its wings rapidly. Your write up is a good example of it.

  54. Is there any way for us to follow this blog via different methods beside using RSS? I can’t make it work on my readers whil it is possible to read it from ff.

  55. Thank you very much for another helpful post. I have been a big fan for a few months, and I have been enjoying ever second of it With so many autogenerated blogs out there, its refreshing to find a real one. I run a blog that is very similar, is there any way you would write a guest post on it? Shoot me an email if you are interested!

  56. There has to be any ways of get in touch with the blog without subscribing to the RSS? I can’t understand the reason why however I can’t receive the RSS packed in my reader though I can read this through my IE.

  58. Couldn’t be written any much better. Reading this post reminds me of my old room mate! He always kept talking about this. I will forward this post to him. Fairly positive he will have a fantastic read. Thanks for sharing!

  59. I’m actually enjoying the theme/design of your blog. Do you ever run into any internet browser compatibility problems? A little number of my weblog audience have complained about my weblog not working properly in Explorer but looks great in Firefox. Do you might have any suggestions to assist fix this problem?

  62. The new Zune browser is surprisingly good, but not as good as the iPod’s. It works well, but isn’t as fast as Safari, and has a clunkier interface. If you occasionally plan on using the web browser that’s not an issue, but if you’re planning to browse the web alot from your PMP then the iPod’s larger screen and better browser may be important.

  64. Useful article, acknowledgment for demography the time to put it together. I like the administration you are demography your blog. I’ll be bookmarking your website so I can accumulate up in the future. Would like to see added posts soon.

  66. I believe this is one of the most crucial information for me. And i’m glad reading your post. But wanna remark on some general issues, The web page style is wonderful, the articles is definitely good :D. Beneficial job, cheers.

  69. My spouse and I stumbled over here by a different web address and thought I should check things out. I like what I see so i am just following you. Look forward to finding out about your web page for a second time.

  71. Greetings! This is my first visit to your blog! We are a group of volunteers and starting a new project in a community in the same niche. Your blog provided us useful information to work on. You have done a wonderful job!

  72. hello!,I like your writing very much! share we communicate more about your article on AOL? I need an expert on this area to solve my problem. Maybe that’s you! Looking forward to see you.

  73. Hi there! I’m at work browsing your blog from my new iphone! Just wanted to say I love reading your blog and look forward to all your posts! Carry on the excellent work!

  76. The next time I read a blog, I hope that it doesnt disappoint me as much as this one. I mean, I know it was my choice to read, but I actually thought youd have something interesting to say. All I hear is a bunch of whining about something that you could fix if you werent too busy looking for attention.

  77. I’m not that much of a internet reader to be honest but your sites really nice, keep it up! I’ll go ahead and bookmark your site to come back later. All the best

  78. Unions make up the backbone of this country. There may not be many employees left, but they battle with regard to workers’ rights. These types of rights, after that, tend to be translated to other non-union jobs. Without unions, we all have been simply person workers attempting to fight for the rights.

  81. Has anyone had a chance to use the relatively new flourocarbon Spiderwire? The store folks rave about it, but they are trying to sell it. I am looking for an opinion from someone that has actually used the stuff.

  84. Aw, this was a really nice post. In idea I would like to put in writing like this additionally – taking time and actual effort to make a very good article… but what can I say… I procrastinate alot and by no means seem to get something done.

  85. I would like to know what kept you going in writing this blog. There are plenty that do not have the power to do what you do. Please keep on the good work.

  87. I’m so lucky to have detected this webpage . You actually stated me exactly what I wished to hear and then some. Gorgeous composing and many thanks all over again for getting this 100 % free!

  89. Sorry for the huge review, but I’m really loving the new Zune, and hope this, as well as the excellent reviews some other people have written, will help you decide if it’s the right choice for you.

  91. Das ist ja grundsätzlich ein guter Beitrag, aber Du musst bald mal diesen Blog testen! ich habe jetzt das 5te Mal probiert meinen Comment abzuschicken, das tippe ich jetzt nicht noch alles einmal!

  94. Sports activities game enthusiasts are usually concerned in regards to the video game footwear. an excellent footwear is actually rather necessary for a good sportsman.

  95. Das ist ja eigentlich ein guter Beitrag, aber Du musst bald mal diesen Blog checken… ich habe jetzt das fünfte Mal ausprobiert meinen Kommentar abzuschicken, das schreibe ich jetzt nicht noch alles einmal!

  96. Excellent post. I was checking continuously this blog and I am impressed! Extremely useful info particularly the first part. I care for such information a lot. I was looking for this particular information for a very long time. Thank you and good luck.

Comments are closed.

X
Verified by MonsterInsights