Nearly 80% of Americans Carry Less Than $50 in Cash, Says Bankrate Survey

Nearly 80% of Americans Carry Less Than $50 in Cash, Says Bankrate SurveyThis is how close we are to becoming cashless society.
Nearly eight in 10 Americans (or 78 percent) carry less than $50 in cash on a daily basis, according to a new Bankrate.com report.
Further making the point: 49 percent of Americans carry $20 or less each day, including nine percent who don’t carry any cash at all.
Only seven percent of Americans typically carry $100 or more.
“If we move to a truly cashless society, it won’t be much of an adjustment for most Americans,” said Greg McBride, CFA, Bankrate.com’s chief financial analyst. “The vast majority of Americans carry $50 or less on a daily basis, which seems to indicate that it’s more out of necessity than a desire to pay with cash.”
Eighty-six percent of women carry less than $50 on a daily basis, compared to only 70 percent of men. The results were fairly even across age groups, income levels and educational attainment.
The survey was conducted by Princeton Survey Research Associates International for Bankrate.com

Leave a Reply

Your email address will not be published. Required fields are marked *