December 13, 2013
It's not listed in the Physician's Desk Reference or the Diagnostic and Statistical Manual of Mental Disorders (yet). But it seems that "ATMnesia" is a very real and well-documented infirmity — at least among Brits.
ATMnesia is a condition that causes ATM users to completely forget where they spent their cash. A Barkley's survey conducted in July found that half of Brits (59 percent) are afflicted by it.
Indeed, sufferers of ATMnesia lose track of almost £20.00 ($33) weekly, and 44 percent of those surveyed found that the chronic condition had frequently caused them to open their wallets intending to make a cash payment only to discover they'd already spent the money.
ATMnesia is more likely to occur in women than men (61 percent, compared with 57 percent). However, young people seem to be most susceptible; nearly 70 percent of those aged 18 to 24 said they couldn't account for how they spent their last cash withdrawal.
Barkley's said that one way to combat ATMnesia is to use a contactless card for small purchases. (However, researchers have found that this treatment can cause short term memory loss, leading to unintentional overspending.)
The most effective antidote to ATMnesia is to keep receipts, something that only 37 percent of Brits do, Barkley's said. The FI also suggested that ATM balance checks are another effective way to ward off the malady.
Read more about trends and statistics.