Purchases We’d Rather Make With Cash Over Debit or Credit
Since the start of the COVID-19 pandemic, there's been an increased amount of talk about the possibility of American going "cashless."
In fact, in a study by YouGov, just under half of Americans, 46% to be exact, said they have made some type of "cashless" purchase since the start of the pandemic. Now, some of these transactions stem from the fear certain businesses had about the handling of possibly COVID infected currency, so they demanded "card purchases" only.
Overall we've seen a sizable growth in payment forms over the past couple decades. From debit cards to Paypal and Bitcoin, America's been paying the bill with way more than "bills."
Yet, when you look at another huge survey by JD Power, 82% of Americans have cash on hand, and a quarter of those have at least $50 in their wallet. And 78% of the respondents across all age demographics, believe merchants should be required to accept cash.
With those numbers in mind, it would be fair to say that if America is going "cashless", it won't be any time in the near future.
Besides, there are certain purchases we just want to pay with cash and here are just a few of those:
Purchases Better Made With Cash Than Debit or Credit