When a celebrity's spending gets out of hand, sometimes their accountants will cut up their credit cards and simply make them carry a cash-stuffed envelope instead. That helps to get things back in control.
There's a lot been said about managing credit cards. You know: avoid the fees, get the rewards, pay it off in full each month. And slightly more of us (51 per cent) do just that, pay them off every month.
But there's a credit elephant in the room that we conveniently ignore: it's that we spend a lot more when it's on plastic.
How much more? A number of studies show how and why people spend more on credit than with cash, but there's no consensus as to how much. Some put the figure as high as 30 per cent more, or even higher!