More of Us Are Embracing a “Cashless” Economy

While cash used to be king, these days more and more stores have stopped accepting cash, and it turns out, more and more people simply don’t carry cash on them anymore. A new Pew Research poll finds:

  • 41% of Americans say in a typical week they don’t use cash to pay for any of their purchases.
  • That’s up from 29% in 2018 and 24% in 2015.
  • Only 14% of people say they use cash for all or most of their weekly purchases, down from 18% in 2018 and 24% in 2015.
  • 59% of Americans say they use cash for at least some of their weekly purchases. 

But just because they aren’t using cash to buy things, doesn’t mean people still don’t have a few bucks in their wallet.

  • 58% of people say they do their best to always have cash on hand.
  • But 42% don’t concern themselves about having cash with them.
  • That does tend to depend on your age though.
  • Those under 50 are less likely to always have cash on hand (45%), compared to those over 50 (71%).
  • Plus, 54% of those under 50 don’t worry about not having cash, compared to only 28% off those over 50.

Source: Pew Research

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