One in 10 Americans don’t carry paper money anymore
CNBC.com staff |
@CNBC
Monday, 12 May 2014 | 12:13 PM ET
It could be a portent of the long-foretold cashless
society, or just a sign of consumer confidence, but nearly one in 10 Americans
no longer carry cash on a daily basis, according to a new report from
Bankrate.com.
The survey, conducted by Princeton Survey Research
Associates International, also found that 78 percent of Americans carried less
than $50 in paper money, and that 49 percent carry $20 or less each day. Nine
percent went without cash entirely, the survey found.
CNBC's Kelli Grant talks about the types of protection
available to credit and debit card holders in the transition to a cashless
society.
"If we move to a truly cashless society, it won't be
much of an adjustment for most Americans," Greg McBride, Bankrate.com's
chief financial analyst, said in a press release. "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."
The survey also found that cash-carrying correlated to
some degree with gender: Eighty-six percent of women reported carrying less
than $50, compared to 70 percent of men.
—By CNBC
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