The Decline of Cash in a Digital Age [Infographic]

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Kylie Moore https://www.traviscu.org 0m 123 #covid19

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COVID-19 hasn’t just changed how we’re spending or saving our money – it’s changed how we’re handling cash as well.

In a new study by Travis Credit Union, half of Americans said that they’ve been using less cash during COVID-19 than they were before the pandemic. Many have even gone so far as to avoid a situation that called for cash – no surprise, given that 1 in 3 say they’re not using it due to health concerns.

Highlights include:

• 58% of Americans plan to stop using cash completely after the COVID-19 pandemic
• 49% want cash and coins phased out permanently after the COVID-19 pandemic
• 7 in 10 foresee a completely cashless future

Take a look at the full study, which includes a breakdown of cash habits by generation.

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