Jen LeMair https://www.cardrates.com 1m 194 #cashless

The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.

7 in 10 Americans Believe the U.S. Is Becoming a Cashless Society

A new nationwide survey by CardRates.com found 7 in 10 Americans believe the U.S. is becoming a ‘cashless’ society, yet 77% don’t think the country should go completely cashless.

As Americans increasingly rely on plastic for ease of use, it’s not without risk. The survey revealed 71% find it easier to overspend using a credit card and more than half (54%) say credit cards feel more like “free money.” 

• 2 in 5 Americans admit to not carrying cash, 1 in 10 say it’s because they think it’s dirty
• 69% prefer to pay using a credit card
• 23% say they wouldn’t be able to make ends meet without a credit card
• 73% of Baby Boomers, 66% of Gen Z, 57% of Millennials, and 54% of Gen Z say they carry cash with them

Younger adults may even be moving past credit cards, the survey revealed 52% of Gen Z prefers using their phones for purchases over swiping plastic, and 32% of Gen Z and Millennials want to ditch their wallets and keep everything (ID, cards) on their phones.

For these, and more insights about Americans’ thoughts on cashless vs. cash only businesses, take a look at the full report.

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