March 1, 2007

Cash is a Lesser King

37%

That’s the percent of Americans who say they mainly use cash for their everyday purchases, 31% say they use debit cards, 16% say they use credit cards and 15% say they use checks.

When it comes to paying for everyday expenses (as opposed to monthly bills), cash is no longer king — or at least not a fully sovereign king; just 37% of Americans say they mainly use cash for their everyday purchases. Some 31% say they use debit cards, 16% say they use credit cards and 15% say they use checks. Those with lower incomes rely mostly on cash for everyday living expenses; 54% of those with incomes under $30,000 do so compared with 24% among those with incomes of at least $100,000 annually. Read More