Is Cash Still King? 🌟 New Insights on Payment Trends

Almost one-third of Americans buy into the idea that “cash doesn’t count,” according to new research.<br /><br />Conducted by Talker Research on behalf of Chime, a survey of 2,000 U.S. adults split evenly by gender and generation revealed that because their account balance doesn’t decrease, 29% of Americans believe that spending cash doesn’t actually “count” as spending money. <br /><br />While this may be chalked up to just another “girl math” trend, 35% say that carrying cash makes them feel more prepared and only 5% admit that they never have some on their person.<br /><br />Despite the stereotype that younger generations only prefer digital payments, the results revealed that baby boomers (24%) and Gen Xers (23%) are twice as likely to “rarely” carry cash than Gen Zers (12%). The younger generations also prefer to carry a larger amount of cash than the older generations: Gen Z and millennials like to have an average of about $82 and $71 respectively, while Gen X carries $57 and baby boomers carry $48.