As I point out in my forthcoming book, Money Sanity Solutions: Linking Money and Meaning, there is a major technological shift underway that will change how we pay for goods and services in the very near term.

Companies are investing big dollars to entice us to order products via our mobile phones Sounds great, right? After all, what could be handier than using your cell phone to order an item on the spot. But that’s only part of the equation. Increasingly, we will also use our mobile phones to pay for those same goods and services. Think credit card but faster, as in no more worrying if the well worn magnetic strip on the back of the card will be read by the credit card scanner.

Research has proven that in countries where people use their mobile phones to purchase items, they spend nearly 10 to 20 percent more than when they use plastic. So, how will this impact our ability to manage money day-to-day? Is this a good development or a slippery slope to more overspending?