Jen LeMair https://www.cardrates.com 1m 217 #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. If you have any questions, or if you’d like to cover some of this new data in an upcoming story, let me know.
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