We Still Use Cash For Some Things
We Don’t Use Cash Very Often, But When We Do-This Is What We use It For!
Cash may no longer be king, but we still have some stashed away!
A poll of 2,000 US adults found that 51% have cold-hard cash stored away in their homes. The average person has $1,010 stashed somewhere safe in their home.
Over half of respondents said they prefer keeping their savings in cash, in case of an emergency.
The study found for more general purposes, a quarter still prefers using their credit cards, while 24% prefer their debit cards — all over cash.
Nearly Half of the people have used cash in the past week, and almost 40% half used it in the past month.
However, cash was also found to burn a hole in the wallets of 55% who said they’re “more inclined” to use some money if they have it with them.
For 43% of cash users, purchases consist of smaller items, like coffee or convenience store items. Meanwhile, more than a third of people use cash for grooming appointments and smaller, non-critical emergencies.
The average cash carrier has $70 in greenbacks in their wallet. Respondents said they’re most likely to use $20 bills, $10 bills and $50 bills.
TOP USES FOR CASH
Smaller purchases – 43%
Personal grooming appointments – 39%
More minor emergencies – 35%
Public transportation – 32%
Grocery shopping – 30%
Entertainment – 30%
Gas – 25%
Clothing – 23%
